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    79-207 Joe Orr Rd Chicago Heights, IL 60411

    Sponsored
    For Lease
    $16 SF/Yr

    Chicago Heights, IL Strip Center

    Lot size:
    137,715 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Olympia Plaza, located at 79-207 W Joe Orr Rd in Chicago Heights, IL, offers 137,715 square feet of retail space in a Class B strip center. Built in 1958, this Cook County property sits on 3.7 to 5.9 acres and boasts over 600 parking spaces. Currently, 21,766 square feet are vacant, with spaces ranging from a minimum of 900 square feet to a maximum contiguous space of 7,280 square feet. The center enjoys high visibility, with an estimated 40,000 cars passing daily. Its strategic location near 16 schools and Prairie State College, coupled with numerous nearby industrial and manufacturing facilities, ensures a strong customer base. Existing tenants include a long-standing grocery store, along with national brands such as Little Caesar's, Subway, Family Dollar, Davita's Dialysis, Rainbow Clothing, and DTLR, creating a diverse and thriving retail environment. This multiple-tenancy property presents a unique opportunity for businesses seeking a well-established location within a busy commercial center. The property is professionally managed.

    Property Features for 79-207 Joe Orr Rd

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    137,715 SF
    Class
    B

    Building Details

    Year Built
    1958

    Unit(s) available at that property

    Space
    Suite 199
    Size
    900 SF
    Rate per SF
    $16
    Space
    Suite 153
    Size
    1,400 SF
    Rate per SF
    $16
    Space
    Available Space
    Size
    35,000 SF
    Rate per SF
    $16
    Space
    Suite 119
    Size
    1,548 SF
    Rate per SF
    $16
    Space
    Development Site A
    Size
    161,172 SF
    Rate per SF
    $16
    Space
    Development Site B
    Size
    257,004 SF
    Rate per SF
    $16
    Space
    Suite 157
    Size
    1,565 SF
    Rate per SF
    $16
    Space
    Suite 141
    Size
    2,296 SF
    Rate per SF
    $16
    Space
    Suite 187
    Size
    2,000 SF
    Rate per SF
    $16
    Space
    Suite 191
    Size
    1,850 SF
    Rate per SF
    $16
    Space
    Suite 189
    Size
    1,500 SF
    Rate per SF
    $16
    Space
    Suite 151
    Size
    1,534 SF
    Rate per SF
    $16
    Space
    Suite 119
    Size
    1,548 SF
    Rate per SF
    $16
    Space
    Suite 79
    Size
    7,280 SF
    Rate per SF
    $16
    Space
    Suite 139
    Size
    1,393 SF
    Rate per SF
    $16

    HighLights

    • High‑visibility retail storefront.
    • Excellent highway and rail access.
    • Business‑friendly incentives available.
    • High visibility from major roadways.
    • Ample parking; grocery‑anchored center.
    • Turnkey, second‑generation retail spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Neighborhood centers

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago Heights
    County
    Cook
    State
    Illinois
    Longitude
    -87.6469113
    Latitude
    41.52129542

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    FAQs

    What type of property is this?
    Neighborhood center - Chicago Heights, IL Strip Center
    Where is this neighborhood center located?
    The property is located at 79-207 Joe Orr Rd Chicago Heights, IL.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: High-visibility retail storefront.; Excellent highway and rail access.; Business-friendly incentives available.
    Request Owner's contact information
    79-207 Joe Orr Rd Chicago Heights, IL 60411
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    Realmo Value Estimation

    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.

    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.

    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
    79-207 Joe Orr Rd Chicago Heights, IL 60411
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