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    3242 Sheridan Rd Zion, IL 60099
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    3242 Sheridan Rd, Zion, IL 60099

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    • Retail space
    • 7,776 SF
    • 0.50 lot acres
    For Lease
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    Retail Space in Zion, IL For Lease
    Contact for pricing

    Retail Space in Zion, IL

    Retail space near Illinois Beach State Park and Zion Town Center.

    3242 Sheridan Rd, Zion, IL 60099
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    Property ID
    US28-0032201
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 3242 Sheridan Rd

    Year built
    2005
    Construction
    STEEL FRAME
    Lot size
    0.50 lot acres
    Property type
    Retail space
    APN
    04-28-225-027
    APU
    428225027

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 18, 2018 — Family Video Movie Club INC — Deed · related $500k · United Community Bank
    Nov 15, 2004 $640,000 Family Video Movie Club INC Dean,billy G Grant Deed $1M · Northbrook Bank & Trust Co
    Oct 25, 2004 $63,000 Bill Dean Suttie,david L SR Grant Deed —
    Oct 25, 2004 — Bill Dean Suttie,marjorie A Grant Deed · related —
    — — Family Video Movie Club INC — Deed Of Trust · related $4.2M · Illini Bk

    Description

    This 7,731 square foot retail strip center in Zion, IL, presents a prime leasing opportunity. Located at 3242 Sheridan Rd., the property features 5,031 square feet of immediately available space in a multi-tenant building. The 0.78-acre lot provides ample parking for 55 vehicles, ensuring convenient access for customers and employees. The property boasts high visibility from major transportation routes, making it an ideal location for businesses seeking high foot traffic. Its versatile floor plan and professional exterior offer a canvas for businesses to establish or expand their presence. The property's strategic location within a high-traffic area makes it an attractive prospect for a diverse range of businesses seeking a thriving and dynamic environment. This is an exceptional opportunity to secure a prominent retail space in a bustling community. The available space offers significant potential for growth and success, making it an attractive investment for businesses looking to establish a strong presence in the Zion market. The property's convenient location and ample parking ensure easy accessibility for customers, contributing to a positive and productive business environment. Don't miss this chance to secure a prime retail location in a vibrant and growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Zion
    County
    Lake
    State
    Illinois
    Longitude
    -87.826
    Latitude
    42.4357
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $23,127
    $59,395
    $104,908
    $164,303
    -
    $178,203
    $314,755
    $492,958

    Comparable in this City

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      2384 Sheridan Rd

      RETAIL STORES (PERSONAL SERVICES)
      2384 Sheridan Rd, Zion, IL 60099-2409
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    • Value Estimation
      $505,000
      7,510 SF

      3318 Sheridan Rd

      RETAIL STORES (PERSONAL SERVICES)
      3318 Sheridan Rd, Zion, IL 60099-3661
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    • Value Estimation by Request
      2,450 SF

      2161 Sheridan Rd

      RETAIL STORES (PERSONAL SERVICES)
      2161 Sheridan Rd, Zion, IL 60099-2326
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      $645,000
      8,520 SF

      1301 21st St

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      1301 21st St, Zion, IL 60099-2334
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    • Value Estimation by Request
      6,840 SF

      2415 23rd St

      RETAIL STORES (PERSONAL SERVICES)
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    Similar Nearby for Lease

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      New Retail Center in Zion

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      Retail Space on Sheridan Road

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      Retail Space in Zion Business District

      Retail spaces available in Zion's central business district.
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    Zion, IL 60099
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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.

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