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6417-6419 W 87th St 15,810 SF 100% Leased Retail Building Oak Lawn, IL 60453 $3,300,000 ($208.73/SF) 7.71% Cap Rate
Investment Highlights
- 15,810 SF building
- 100% occupancy
- Renovated in 2025
- Located in Major Shopping & Business District
Executive Summary
Offering a prime investment opportunity in Oak Lawn, IL: 6417-6421 W 87th St. Well maintained property boasts a 15,810 SF building on a +/-48,138 site (roughly 1.10 acres) Features 6 fully leased units. The property offers a solid revenue stream from day one. Renovated in 2025, it presents a contemporary, attractive space for tenants and shoppers alike. Situated in the Chicago MSA at the Oak Lawn & Burbank borders, this 100% occupied strip center is a beacon for retail investors seeking a stable, high-performing asset in a thriving market. With its strategic location and strong tenant base, this property represents an exceptional addition to an investment portfolio.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$414,915
|
$26.24
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$414,915
|
$26.24
|
| Taxes |
$107,711
|
$6.81
|
| Operating Expenses |
$52,868
|
$3.34
|
| Total Expenses |
$160,579
|
$10.16
|
| Net Operating Income |
$254,336
|
$16.09
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $414,915 |
| Annual Per SF | $26.24 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $414,915 |
| Annual Per SF | $26.24 |
| Taxes | |
|---|---|
| Annual | $107,711 |
| Annual Per SF | $6.81 |
| Operating Expenses | |
|---|---|
| Annual | $52,868 |
| Annual Per SF | $3.34 |
| Total Expenses | |
|---|---|
| Annual | $160,579 |
| Annual Per SF | $10.16 |
| Net Operating Income | |
|---|---|
| Annual | $254,336 |
| Annual Per SF | $16.09 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
15,810 SF
Building Class
C
Year Built/Renovated
1962/2025
Price
$3,300,000
Price Per SF
$208.73
Cap Rate
7.71%
NOI
$254,336
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.33
Lot Size
1.10 AC
Opportunity Zone
Yes
Zoning
C-2 Retail/Office - Business District
Parking
49 Spaces (3.1 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Tenant Controlled HVAC
Walk Score®
Very Walkable (70)
Nearby Major Retailers
Property Taxes
| Parcel Number | 24-06-214-018-0000 | Total Assessment | $370,663 (2025) |
| Land Assessment | $120,253 (2025) | Annual Taxes | $107,711 ($6.81/SF) |
| Improvements Assessment | $250,410 (2025) | Tax Year | 2024 Payable 2024 |
Property Taxes
Parcel Number
24-06-214-018-0000
Land Assessment
$120,253 (2025)
Improvements Assessment
$250,410 (2025)
Total Assessment
$370,663 (2025)
Annual Taxes
$107,711 ($6.81/SF)
Tax Year
2024 Payable 2024
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6417-6419 W 87th St
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