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    7401 Lemont Rd Downers Grove, IL 60516

    Sponsored
    For Lease
    Contact for pricing

    High-traffic retail space available.

    Lot size:
    141,702 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional retail opportunity is located within Downers Park Plaza, a 141,702 square foot multi-tenant center situated at the heavily trafficked intersection of Lemont Road and 75th Street in Downers Grove, Illinois (45,100 vehicles per day). The space, totaling 990 square feet, is part of a thriving retail environment boasting strong co-tenancy with national brands such as Best Buy, TJ Maxx, HomeGoods, Party City, Old Navy, Wingstop, and Enterprise. The property, built in 1979, offers excellent visibility and accessibility with dual-sided pylon signage along both Lemont Road and 75th Street. Ample parking is provided with 781 surface level spaces. The plaza's strategic location is less than one mile east of Interstate-355, ensuring convenient access for customers and employees. This prime location benefits from proximity to a wide array of major retailers, including Jewel-Osco, Walmart, Home Depot, Aldi, Shop & Save Market, Kohl's, Five Below, Ross Dress for Less, Sephora, JoAnn Fabrics and Crafts, Petco, XSport Fitness, Bowlero, Shoe Carnival, Dollar Tree, Advanced Auto Parts, O'Reilly Auto Parts, UPS Store, KFC, Wendy's, Dunkin', and Taco Bell. This presents a unique opportunity to establish a business in a high-demand area with significant foot traffic and strong brand recognition. The property offers a single suite within a larger complex. DuPage County location.

    Property Features for 7401 Lemont Rd

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    141,702 SF

    Building Details

    Year Built
    1979

    Unit(s) available at that property

    Space
    Available Space
    Size
    990 SF

    We can help!

    Listing Contact
    Matthew Tarshis
    Matthew Tarshis

    Learn more

    HighLights

    • 141,702 SF multi‑tenant retail center in Downers Grove, DuPage County.
    • One 990 SF retail space available for lease.
    • Strong co‑tenancy includes Best Buy, TJ Maxx, HomeGoods, Party City, Old Navy, Wingstop, and Enterprise.
    • 781 surface parking spaces and prominent pylon signage on Lemont Road and 75th Street (45,000+ VPD).
    • Excellent location less than one mile from I‑355, near major retailers including Jewel‑Osco, Walmart, and Home Depot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Geek Squad Computer Service Best Buy Electronics Store Downers Park Plaza Business Center Wingstop Chicken Wings Restaurant KeyExpress Locksmiths Key Duplication Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Downers Grove
    County
    DuPage
    State
    Illinois
    Longitude
    -88.010165
    Latitude
    41.7526515

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    FAQs

    What type of property is this?
    Retail property - High-traffic retail space available.
    Where is this retail property located?
    The property is located at 7401 Lemont Rd Downers Grove, IL.
    What are key features of this property?
    This property features: 141,702 SF multi-tenant retail center in Downers Grove, DuPage County.; One 990 SF retail space available for lease.; Strong co-tenancy includes Best Buy, TJ Maxx, HomeGoods, Party City, Old Navy, Wingstop, and Enterprise.
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    7401 Lemont Rd Downers Grove, IL 60516
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    Downers Grove, IL 60516
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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
    7401 Lemont Rd Downers Grove, IL 60516
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    We can help!
    Listing Contact
    Matthew Tarshis
    Matthew Tarshis
    Real Estate License ID: IL 475155035
    Learn more
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