49-59 North Street, Park Forest, IL 60466
Well-maintained building, divisible, with potential cannabis use approval.
- Added:
- Aug 13, 2024
- Days on Market:
- 693
- Last Refresh:
- May 12 at 10:08 pm
Property Features for 49-59 North Street
General Information
- Standard status
- Active
- Size
- 12,600 SF
- Property subtype
- Retail
Listing office DarwinPW Realty (773) 677-6472
Listing date Aug 13, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of DarwinPW Realty
HighLights
- Cannabis approved site
- Potential Class 8 tax incentive
- Well maintained free‑standing building divisible into six 2,100 SF units
- Ideally located collision shop space
- Updated LED lighting and new emergency exit doors
- Parking lot redone in 2020
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $189.0k | $15.00 |
| − Vacancy | −$18.9k | −$1.50 |
| EGI | $170.1k | $13.50 |
| − OpEx | −$51.0k | −$4.05 |
| NOI | $119.1k | $9.45 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Park Forest
- County
- Will
- State
- Illinois
- Longitude
- -87.6780239
- Latitude
- 41.4972346
