7520 159th St Orland Park, IL 60462-5034
Property profile & analytics
7520 159th St Orland Park, IL 60462-5034
- Retail space
- 3.20 lot acres
Property ID
US28-5691645
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.
Location Intelligence
Current Use by Public Records
- Harbor Freight Tools / Building Supply / Hardware & Home Improvement
- KeyExpress Locksmiths / Locksmith / (Bike/Boat/Book/etc) Store
Property Details for 7520 159th St
- Year built
- 1973
- Lot size
- 3.20 lot acres
- Property type
- Retail space
- APN
- 27-13-402-017
- APU
- 2713402017
Description
This exceptional investment opportunity presents a fee-simple ownership of a 14,910 square foot Harbor Freight Tools storefront, situated on a 2.02-acre lot in Orland Park, Illinois. The property boasts a long-term, corporate-guaranteed net lease with a remaining term of 9.5 years, extending to May 31, 2034, with five 5-year options, each including a 10% rent increase. The current annual net operating income (NOI) is $165,650, representing a 7.00% cap rate on the asking price of $2,366,428 ($158.71 per square foot). The building, constructed in the 1980s (estimated), is 100% occupied by Harbor Freight, a national retailer with over 1,400 locations. The property benefits from its prime location on 159th Street (38,890 vehicles per day) and Harlem Avenue (43,328 vehicles per day), a major intersection providing excellent visibility and accessibility. The surrounding area features numerous national retailers, including Home Depot, Meijer, Hobby Lobby, Menards, and Sam's Club, indicating a strong retail environment. The demographic profile is equally compelling, with 90,225 people residing within a 3-mile radius, boasting an average household income of $110,448. Landlord responsibilities include roof, structure, and parking lot replacement, while the tenant is responsible for all CAM expenses, parking lot repairs, and reimbursement for taxes and insurance. The tenant recently completed a 10-year lease extension and plans to invest over $250,000 in building remodeling within the next five years. This presents a rare opportunity to acquire a stable, high-performing retail investment in a prime Chicagoland location.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,200,000
- ML approach
- $2,225,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Orland Park
- County
- Cook
- State
- Illinois
- Longitude
- -87.802
- Latitude
- 41.6029
- 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
2022
$164,089
$418,569
$24,501
$443,070
-
$1,674,276
$98,004
$1,772,280
