7757 Lawrence Ave Norridge, IL 60706
- Lifestyle centers
- 47,792 SF
Current Use by Public Records
- Automatic Appliance Parts / Wholesaler Household Appliances / Appliance Parts Supplier
Property Details for 7757 Lawrence Ave
- Year built
- 1961
- Property size
- 47,792 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a fully occupied, mixed-use property in Norridge, IL. The property comprises three contiguous buildings totaling 47,792 square feet on a 1.94-acre lot, featuring 16 apartment units and 8 commercial retail units, plus a 21,000 square foot free-standing retail building. Currently boasting 100% occupancy, the property generates a substantial net operating income (NOI) of $352,497, with a current cap rate of 7.19% and a pro-forma cap rate of 9.58%. The asking price is $4,900,000, translating to $102.53 per square foot. Built in 1961, the two-story buildings are zoned B-2. Financial records indicate a gross income of $538,080 and total expenses of $185,582.51, including taxes ($142,261.55), insurance ($21,528.14), utilities ($16,310), and legal/accounting fees ($5,482.82). The property's strategic location near O'Hare Airport and I-90 Expressway, combined with its strong tenant base and high occupancy rate, makes it an attractive investment for owner-users seeking a stable and profitable income stream. The property includes ample parking. The Cook County Assessor's Parcel Numbers (APN) are 12131150190000, 12131150180000, and 12131150170000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Norridge
- County
- Cook
- State
- Illinois
- Longitude
- -87.8216
- Latitude
- 41.9667
