Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    207 Halsted St Chicago Heights, IL 60411

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    207 Halsted St Chicago Heights, IL 60411

    View on Map
    • Retail properties & Spaces
    • 2,306 SF
    • 1.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Arby's / Restaurant / Take-out & Catering

    Property Details for 207 Halsted St

    Year built
    2002
    Lot size
    1.00 lot acres
    Property size
    2,306 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional Class A retail property, located at 207 S Halsted St, Chicago Heights, IL 60411, presents a rare opportunity. The 2,306 square foot building, situated on one acre of land, boasts a single-tenant occupancy and a highly desirable quick-service restaurant (QSR) configuration complete with a drive-thru. Built in 2002 and extensively renovated in 2019, this property offers a modern, efficient layout ideal for a variety of food service businesses. The building features 25 parking spaces and an eight-car drive-thru stack, ensuring ample space for customers. Its strategic location on Halsted Street, near Vollmer Rd, provides excellent visibility and accessibility, benefiting from a high volume of daily traffic exceeding 22,000 vehicles. The B2 zoning allows for a range of uses. Cook County property taxes are $54 per square foot. The property's single-story design and modern amenities make it an attractive investment, offering the benefits of a new build with a significantly faster delivery timeline. This is a turnkey operation ready for immediate occupancy. APN: 32-16-102-020-0000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chicago Heights
    County
    Cook
    State
    Illinois
    Longitude
    -87.6354
    Latitude
    41.5269

    Comparable in this City

    • Value Estimation by Request

      1529 Western Ave

      Wedding venues
      1529 Western Ave, Chicago Heights, IL 60411
      View Details
    • Value Estimation by Request
      7,500 SF

      51 Sauk Trl

      Automotive properties • 7,500 SF
      51 Sauk Trl, South Chicago Heights, IL 60411
      View Details
    • Value Estimation by Request
      10,200 SF

      11 14Th St

      Retail properties & Spaces • 10,200 SF
      11 14Th St, Chicago Heights, IL 60411
      View Details
    • Value Estimation by Request
      2,516 SF

      1488 Aberdeen St

      Office properties & Spaces • 2,516 SF
      1488 Aberdeen St, Chicago Heights, IL 60411
      View Details
    • Value Estimation by Request
      137,715 SF

      79-207 Joe Orr Rd

      Neighborhood centers • 137,715 SF
      79-207 Joe Orr Rd, Chicago Heights, IL 60411
      View Details
    • Value Estimation by Request
      18,326 SF

      2561 Sauk Trl

      Retail properties & Spaces • 18,326 SF
      2561 Sauk Trl, Sauk Village, IL 60411
      View Details

    Similar Nearby for Sale

    • $799,900
      2,980 SF

      Redevelopment Opportunity on High-Traffic Corner

      Vacant 2,980 SF building on 0.75 acres for sale.
      2700 E Sauk Trl, Sauk Village, IL 60411
      View Details
    • $275,000

      Commercial Space with Expansion Potential

      Seven-unit commercial space on three acres with expansion opportunities.
      1531 Western Ave, Chicago Heights, IL 60411
      View Details
    • $350,000

      Prime Retail Corner Land Available

      Excellent corner location for various commercial and retail developments.
      19758 Stoney Island Ave, Lynwood, IL 60411
      View Details
    • $245,000

      Versatile Commercial Property on Lincoln Highway

      4,829 SF building on high-traffic Lincoln Highway, Chicago Heights.
      348 W 14Th St, Chicago Heights, IL 60411
      View Details
    • Contact for pricing

      Commercial Corner Ready for Development

      4 acres commercial corner lot, excellent development opportunity.
      19758 Stony Is Ave, Lynwood, IL 60411
      View Details
    • Contact for pricing
      10,200 SF

      Chicago Heights Retail Opportunity

      Retail property with drive-thru and high traffic visibility.
      11 E 14Th St, Chicago Heights, IL 60411
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,282 SF

      Former Restaurant with Drive-Thru

      Restaurant space with drive-thru, full kitchen, and cooler.
      2703 E Sauk Trl, Sauk Village, IL 60411
      View Details
    • Contact for pricing
      2,306 SF

      Remodeled Drive-Thru Opportunity

      Recently renovated drive-thru restaurant space available for lease.
      207 S Halsted St, Chicago Heights, IL 60411
      View Details
    • $16 SF/Yr
      1,565 SF

      Retail Space in Chicago Heights

      Retail space available with high visibility and ample parking.
      79-177 West Joe Orr Rd, Chicago Heights, IL 60411
      View Details
    • Contact for pricing
      7,600 SF

      Retail Suites Available for Lease

      Two suites available at Sauk Plaza in Sauk Village.
      16-19 E Sauk Trl, Sauk Village, IL 60411
      View Details
    • Contact for pricing

      High-Traffic Retail Space Available

      Retail spaces in a high-traffic shopping center with ample parking.
      79-207 W Joe Orr Rd, Chicago Heights, IL 60411
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Torrence Avenue

      Retail space in a growing community with high traffic.
      19755-19771 Torrence Ave, Lynwood, IL 60411
      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.
    207 Halsted St
    Chicago Heights, IL 60411
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!