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    8500 W Golf Rd Niles, IL 60714
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    8500 W Golf Rd Niles, IL 60714

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    • Community centers
    • 12.74 lot acres
    For Lease
    $610,000
    View Listing →
    Retail Space at Golf Road For Lease
    $610,000
    2,561 SF

    Retail Space at Golf Road

    Retail space for lease at a high-traffic intersection.

    8500 W Golf Rd, Niles, IL
    View Listing
    Property ID
    US28-1462349
    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
    $610,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Walmart Bakery / Bakery / Specialty Food Shop
    • Subway / Take-out & Catering
    • Walmart Home Theater Installation / Electrical Service / General Contractor
    • Minute Key / Locksmith / (Bike/Boat/Book/etc) Store
    • Walmart House Cleaning Services / Hardware & Home Improvement

    Property Details for 8500 W Golf Rd

    Year built
    2005
    Lot size
    12.74 lot acres
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    09-11-302-030
    APU
    911302030

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $610,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Niles
    County
    Cook
    State
    Illinois
    Longitude
    -87.8359
    Latitude
    42.056
    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
    $800,881
    $1,941,698
    $1,288,958
    $3,230,656
    -
    $7,766,792
    $5,155,832
    $12,922,624

    Comparable in this City

    • Value Estimation
      $1,735,000
      0.75 Acres

      7740 Milwaukee Ave

      MINI-MALL • 0.75 Acres
      7740 Milwaukee Ave, Niles, IL 60714-4707
      View Details
    • Value Estimation by Request

      5555 Touhy Ave

      MINI-MALL
      5555 Touhy Ave, Niles, IL 60714
      View Details
    • Value Estimation
      $500,000
      9.61 Acres

      8730 Dempster St

      MINI-MALL • 9.61 Acres
      8730 Dempster St, Niles, IL 60714-5108
      View Details
    • Value Estimation by Request
      2.47 Acres

      8502 Golf Rd

      MINI-MALL • 2.47 Acres
      8502 Golf Rd, Niles, IL 60714-1154
      View Details
    • Value Estimation
      $500,000
      10.78 Acres

      400 Golf Ml Ctr

      MINI-MALL • 10.78 Acres
      400 Golf Ml Ctr, Niles, IL 60714-1222
      View Details
    • Value Estimation
      $3,245,000
      3.28 Acres

      8526 Golf Rd

      MINI-MALL • 3.28 Acres
      8526 Golf Rd, Niles, IL 60714-1100
      View Details

    Similar Nearby for Sale

    • $260,000
      4,990 SF

      Food Mart Business For Sale

      Food mart business for sale with prime commercial corner location.
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      Freestanding Building on Milwaukee Avenue

      Highly visible commercial building with parking and flexible layout.
      8136 N Milwaukee Ave, Niles, IL 60714
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    • New
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      Freestanding Commercial Building on Milwaukee Avenue

      Highly visible commercial building suitable for retail, office, or service.
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    • $260,000
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      Niles Food Mart Business

      Food mart business for sale in prime commercial location.
      8809 N Milwaukee Ave, Niles, IL 60714
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    • New
      $529,000
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      Freestanding Commercial Building on Milwaukee

      Highly visible commercial building suitable for retail or office use.
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    • Contact for pricing
      3,000 SF

      Freestanding Commercial Building on Milwaukee Avenue

      Highly visible building suitable for retail, office, or medical use.
      8130 N Milwaukee Ave, Niles, IL 60714
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    Similar Nearby for Lease

    • Contact for pricing

      Regional Retail Center in Niles

      Regional shopping center with office tower and anchor tenants.
      239 Golf Mill Ctr, Niles, IL 60714
      View Details
    • Contact for pricing
      12,225 SF

      Retail Space in Densely Populated Area

      Retail spaces available in grocery-anchored power center.
      8203 W Golf Rd, Niles, IL 60714
      View Details
    • Contact for pricing

      Retail Space Near Tony's Market

      Retail property for lease with high traffic and excellent signage.
      8490 North Greenwood Ave, Niles, IL 60714
      View Details
    • Contact for pricing
      2,100 SF

      Jewel-Osco Anchored Retail Space

      Retail space in Niles, anchored by Jewel-Osco.
      7870-7900 N Milwaukee Ave, Niles, IL 60714
      View Details
    • Contact for pricing
      1,504 SF

      Retail Space at Golf Road

      Retail space for lease at a high-traffic intersection.
      8500 W Golf Rd, Niles, IL 60714
      View Details
    • Contact for pricing

      Retail Space in Dempster Plaza

      Retail space for lease in high-traffic Niles shopping center.
      8650 W Dempster St, Niles, IL 60714
      View Details

    Property Visit Statistics

    • Visits by month
      217.6k
    • Visitors by month
      127.3k
    • Avg Time on site
      32 min
    View Listing
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    Niles, IL 60714
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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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