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7701–7757 W Lawrence Avenue, Norridge, IL 607 7701–7757 W Lawrence Avenue 16 Unit Apartment Building $6,684,776 CAD ($417,799 CAD/Unit) 7.29% Cap Rate Norridge, IL 60706
Investment Highlights
- Current net $381,073, Pro-Forma net income of $605,773
- 21,000 SF Single tenant stand alone building
- 8 Retail Commercial Units, 16 Apartments
- Long term tenants with very attractive rental rates
Executive Summary
A rare opportunity to acquire a high-performing mixed-use investment in the heart of the Village of Norridge, IL. This three-building portfolio features a healthy mix of residential and retail tenants, with strong cash flow and clear value-add potential.
3 contiguous parcels: 12-13-115-017-0000, 12-13-115-018-0000, 12-13-115-019-0000
16 Apartments: (8 two-bedroom, 8 one-bedroom)
8 Retail Units (ground floor)
21,000 SF Free-Standing Retail Building
15,000 SF main floor (w/6,000 SF basement with racking-height ceilings)
Ample on-site parking
Vacancy: One retail space available, projected at $6,500/month ($78,000 annually).
Residential rents: Below market; potential to increase by $146,700 annually.
Current Income & Expenses
Gross Income (Current) $560,830
Gross Income (Pro Forma) $785,530
Main Operating Expenses (2024) $203,757
• Taxes $129,298
• Insurance $30,190
• Utilities $29,844
• Snow, Garbage, Pest, Maintenance $14,425
Net Operating Income (Current) $357,073
Net Operating Income (Pro Forma) $581,773
Value-Add Potential
Residential Upside
Current apartment income: $155,220/year
Pro forma apartment income: $302,400/year
Market rents assumed:
1BR: $1,500/month
2BR: $1,650/month
No major renovations required to achieve market levels
Retail Upside
One unit currently under construction, with confirmed tenant interest at $6,500/month
Additional upside through future lease adjustments at renewal
Investment Highlights
Fully stabilized asset with built-in upside
Strong commercial tenant mix + long-term residential renters
21,000 SF freestanding retail building anchors portfolio stability
Prime suburban-Chicago location with strong demand and development potential
Summary: This portfolio combines stable cash flow with clear opportunities to unlock higher returns through strategic rent adjustments and lease optimization. Positioned in a high-demand suburban-Chicago market, it offers both immediate income and long-term appreciation potential.
3 contiguous parcels: 12-13-115-017-0000, 12-13-115-018-0000, 12-13-115-019-0000
16 Apartments: (8 two-bedroom, 8 one-bedroom)
8 Retail Units (ground floor)
21,000 SF Free-Standing Retail Building
15,000 SF main floor (w/6,000 SF basement with racking-height ceilings)
Ample on-site parking
Vacancy: One retail space available, projected at $6,500/month ($78,000 annually).
Residential rents: Below market; potential to increase by $146,700 annually.
Current Income & Expenses
Gross Income (Current) $560,830
Gross Income (Pro Forma) $785,530
Main Operating Expenses (2024) $203,757
• Taxes $129,298
• Insurance $30,190
• Utilities $29,844
• Snow, Garbage, Pest, Maintenance $14,425
Net Operating Income (Current) $357,073
Net Operating Income (Pro Forma) $581,773
Value-Add Potential
Residential Upside
Current apartment income: $155,220/year
Pro forma apartment income: $302,400/year
Market rents assumed:
1BR: $1,500/month
2BR: $1,650/month
No major renovations required to achieve market levels
Retail Upside
One unit currently under construction, with confirmed tenant interest at $6,500/month
Additional upside through future lease adjustments at renewal
Investment Highlights
Fully stabilized asset with built-in upside
Strong commercial tenant mix + long-term residential renters
21,000 SF freestanding retail building anchors portfolio stability
Prime suburban-Chicago location with strong demand and development potential
Summary: This portfolio combines stable cash flow with clear opportunities to unlock higher returns through strategic rent adjustments and lease optimization. Positioned in a high-demand suburban-Chicago market, it offers both immediate income and long-term appreciation potential.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,071,651
|
$37.04
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,071,651
|
$37.04
|
| Taxes |
$176,394
|
$6.10
|
| Operating Expenses |
$101,580
|
$3.51
|
| Total Expenses |
$277,973
|
$9.61
|
| Net Operating Income |
$793,678
|
$27.43
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,071,651 |
| Annual Per SF | $37.04 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,071,651 |
| Annual Per SF | $37.04 |
| Taxes (CAD) | |
|---|---|
| Annual | $176,394 |
| Annual Per SF | $6.10 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $101,580 |
| Annual Per SF | $3.51 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $277,973 |
| Annual Per SF | $9.61 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $793,678 |
| Annual Per SF | $27.43 |
Property Facts
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Total Assessment | $556,670 CAD (2025) | |
| Land Assessment | $125,533 CAD (2025) | Annual Taxes | $176,394 CAD ($6.10 CAD/SF) |
| Improvements Assessment | $431,137 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$125,533 CAD (2025)
Improvements Assessment
$431,137 CAD (2025)
Total Assessment
$556,670 CAD (2025)
Annual Taxes
$176,394 CAD ($6.10 CAD/SF)
Tax Year
2026
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7701–7757 W Lawrence Avenue, Norridge, IL 607 | 7701–7757 W Lawrence Avenue
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