Automotive Repair Facility with Storage
For Sale
$849,900
9540 S Vincennes Avenue, Chicago, IL 60643
Commercial Sale, Chicago, IL
Property Size12,000 SF
Lot Size0.97 Acres
Price / SF$70.83
Days on Market48
Property Features for 9540 S Vincennes Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
COMMR
Directions
I-90/94 to 95th St exit. West on 95th St, left on Vincennes Ave to property.
Subdivision
CHI - Washington Heights
Standard status
Active
APN
25082010190000
Lot size
0.97 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
54104
Utilities
Cooling system
Other (Cooling), Window Unit(s)
Amenities
3 trailer docks
3 drive-in doors
high ceilings (17+ft)
large amount of storage
lunchroom
conference room
private and public restrooms
Building Details
Year built
1955
Floors in Building
1
Number of units
4
Building materials
Brick, Concrete, Steel Siding, Wood
Listing Agency:
Keller Williams Preferred Rlty · Keller Williams Realty
(708) 798-1111
Listed By:
Anthony Meier · License #471018883
(708) 798-1111
Added: Jul 13
Changed: Aug 20
Last Checked: Aug 29 at 9:06PM
MLS# 12703284
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multi-building automotive property occupies a 0.97-acre corner lot and includes approximately 12,000+ SF of operating body and repair space. The improvements provide a large repair shop, substantial storage, a lunchroom, conference room, and private and public restrooms. Interior and exterior vehicle storage are supported by a secured fenced yard, while construction includes brick, concrete, steel siding, and wood elements.
The facility includes 3 trailer docks and 3 drive-in doors, with ceilings measuring 17+ ft. Approximately 35 parking spaces are provided, including 8-30 indoor spaces and an additional 12-18 outdoor spaces. The property was built in 1955 and offers expressway access and public transportation nearby.
The facility includes 3 trailer docks and 3 drive-in doors, with ceilings measuring 17+ ft. Approximately 35 parking spaces are provided, including 8-30 indoor spaces and an additional 12-18 outdoor spaces. The property was built in 1955 and offers expressway access and public transportation nearby.
Key Highlights
- Approximately 12,000+ SF automotive body and repair facility
- 0.97‑acre corner lot with a secured fenced vehicle‑storage yard
- 3 trailer docks and 3 drive‑in doors
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
17 ft
Clear height
3
Dock-high doors
3
Drive-in doors
Single-tenant
Tenancy
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
- 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
- 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, repair areas, loading access, and office-support spaces.
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; 0.97‑acre corner lot with a secured fenced vehicle‑storage yard; 3 trailer docks and 3 drive‑in doors
