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    3400- 183Rd St Hazel Crest, IL 60429

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    For Lease
    Contact for pricing

    Hazel Crest, IL shopping center opportunity.

    Lot size:
    42,946 SF

    Property Features for 3400- 183Rd St

    General Information

    Property type
    Retail properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    42,946 SF
    Total Rate
    42946

    Spaces For Lease

    at 3400- 183Rd St, Hazel Crest, IL 60429 Contact us
    Unit Suite 3412

    $12 /Mo

    Size
    7,000 SF
    Contact us
    Unit Suite 3430

    $14 /Mo

    Size
    1,378 SF
    Contact us
    Unit Suite 3414

    $12 /Mo

    Size
    7,000 SF
    Contact us
    Unit Suite 3410

    $16 /Mo

    Size
    7,000 SF
    Contact us
    Unit Suite 3406

    $12 /Mo

    Size
    7,000 SF
    Contact us
    Unit Suite 3400B

    $19 /Mo

    Size
    4,450 SF
    Contact us
    Unit Suite 3400

    $18 /Mo

    Size
    4,450 SF
    Contact us
    Unit Suite 3400A

    $21 /Mo

    Size
    4,450 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Brad Belden
    Brad Belden

    Listing Agency: Colliers - Rosemont, Illinois Listing Agent: Brad Belden

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Fountainbleau Court, located at 3400-3480 West 183rd Street in Hazel Crest, Illinois (zip code 60429), presents a prime retail investment opportunity in Cook County. This 42,946 square foot shopping center boasts a prominent location on 183rd Street, enjoying high visibility with an estimated 18,000 vehicles passing daily. Currently, there are multiple spaces available, ranging from a minimum of 900 square feet to a maximum contiguous space of 7,000 square feet. A total of 42,728 square feet is currently vacant, offering significant potential for new tenants. The center already houses established businesses such as Chase Bank, Laundry World, Harold's Chicken, Popper Razzi, and Tingz Event Planning, creating a strong existing tenant base. The property includes 183 parking spaces for customer convenience. Zoning regulations allow for a wide variety of commercial uses, providing flexibility for prospective tenants. This location offers excellent potential for businesses seeking high visibility and convenient access in a well-established commercial area. The property is situated at latitude 41.5577212 and longitude -87.7005951.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hazel Crest
    County
    Cook
    State
    Illinois
    Longitude
    -87.7005951
    Latitude
    41.5577212

    Nearby Similar for Lease

    • Contact for pricing

      Medical Office Near Advocate Hospital

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      1,725 SF

      Retail Space in Hazel Crest

      Retail space available in Hazel Crest, Illinois shopping center.
      17503-17575 Kedzie Ave, Hazel Crest, IL 60429
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      930 SF

      Hazel Crest Office Space Available

      Well-located office property with recent renovations and ample parking.
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      3,497 SF

      Hazel Crest Retail Leasing Opportunity

      Retail spaces available in Hazel Crest with high visibility.
      3310-3370 W 183Rd St, Hazel Crest, IL 60429
      View Details
    • Contact for pricing
      1,378 SF

      Retail Space on 183rd Street

      Retail spaces available in Hazel Crest shopping center.
      3400-3480 W 183Rd St, Hazel Crest, IL 60429
      View Details
    • Contact for pricing
      1,242 SF

      Hazel Crest Office Space Available

      Office space available for rent in Hazel Crest, Illinois.
      17850 Kedzie Ave, Hazel Crest, IL 60429
      View Details
    • Contact for pricing

      Hazel Crest Office Space Available

      Multiple office spaces and suites available in Hazel Crest, Illinois.
      17577 Kedzie Ave, Hazel Crest, IL 60429
      View Details
    • $9 SF/Yr
      83,800 SF

      Hazel Crest Retail Center Investment

      Grocery-anchored strip center with 13 spaces.
      17503 Kedzie Ave, Hazel Crest, IL 60429
      View Details
    • $8 SF/Yr
      262,856 SF

      3310 183Rd St

      Retail properties & Spaces • 262,856 SF
      3310 183Rd St, Hazel Crest, IL 60429
      View Details

    FAQs

    What type of property is this?
    Retail property - Hazel Crest, IL shopping center opportunity.
    Where is this retail property located?
    The property is located at 3400- 183Rd St Hazel Crest, IL.
    What is the lease rate?
    The lease rate is $12-$21 SF/Yr.
    What are key features of this property?
    This property features: High visibility frontage on 183rd Street; 42,946 square foot shopping center; Flexible zoning accommodating diverse businesses
    (847) 698-8232 Call to check price and availability
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    3400- 183Rd St Hazel Crest, IL 60429
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3400- 183Rd St Hazel Crest, IL 60429
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    Contact for Pricing
    Please call us for current price
    and status of this listing Brad Belden
    Brad Belden
    Real Estate License ID: 471018723
    (847) 698-8232 (773) 531-6886 (847) 698-8444
    Learn more
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