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7359-7363 W North Ave 3,600 SF 100% Leased Retail Building River Forest, IL 60305 $600,000 ($166.67/SF) 6.93% Cap Rate
Executive Summary
** ATTENTION COMMERCIAL / RETAIL INVESTORS ** This property consists of two renovated adjoining storefronts, each leased to long-term tenants, a Chiropractor and a Fitness Studio, in the charming village of River Forest, bordering Elmwood Park. Offering strong visibility along busy North Avenue (IL-64), which carries roughly 30,000 vehicles per day, the building includes the +/-2,200 SF unit at 7361 and the +/-1,000 SF space at 7363, forming a single-story retail/commercial structure on a 50'x118' 5,900 SF lot with an 8 car parking lot zoned R1. Located in an immediate western Chicago suburb, the asset is ideal for continued retail, service, office, or owner-operator use.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$75,720
|
$21.03
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$75,720
|
$21.03
|
| Taxes |
$26,233
|
$7.29
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$26,233
|
$7.29
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $75,720 |
| Annual Per SF | $21.03 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $75,720 |
| Annual Per SF | $21.03 |
| Taxes | |
|---|---|
| Annual | $26,233 |
| Annual Per SF | $7.29 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $26,233 |
| Annual Per SF | $7.29 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront
Building Size
3,600 SF
Building Class
C
Year Built/Renovated
1949/2021
Price
$600,000
Price Per SF
$166.67
Cap Rate
6.93%
NOI
$41,602
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.61
Lot Size
0.14 AC
Zoning
B2
Parking
16 Spaces (4.44 Spaces per 1,000 SF Leased)
Frontage
49’ on W North Ave
Moderately walkable
70/100
Fairly drivable
50/100
Good public transit
60/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 15-01-203-010-0000 | Total Assessment | $24,867 |
| Land Assessment | $18,438 | Annual Taxes | $26,233 ($7.29/SF) |
| Improvements Assessment | $6,429 | Tax Year | 2025 |
Property Taxes
Parcel Number
15-01-203-010-0000
Land Assessment
$18,438
Improvements Assessment
$6,429
Total Assessment
$24,867
Annual Taxes
$26,233 ($7.29/SF)
Tax Year
2025
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7359-7363 W North Ave
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