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    Property profile & analytics

    7960 167Th St Tinley Park, IL 60477

    • Neighborhood centers
    • 12,000 SF
    For Lease
    View listing
    $15 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 7960 167Th St

    Property size
    12,000 SF
    Property type
    Neighborhood centers
    Property subtype
    Community centers

    Description

    Parkview Plaza, located at 7960 W 167th St in Tinley Park, IL 60477, offers exceptional executive office space within a vibrant neighborhood center. This Cook County property boasts a total of 12,000 square feet, currently featuring two available inline suites. Each suite offers approximately 1,200 square feet of flexible space, with the possibility of combining both for a total of 2,400 contiguous square feet. The property is ideally suited for businesses seeking a convenient and accessible location. The building is a multi-tenant property, providing a collaborative and dynamic work environment. Currently, 3,600 square feet of space is available for lease. The property type is classified as Retail and Office, specifically catering to executive office needs. Ample parking is available for tenants and their clients. The location is anchored by Little Joe's Pizzeria, ensuring high foot traffic and visibility. This presents a unique opportunity for businesses seeking a prime location in a thriving Tinley Park community. The minimum leasable space is 1,200 square feet, while the maximum contiguous space available is 2,400 square feet.

    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
    -87.7862
    Latitude
    41.57

    Comparable in this City

    • Value Estimation by Request
      9,321 SF

      17016 Oak Park Ave

      Neighborhood centers • 9,321 SF
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    • Value Estimation by Request
      10,000 SF

      7108 171St St

      Lifestyle centers • 10,000 SF
      7108 171St St, Tinley Park, IL 60477
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    • Value Estimation
      $400,000
      1.49 Acres

      16701 29th S 80th Ave

      MINI-MALL • 1.49 Acres
      16701 29th S 80th Ave, Tinley Park, IL 60477
      View Details
    • Value Estimation
      $415,000
      9.29 Acres

      6901 159th St

      MINI-MALL • 9.29 Acres
      6901 159th St, Tinley Park, IL 60477-1789
      View Details
    • Value Estimation
      $385,000
      0.65 Acres

      17101 Harlem Ave

      MINI-MALL • 0.65 Acres
      17101 Harlem Ave, Tinley Park, IL 60477-3369
      View Details
    • Value Estimation
      $490,000
      17.50 Acres

      6809 159th St

      MINI-MALL • 17.50 Acres
      6809 159th St, Tinley Park, IL 60477
      View Details

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    Similar Nearby for Lease

    • $15 SF/Yr
      12,000 SF

      Parkview Plaza Executive Suites

      Tinley Park Office Space, 1200-2400 SF
      7960 167Th St, Tinley Park, IL 60477
      View Details
    • $22 SF/Yr
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      Tinley Park Office Space Available

      Move-in ready office space in a busy strip center.
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      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
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    • $19 SF/Yr
      12,161 SF

      Tinley Park Retail Space For Sale

      Prime Retail Location, 12,161 SF Total
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    • Contact for pricing
      8,000 SF

      Retail Space in Major Corridor

      Retail spaces available in grocery-anchored shopping center.
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    • Contact for pricing
      1,569 SF

      Retail Space in Tinley Park

      Retail spaces available in growing Tinley Park, Illinois.
      17821-17847 80Th Ave, Tinley Park, IL 60477
      View Details
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    7960 167Th St
    Tinley Park, IL 60477
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    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
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