Freestanding Building Ideal for
525 W 119th Street Chicago, IL 60628
525 W 119th Street, Chicago, IL, 60628
$139,000
For Sale
$139,000
Freestanding 700 SF building on corner lot, ideal for retail.
Property Size700 SF
Lot Size0.12 Acres
Price / SF$198.57
Days on Market1825
Property Features for 525 W 119th Street
General Information
- Standard status
- Active
- Size
- 700 SF
- Lot size
- 0.12 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1955
Listing agency
Network Property Managment LLC
(708) 927-8000
Listed by
Neil Haleem · License #471010714
(708) 927-8000
Source
Exitrealty
Added: Jul 24, 2021 Updated: Jul 10 at 3:50PM Checked: Jul 21 at 4:20AM
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 Network Property Managment LLC
Investment Insights
Based on property information with market context.
This freestanding building, approximately 700 square feet in size, is situated on a corner lot of approximately 5,250 square feet. The interior has been recently remodeled. The site benefits from two curb cuts, one located on 119th Street and the other on Parnell Avenue. This location is suitable for a small office, retail space, or restaurant.
Key Highlights
- Freestanding 700sf building on a 5,250sf corner lot.
- Ideal for office, retail, or restaurant use.
- Recently remodeled interior.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.1k | $21.60 |
| − Vacancy | −$1.3k | −$1.84 |
| EGI | $13.8k | $19.76 |
| − OpEx | −$4.2k | −$5.93 |
| NOI | $9.7k | $13.83 |
700 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$138.3K
$121.1K – $161.4K
NOI $9,684 @ 7.0% cap · market cap 6.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$330.0K
$288.8K – $385.1K
NOI $23,103 @ 7.0% cap · market cap 16.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Liberty Tax
Accounting Firm
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Freestanding 700 SF building on corner lot, ideal for retail.
Where is this retail space located?
The property is located at 525 W 119th Street Chicago, IL.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: Freestanding 700sf building on a 5,250sf corner lot.; Ideal for office, retail, or restaurant use.; Recently remodeled interior.
