Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    17120 Harlem Ave Tinley Park, IL 60477
    Back to Search
    Property profile & analytics

    17120 Harlem Ave, Tinley Park, IL 60477

    View on Map
    • Retail properties & Spaces
    • 2,278 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Epic Wings / Restaurant

    Property Details for 17120 Harlem Ave

    Year built
    2021
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional 2,278-square-foot restaurant space in Tinley Park, Illinois, presents a rare turnkey opportunity. Located at 17120 S Harlem Ave, this 2021-built property boasts a fully equipped kitchen, including a hood and walk-in refrigerator. All tables and chairs are included in the dining area, minimizing upfront investment. Benefit from excellent co-tenancy with Starbucks and Midwest Express Clinic, ensuring high foot traffic. The building's prime corner location at Harlem Ave and 171st St provides exceptional visibility and ample parking. High traffic counts—over 33,000 vehicles per day on Harlem Ave and over 15,000 on 171st St—guarantee significant exposure. Excellent signage opportunities further enhance visibility. This single-tenant retail space in Cook County is situated in a thriving community. Tinley Park, a rapidly growing suburb southwest of Chicago, had a population of 55,971 in 2020 and is known for its family-friendly environment and vibrant entertainment scene, including the Hollywood Casino Amphitheatre. This turnkey restaurant offers immediate operational capability, making it an ideal opportunity for established restaurateurs or new entrants to the market seeking a strong presence in a high-growth area. Don't miss this chance to establish your business in this desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tinley Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.794
    Latitude
    41.5795

    Comparable in this City

    • Value Estimation by Request
      5,350 SF

      6657 South St

      Restaurants
      6657 South St, Tinley Park, IL 60477
      View Details
    • Value Estimation by Request
      12,161 SF

      7101 183Rd St

      Retail properties & Spaces
      7101 183Rd St, Tinley Park, IL 60477
      View Details
    • Value Estimation by Request
      12,000 SF

      7960 167Th St

      Neighborhood centers
      7960 167Th St, Tinley Park, IL 60477
      View Details
    • Value Estimation by Request
      10,000 SF

      7108 171St St

      Lifestyle centers
      7108 171St St, Tinley Park, IL 60477
      View Details
    • Value Estimation by Request
      9,321 SF

      17016 Oak Park Ave

      Neighborhood centers
      17016 Oak Park Ave, Tinley Park, IL 60477
      View Details
    • Value Estimation by Request
      0.58 Acres

      17500 Duvan Dr

      AUTO REPAIR, GARAGE
      17500 Duvan Dr, Tinley Park, IL 60477-3671
      View Details

    Similar Nearby for Sale

    • $350,000
      0.70 Acres

      Prime Corner Lot Opportunity

      Versatile commercial lot near Expo Center and Amphitheater.
      18301 Oak Park Ave, Tinley Park, IL 60477
      View Details
    • $140,000

      Boba Tea Shop Assets

      Fully equipped boba tea shop assets for sale.
      15945 Harlem Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing

      Versatile Office Condo in Tinley

      Office condo for sale, ideal for various business uses.
      17710 Oak Park Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      12,161 SF

      Retail Space on Heavily Traveled Road

      Retail space available on a heavily traveled road.
      7101-7125 183Rd St, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      5,004 SF

      Tinley Park Commercial Building For Sale

      5,004 SF building near Metra station on 1.21 acres.
      17865 S 80Th Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      4,083 SF

      Freestanding Retail Building in Tinley Park

      Well-maintained 4,083 SF building on 12,253 SF lot.
      17702 Oak Park Ave, Tinley Park, IL 60477
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,500 SF

      Tinley Park Retail Space Available

      Retail space for lease in Tinley Park, Illinois.
      17261-17269 Oak Park Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      6,435 SF

      Retail Space in Tinley Park

      Retail space available in redeveloped Tinley Park shopping center.
      15917-16199 S Harlem Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      1,960 SF

      Retail Space in Tinley Park

      Redeveloped retail space with high visibility and strong anchor tenants.
      16205 S Harlem Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      1,431 SF

      Retail Space on Oak Park

      Available retail space suitable for various professional or retail uses.
      17016-17054 Oak Park Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      14,807 SF

      Retail Space Near Sam's Club

      Retail spaces available in grocery-anchored center with high visibility.
      15930-16060 S Harlem Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing

      Tinley Park Office/Retail Unit

      1,991 SF unit ideal for office or retail use.
      18311 North Creek Dr, Tinley Park, IL 60477
      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.
    17120 Harlem Ave
    Tinley Park, IL 60477
    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
    17120 Harlem Ave, Tinley Park, IL, 60477
    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!