Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    7711 Lawrence Ave Harwood Heights, IL 60706
    Property profile & analytics

    7711 Lawrence Ave Harwood Heights, IL 60706

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Headlines Hair Salon Ltd / Hair Salon

    Property Details for 7711 Lawrence Ave

    Property type
    Retail properties & Spaces

    Description

    This exceptional retail property, located at 7711 W Lawrence Ave in Norridge, Illinois (zip code 60706), offers a fantastic opportunity for a small business. The main floor boasts 936 square feet of well-maintained retail space, featuring new drywall, making it immediately ready for occupancy. The property's high-visibility location within a busy strip center ensures significant foot traffic and exposure. A significant advantage is the inclusion of a 954 square foot basement, providing ample storage or operational space at no additional cost. This adds considerable value, resulting in a total usable area of 1830 square feet. The property is classified as retail and office space, suitable for a variety of businesses. Situated in Cook County, Illinois, this single-tenant space presents a turnkey solution in a prime location. The property is conveniently located in Norridge, IL, with easy access to major transportation routes. This is an ideal opportunity for a business seeking a move-in ready space with significant added storage in a high-traffic area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Harwood Heights
    County
    Cook
    State
    Illinois
    Longitude
    -87.8199
    Latitude
    41.9669

    Comparable in this City

    • Value Estimation by Request

      7723 Lawrence Ave

      Office Units
      7723 Lawrence Ave, Norridge, IL 60706
      View Details
    • Value Estimation by Request
      7,500 SF

      7319 Lawrence Ave

      Restaurants • 7,500 SF
      7319 Lawrence Ave, Harwood Heights, IL 60706
      View Details
    • Value Estimation by Request
      0.31 Acres

      7800 Irving Park Rd

      NURSERY, GREENHOUSE, FLORIST • 0.31 Acres
      7800 Irving Park Rd, Norridge, IL 60706-2135
      View Details
    • Value Estimation by Request
      21,000 SF

      7757 Lawrence Ave

      Retail properties & Spaces • 21,000 SF
      7757 Lawrence Ave, Norridge, IL 60706
      View Details
    • Value Estimation by Request
      47,792 SF

      7757 Lawrence Ave

      Lifestyle centers • 47,792 SF
      7757 Lawrence Ave, Norridge, IL 60706
      View Details
    • Value Estimation by Request
      0.05 Acres

      7304 Irving Park Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.05 Acres
      7304 Irving Park Rd, Norridge, IL 60706-7224
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      47,792 SF

      Norridge Mixed-Use Investment Portfolio

      Three-building portfolio with residential and retail units, value-add potential.
      7757 W Lawrence Ave, Norridge, IL 60706
      View Details
    • Contact for pricing

      Harlem Avenue Retail Opportunity

      14,558 SF junior box on heavily trafficked Harlem Avenue.
      4514 N Harlem Ave, Norridge, IL 60706
      View Details
    • $4,900,000
      47,792 SF

      Mixed-Use Property with Retail Building

      Mixed-use property featuring apartment units, retail spaces, and building.
      7701-7757 W Lawrence Ave, Norridge, IL 60706
      View Details
    • $4,900,000
      21,000 SF

      Mixed-Use Investment Opportunity in Norridge

      High-performing mixed-use portfolio with residential and retail units.
      7701-7757 W Lawrence Ave, Norridge, IL 60706
      View Details
    • $149,500
      1,997 SF

      Profitable Salon/Spa Business Opportunity

      Modern salon/spa business for sale in Norridge, Illinois.
      4701 N Cumberland Ave, Norridge, IL 60706
      View Details
    • $857,000
      9,000 SF

      Norridge 5-Unit Brick Building

      Five-unit building in Norridge with income upside potential.
      8121 West Lawrence Ave, Norridge, IL 60706
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Retail Space Available

      Retail space in a high-traffic, residential area.
      7723 W Lawrence Ave, Norridge, IL 60706
      View Details
    • Contact for pricing

      Harlem Avenue Retail Space

      Retail space available on Harlem Avenue near Harlem Irving Plaza.
      4455 North Harlem Ave, Norridge, IL 60706
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space available for lease in Harwood Heights, Illinois.
      7304 W Lawrence Ave, Harwood Heights, IL 60706
      View Details
    • $24 SF/Yr
      70,345 SF

      Holiday Plaza Retail Space Available

      Harwood Heights, IL Strip Center - 70,345 SF
      4747 Harlem Ave, Harwood Heights, IL 60706
      View Details
    • Contact for pricing
      3,750 SF

      Norridge Retail Space For Lease

      Retail spaces available in Norridge Commons shopping center.
      4103-4137 N Harlem Ave, Norridge, IL 60706
      View Details
    • Contact for pricing
      66,560 SF

      Retail Space on Harlem Avenue

      Retail space available in high-traffic Harlem Avenue corridor.
      4710 North Harlem Ave, Harwood Heights, IL 60706
      View Details
    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.
    7711 Lawrence Ave
    Harwood Heights, IL 60706
    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
    7711 Lawrence Ave, Harwood Heights, IL, 60706
    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!