Fully Leased Retail Strip
9901-9909 S Harlem Chicago Ridge, IL 60415
For Sale
$2,600,000
Retail strip center is fully leased to two tenants with ample parking and frontage on a busy, high-traffic street.
Days on Market30
Property Features for 9901-9909 S Harlem
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Year Built
1975
Listing Agency:
RE/MAX 1st Service
(708) 675-1600
Listed By:
Faten Razik
(708) 675-1600
Source:
Perillorealestategroup
Added: Jul 1
Changed: Jul 28
Last Checked: Jul 29 at 12:50PM
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 RE/MAX 1st Service
Investment Insights
Based on property information with market context.
This fully leased retail strip center is occupied by two rent-paying tenants, providing immediate, income-producing occupancy. The property is set up to serve convenient customer access, with ample parking to support retail traffic.
Positioned on a busy, high-traffic street, the center benefits from strong visibility and exposure to passing customers. It is also located among residential neighborhoods and nearby retail and dining, supporting ongoing demand in the surrounding area.
For investors seeking stabilized retail income, the offering includes two established tenants within a retail-focused center configuration.
Positioned on a busy, high-traffic street, the center benefits from strong visibility and exposure to passing customers. It is also located among residential neighborhoods and nearby retail and dining, supporting ongoing demand in the surrounding area.
For investors seeking stabilized retail income, the offering includes two established tenants within a retail-focused center configuration.
Key Highlights
- Retail strip center built in 1975, fully leased to two rent‑paying tenants
- Ample parking and customer‑friendly access with frontage on a busy, high‑traffic street
- Income‑producing retail center positioned on a major thoroughfare for strong exposure to passing traffic
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 | $183.6k | $21.60 |
| − Vacancy | −$15.1k | −$1.77 |
| EGI | $168.5k | $19.83 |
| − OpEx | −$50.6k | −$5.95 |
| NOI | $118.0k | $13.88 |
8,500 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.69M
$1.47M – $1.97M
NOI $117,981 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.93M
$2.57M – $3.42M
NOI $205,426 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip center is fully leased to two tenants with ample parking and frontage on a busy, high-traffic street.
Where is this strip mall located?
The property is located at 9901-9909 S Harlem Chicago Ridge, IL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Retail strip center built in 1975, fully leased to two rent‑paying tenants; Ample parking and customer‑friendly access with frontage on a busy, high‑traffic street; Income‑producing retail center positioned on a major thoroughfare for strong exposure to passing traffic
