15850 Cicero AveOak Forest, IL 60452

Property Details for 15850 Cicero Ave

Lot size

0.55 AC

Property type

Retail space

APN

28-16-417-003

APU

2816417003

Description

This exceptional retail opportunity is located at 15850-15852 Cicero Avenue in Oak Forest, Illinois, 60452. The property offers a total of 4,972 square feet of newly constructed retail space, divisible into units ranging from 1,200 to 4,732 square feet. Situated at a busy intersection with over 60,000 vehicles passing daily, this location boasts exceptional visibility and high traffic counts. The property benefits from its strategic placement within the Oak Forest Gateway Association, adjacent to the Metra Rock Island District rail station, serving over 1,000 daily commuters. This prime location offers easy access for customers and employees alike. Current tenants include Starbucks, ATI Physical Therapy, First Savings Bank, and a DG Market, creating a vibrant and established commercial environment. The property's prominent location at a traffic-signalized hard corner ensures maximum visibility. Future development plans for the area include a multi-family residential complex with an estimated 160+ units, further enhancing the area's appeal and foot traffic. This space is ideal for a variety of retail uses, including quick-service restaurants (QSR), service-oriented businesses, medical-related tenants (med-tail), and more. Don't miss this chance to secure a space in a thriving and rapidly developing commercial center.

• CAP approach

  CAP return

  Valuation

  6%

  $11,298,776

  6.5%

  $10,429,639

  7%

  $9,684,665

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,850,277

  Geo Method

  $7,850,277

• Alternative Use

  Use

  Valuation

  Residential

  $8,797,791

  Hospitality

  $8,058,730

  Educational

  $6,704,768

  Medical

  $6,935,356

  Retail

  $10,429,639

Location Insight

City

Oak Forest

County

Cook

State

Illinois

Latitude

41.6037

Longitude

-87.7374

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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