Automotive Repair
New
For Sale
$849,900
9540 S Vincennes Avenue, Chicago, IL 60643
Multi-building automotive property with secured vehicle storage, service areas, warehouse space, and convenient expressway access.
Property Size12,000 SF
Days on Market3
Property Features for 9540 S Vincennes Avenue
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Commercial
Zoning
COMMR
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$54,104
Amenities
trailer docks
drive-in doors
high ceilings
lunchroom
conference room
restrooms
Building Details
Building Size
12,000 SF
Year Built
1955
Stories
1
Units
4
Abandoned
No
Listing Agency:
Keller Williams Preferred Rlty
(708) 798-1111
Listed By:
Anthony Meier · License #471018883
(708) 798-1111
Source:
Ozmentrealestate
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 7:17AM
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 Keller Williams Preferred Rlty
Investment Insights
Based on property information with market context.
This multi-building automotive property at 9540 S Vincennes Avenue includes an approximately 12,000+ SF body and repair operation. The improvements provide a substantial repair shop, warehouse and storage areas, lunchroom, conference room, and private and public restrooms. Interior clear heights reach 17+ feet, supporting a range of automotive service and storage functions. Vehicle storage is available both inside and within a secured, fenced yard.
The property includes 3 trailer docks, 3 drive-in doors, and approximately 35 parking spaces. Indoor vehicle storage is identified at 8-30 spaces, with an additional 12-18 outdoor spaces. Located in Chicago, the site offers expressway access and public transportation availability. The property was built in 1955.
The property includes 3 trailer docks, 3 drive-in doors, and approximately 35 parking spaces. Indoor vehicle storage is identified at 8-30 spaces, with an additional 12-18 outdoor spaces. Located in Chicago, the site offers expressway access and public transportation availability. The property was built in 1955.
Key Highlights
- Approximately 12,000+ SF automotive body and repair facility
- 3 trailer docks and 3 drive‑in doors
- 17+ ft interior ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$75,251
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,505,020
$1.5M
Cap Rate 7%
$1,075,014
$1.1M
Cap Rate 9%
$836,122
$836.1K
Market Conditions
NOI Build-Up for 12,000 SF
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.
Gross rent
$113.2K $9.43/SF
− Vacancy
−$5.7K −$0.47/SF
EGI
$107.5K $8.96/SF
− OpEx
−$32.3K −$2.69/SF
NOI
$75.3K $6.27/SF
Area
Chicago, IL
Vacancy
5.00%
Lease Rate
$9.43 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,505,020
Cap Rate 7%
$1,075,014
Cap Rate 9%
$836,122
Alternative Uses
Best Use
Retail
$2.37M
$2.08M – $2.77M
NOI $166,018 @ 7.0% cap · market cap 19.53%
Second Best
Warehouse
$1.30M
$1.14M – $1.51M
NOI $90,896 @ 7.0% cap · market cap 10.69%
Theoretical Best
Office A
$5.66M
$4.95M – $6.60M
NOI $396,058 @ 7.0% cap · market cap 46.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
707
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60643, IL
47,831
Population
19,541
Households
2.4
Avg Household Size
44
Median Age
39%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
6,464
Density / Sq Mi
$83,015
Median Household Income
$53,155
Median Earnings
$1,359
Median Rent
$233,900
Median Home Value
Market
Vacancy Rate% for Industrial in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Cino's Quality Automotive — 9934 s halsted st, chicago, il 60628
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- Halsted Auto Diagnostic Clinic — 9946 S Halsted St, Chicago, IL 60628
- Next level auto repair — 9934 S Halsted St, Chicago, IL 60628
- Joy Auto Repair Inc. — 10001 S Halsted St, Chicago, IL 60628
Frequently Asked Questions
What type of property is this?
Auto shop - Multi-building automotive property with secured vehicle storage, service areas, warehouse space, and convenient expressway access.
Where is this auto shop located?
The property is located at 9540 S Vincennes Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Approximately 12,000+ SF automotive body and repair facility; 3 trailer docks and 3 drive‑in doors; 17+ ft interior ceilings
