7757 Lawrence Ave Norridge, IL 60706
Call to check price and availability
High-yield, fully occupied multifamily & retail
Property size:
47,792 SFProperty Features for 7757 Lawrence Ave
General Information
- Property type
- Lifestyle centers
- Square Feet
- 47,792 SF
Building Details
- Year Built
- 1961
- Buildings
- 3
- Stories
- 2
- Units
- 25
Listing Agency: RE/MAX Suburban Listing Agent: Jason Bitton
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a fully occupied, mixed-use property in Norridge, IL. The property comprises three contiguous buildings totaling 47,792 square feet on a 1.94-acre lot, featuring 16 apartment units and 8 commercial retail units, plus a 21,000 square foot free-standing retail building. Currently boasting 100% occupancy, the property generates a substantial net operating income (NOI) of $352,497, with a current cap rate of 7.19% and a pro-forma cap rate of 9.58%. The asking price is $4,900,000, translating to $102.53 per square foot. Built in 1961, the two-story buildings are zoned B-2. Financial records indicate a gross income of $538,080 and total expenses of $185,582.51, including taxes ($142,261.55), insurance ($21,528.14), utilities ($16,310), and legal/accounting fees ($5,482.82). The property's strategic location near O'Hare Airport and I-90 Expressway, combined with its strong tenant base and high occupancy rate, makes it an attractive investment for owner-users seeking a stable and profitable income stream. The property includes ample parking. The Cook County Assessor's Parcel Numbers (APN) are 12131150190000, 12131150180000, and 12131150170000.
Property Profile
Location Intelligence
Current Use by Public Records
Automatic Appliance Parts
Big Box & Wholesale Store
Location Insight
- Map
- Local Demand
- City
- Norridge
- County
- Cook
- State
- Illinois
- Longitude
- -87.8215847
- Latitude
- 41.966686
Nearby Similar for Sale
FAQs
What type of property is this?
Lifestyle center - High-yield, fully occupied multifamily & retail
Where is this lifestyle center located?
The property is located at 7757 Lawrence Ave Norridge, IL.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Three contiguous buildings totaling 47,792 square feet on a 1.94-acre lot, including 16 apartment units and 8 retail units, plus a 21,000 SF free-standing retail building. Currently 100% occupied, offering a 7.19% cap rate.; Fully leased 16 apartment units and 8 retail units provide stable income.; Prime location in a vibrant commercial area with high foot traffic.