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    2941 159Th St Markham, IL 60428

    For Sale
    $800,000

    Prime Markham location, 2,832 SF, drive-thru available.

    Property size:
    2,832 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 2,832 square foot retail property, situated on a 0.55-acre lot in Markham, Illinois, presents a unique investment opportunity. Located at the hard corner of Kedzie Avenue and 159th Street, this single-story building benefits from high visibility and significant traffic volume. The property enjoys a prominent position as an outlot directly in front of a substantial 265,000 square foot shopping center, ensuring high foot traffic and brand recognition. The intersection sees over 40,000 vehicles daily, capitalizing on the substantial through-traffic connecting neighboring communities via major interstates I-57 and I-294. Surrounded by residential areas, this location offers convenient access for local residents. The property is zoned for restaurant and storefront uses, and importantly, a drive-thru option is available, enhancing its appeal and potential for various businesses. The asking price is $800,000, translating to $282.49 per square foot. This turnkey property is ready for immediate occupancy and presents a compelling opportunity for a savvy investor or business owner seeking a high-traffic, well-located space in a thriving community.

    Property Features for 2941 159Th St

    General Information

    Property type
    Individual retail properties
    Square Feet
    2,832 SF
    Lot Size
    23,958 SF

    Building Details

    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • $800,000 asking price for a 2,832 SF retail property.
    • Located at a hard corner in Markham, IL, at the intersection of Kedzie Ave and 159th St, with over 40,000 vehicles passing daily.
    • 0.55‑acre lot, situated in an outlot in front of a 265,000 SF shopping center.
    • Drive‑thru available.
    • Price per square foot: $282.49.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Markham
    County
    Cook
    State
    Illinois
    Longitude
    -87.6903539
    Latitude
    41.6003978

    Nearby Similar for Sale

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      Markham Shopping Center Investment

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    FAQs

    What type of property is this?
    Individual retail property - Prime Markham location, 2,832 SF, drive-thru available.
    Where is this individual retail property located?
    The property is located at 2941 159Th St Markham, IL.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: $800,000 asking price for a 2,832 SF retail property.; Located at a hard corner in Markham, IL, at the intersection of Kedzie Ave and 159th St, with over 40,000 vehicles passing daily.; 0.55-acre lot, situated in an outlot in front of a 265,000 SF shopping center.
    Request Owner's contact information
    2941 159Th St Markham, IL 60428
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    Markham, IL 60428
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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
    2941 159Th St Markham, IL 60428
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