Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Center on Harlem Avenue Title is generated by Realmo AI

    8049 S Harlem Ave, Burbank, IL 60459

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Dunkin' anchored retail center with drive-thru on busy Harlem.

    Type:Retail
    Added:
    Aug 22, 2023
    Days on Market:
    1016
    Last Refresh:
    May 12 at 9:57 pm

    Property Features for 8049 S Harlem Ave

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 8049 S Harlem Ave Contact us

    8051 $28/Mo

    Size
    1,224 SF
    Type
    Retail
    Dunkin' anchored retail center on busy Harlem Avenue. Drive-thru building. Ample...
    show more
    Contact us

    We can help!

    Listing Contact
    Kelsey Gross

    Listing agent Kelsey Gross License #IL

    Listing office Brookline Real Estate

    Listing date Aug 22, 2023

    Source Crexi

    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 Brookline Real Estate

    HighLights

    • Dunkin' anchored retail center on busy Harlem Avenue.
    • Heavy retail intersection with Starbucks, Walgreens, Dunkin', McDonald's and Aldi.
    • Drive‑thru building.
    • Ample parking and wide ingress/egress access.
    • Large, visible pylon signage.
    • Close proximity to I‑294 access.

    Overview

    This retail center is anchored by Dunkin' and features a drive-thru building. The property benefits from ample parking and wide ingress/egress access. Visible pylon signage is available. The location is at a heavy retail intersection with Starbucks, Walgreens, Dunkin', McDonald's and Aldi. The property is near dense residential neighborhoods and has a high urban population. It is located approximately 1 mile from SeatGeek Stadium and 4 miles from Midway Airport. The site offers close proximity to I-294.
    Property Profile Location Intelligence

    Current Use by Public Records

    Baskin-Robbins Grocery & Convenience Store Dunkin' Cafe & Coffee Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Pharmacy Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Burbank
    County
    Cook
    State
    Illinois
    Longitude
    -87.7991858
    Latitude
    41.7453978

    Nearby Similar for Lease

    • $15 SF/Yr
      1,920 SF

      Office, Storage, Basement Suite

      Office, storage, and basement suite available for lease.
      5631 W 79th St, Burbank, IL 60459
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Burbank Station

      Retail spaces available in Burbank Station, 2,000-42,296 SF.
      7706-7750 S Cicero Ave, Burbank, IL 60459
      View Details
    • Contact for pricing
      8,690 SF

      Retail Space on Cicero Avenue

      Retail space available in regional shopping destination on Cicero Ave.
      7700 S Cicero Ave, Burbank, IL
      View Details
    • Contact for pricing
      12,000 SF

      Retail Space on Cicero Corridor

      12,000 SF retail space available on a busy corridor.
      7600 La Crosse Ave, Burbank, IL
      View Details
    • Contact for pricing

      Retail Property Available For Rent

      Retail property available for sale or lease in Burbank, IL.
      6161 West 79th Street, Burbank, IL 60459
      View Details
    • $12 SF/Yr
      39,398 SF

      Freestanding Building on Cicero Avenue

      39,398 SF building on 2.70 acres with ample parking.
      8148 S Cicero Avenue, Burbank, IL 60459
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space on Cicero Avenue

      Retail space with high visibility in Burbank Plaza.
      8014 S Cicero Ave, Burbank, IL
      View Details
    • Contact for pricing
      1,300 SF

      Retail Space on Harlem Avenue

      Retail space available in Burbank with high traffic and visibility.
      7909-7945 S Harlem Ave, Burbank, IL
      View Details

    FAQs

    What type of property is this?
    Retail space - Dunkin' anchored retail center with drive-thru on busy Harlem.
    Where is this retail space located?
    The property is located at 8049 S Harlem Ave Burbank, IL.
    What is the lease rate?
    The lease rate is $28 SF/Yr.
    What are key features of this property?
    This property features: Dunkin' anchored retail center on busy Harlem Avenue.; Heavy retail intersection with Starbucks, Walgreens, Dunkin', McDonald's and Aldi.; Drive‑thru building.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kelsey Gross
    Real Estate License ID: IL
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    8049 S Harlem Ave, Burbank, IL 60459
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!