Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Franklin Park Retail Space Available Title is generated by Realmo AI

    9662-9684 Franklin Ave, Franklin Park, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space in downtown Franklin Park suitable for various businesses.

    Type:MULTIFAMILY
    Property size:
    1,848 SF
    Lot size:
    1.71 Acres
    Added:
    Jan 15, 2025
    Days on Market:
    482
    Last Refresh:
    Apr 5 at 9:24 pm

    Property Features for 9662-9684 Franklin Ave

    General Information

    Standard status
    Active
    Size
    1,848 SF
    Lot size
    1.71 Acres
    Property subtype
    MULTIFAMILY

    Spaces For Lease

    at 9662-9684 Franklin Ave Contact us

    We can help!

    Listing Contact
    Christine Simek
    Christine Simek

    Listing agent Christine Simek

    Listing office XR Advisors

    Listing date Jan 15, 2025

    Source Moodyscre

    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 XR Advisors

    HighLights

    • Prime downtown Franklin Park location.
    • Suitable for a variety of businesses: restaurant, law firm, accountant, med spa, beauty services, and dog grooming.
    • Public parking located behind the property.
    • Off‑street parking available.
    • New sidewalks.

    Overview

    Located in the heart of downtown Franklin Park, this retail space offers 1848 square feet. The property is suitable for a variety of businesses including restaurants, law firms, accounting practices, med spas, beauty services, and dog grooming. New sidewalks have been installed. Public parking is available behind the property, with additional off-street parking also accessible.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.8673
    Latitude
    41.936

    Nearby Similar for Lease

    • $11 SF/Yr

      O'Hare Industrial Market Units

      Units in O'Hare Industrial Market with dock access.
      10915-10929 Franklin Avenue, Franklin Park, IL 60131
      View Details
    • Contact for pricing

      Retail Space with Ample Parking

      Retail space available in shopping center with high traffic.
      2713-2745 Mannheim Road, Franklin Park, IL 60131
      View Details
    • $40 SF/Yr

      Modern Dental Facility For Rent

      Newly constructed dental facility with six operatories in high-traffic area.
      2633 Mannheim Rd, Franklin Park, IL
      View Details
    • $15 SF/Yr

      Retail Space with Ample Parking

      Retail space featuring ample parking and flexible layouts for rent.
      10001-10015 Grand Ave, Franklin Park, IL
      View Details
    • Contact for pricing

      Franklin Park Industrial Warehouse Space

      Industrial warehouse space for lease near O'Hare Airport.
      3501 Mount Prospect Road, Franklin Park, IL, 60131
      View Details
    • Contact for pricing

      Franklin Park Industrial/Manufacturing/Cold Storage Space

      Industrial/manufacturing/cold storage space in Franklin Park's booming industrial corridor.
      9234 Belmont Ave, Franklin Park, IL 60131
      View Details
    • Contact for pricing

      Food Production Facility For Rent

      12,027 SF food production facility near O'Hare Airport.
      11227 Franklin Avenue, Franklin Park, IL, 60131
      View Details
    • $7,950/Mo

      Industrial Warehouse Space Near O'Hare

      5,000 SF industrial/warehouse space near O'Hare Airport.
      485 Podlin Dr, Franklin Park, IL
      View Details
    • Contact for pricing

      Restaurant Space For Lease

      1,600 SF restaurant space in Franklin Park, Illinois.
      2926 Mannheim Rd, Franklin Park, IL 60131
      View Details
    • Contact for pricing

      Franklin Park Retail Showroom

      Standalone retail showroom with parking in Franklin Park, Illinois.
      10220 Grand Avenue, Franklin Park, IL 60131
      View Details
    • $60 SF/Yr

      Retail Space in Franklin Park

      Retail space available for lease in Franklin Park, Illinois.
      9001 Belmont Ave, Franklin Park, IL
      View Details
    • Contact for pricing

      Franklin Park Warehouse Space Available

      12,233 SF warehouse space with interior docks for lease.
      2980 Hart Ct, Franklin Park, IL
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space in downtown Franklin Park suitable for various businesses.
    Where is this retail space located?
    The property is located at 9662-9684 Franklin Ave Franklin Park, IL.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Prime downtown Franklin Park location.; Suitable for a variety of businesses: restaurant, law firm, accountant, med spa, beauty services, and dog grooming.; Public parking located behind the property.
    (847) 239-7500 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Christine Simek
    Christine Simek
    Learn More
    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
    9662-9684 Franklin Ave, Franklin Park, IL
    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!