Automotive Repair
New
For Sale
$849,900
9540 S Vincennes Ave, Chicago, IL 60643
Multi-building automotive property with secured vehicle storage, service areas, and convenient expressway and public transportation access.
Property Size12,000 SF
Price / SF$70.83
Days on Market2
Property Features for 9540 S Vincennes Ave
General Information
Standard status
Active
Size
12,000 SF
Total Parking Spaces
35
Zoning
C1-1
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Dock-High Doors
3
Drive-In Doors
3
Amenities
Inside and outside car storage
Secured fenced yard
3 trailer docks
3 drive-in doors
Lunchroom
Conference room
Private and public restrooms
High ceilings (17+ ft)
Building Details
Year Built
1955
Listing Agency:
Keller Williams Preferred Rlty
Listed By:
Anthony Meier, Joanne Meier · License #475174145
(708) 737-5241
Source:
Realtopiare
Added: Sep 4
Last Checked: Sep 4 at 2:38PM
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 12,000+ SF automotive property includes multiple buildings on a corner lot and is currently operating as a body and repair shop. The improvements provide a large repair area, substantial storage, a lunchroom, conference room, and private and public restrooms. Interior clear heights reach 17+ feet, supporting automotive service and fleet maintenance operations. The site includes secured fenced vehicle storage, three trailer docks, three drive-in doors, and approximately 35 parking spaces.
Located at 9540 S Vincennes Ave in Chicago, the property offers expressway access and public transportation nearby. C1-1 zoning supports the property's current automotive service configuration. Built in 1955, the site combines service, storage, and vehicle-handling functions across its multiple-building layout.
Located at 9540 S Vincennes Ave in Chicago, the property offers expressway access and public transportation nearby. C1-1 zoning supports the property's current automotive service configuration. Built in 1955, the site combines service, storage, and vehicle-handling functions across its multiple-building layout.
Key Highlights
- 12,000+ SF automotive body and repair operation
- Three trailer docks and three drive‑in doors
- 17+ ft interior ceiling heights
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
Flex RnD
$1.98M
$1.73M – $2.31M
NOI $138,528 @ 7.0% cap · market cap 16.30%
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
3
Dock-high doors
3
Drive-in doors
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
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- All-Car Services — 9720 S Vincennes Ave, Chicago, IL 60643
Frequently Asked Questions
What type of property is this?
Auto shop - Multi-building automotive property with secured vehicle storage, service areas, and convenient expressway and public transportation access.
Where is this auto shop located?
The property is located at 9540 S Vincennes Ave 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: 12,000+ SF automotive body and repair operation; Three trailer docks and three drive‑in doors; 17+ ft interior ceiling heights
