Corner Retail Building with
For Sale
$2,000,000
Pending
200 E 35th Street, Chicago, IL 60616
Commercial Sale, Chicago, IL
Property Size11,000 SF
Lot Size0.27 Acres
Days on Market315
Property Features for 200 E 35th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
35th St. East of I-94 to Corner of Indiana
Subdivision
CHI - Douglas
Standard status
Pending
APN
17341200430000
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
42000
Utilities
Utilities
Water Available
Cooling system
Central Air, Zoned
Amenities
iron gated private parking lot
partial basement
convenient front parking
Building Details
Year built
1978
Floors in Building
2
Number of units
4
Building materials
Brick
Roof type
Tar/Gravel
Listing Agency:
REMAX Legends · RE/MAX International
(630) 216-8000
Listed By:
Jaymi Block · License #471019251
(708) 655-5000
Added: Oct 21, 2025
Changed: Aug 20
Last Checked: Aug 31 at 7:06PM
MLS# 12501188
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 11,000-square-foot retail property is a corner, brick-built commercial building completed in 1978. The layout includes three storefronts, a second-story lounge, and a partial basement. The property is fully leased and includes a privately gated parking area with additional front parking.
The building is located at 200 E 35th Street in Chicago, Illinois, within ZIP Code 60616. It carries COMMR zoning and has water available. Building systems include central air with zoned cooling, while the roof is constructed with tar and gravel.
The building is located at 200 E 35th Street in Chicago, Illinois, within ZIP Code 60616. It carries COMMR zoning and has water available. Building systems include central air with zoned cooling, while the roof is constructed with tar and gravel.
Key Highlights
- 11,000 square feet on a 0.2663‑acre lot
- Three storefronts plus a second‑story lounge
- Fully leased commercial property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$152,183
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,043,660
$3.0M
Cap Rate 7%
$2,174,043
$2.2M
Cap Rate 9%
$1,690,922
$1.7M
Market Conditions
NOI Build-Up for 11,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$237.6K $21.60/SF
− Vacancy
−$20.2K −$1.84/SF
EGI
$217.4K $19.76/SF
− OpEx
−$65.2K −$5.93/SF
NOI
$152.2K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,043,660
Cap Rate 7%
$2,174,043
Cap Rate 9%
$1,690,922
Alternative Uses
Best Use
Retail
$2.17M
$1.90M – $2.54M
NOI $152,183 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.19M
$4.54M – $6.05M
NOI $363,053 @ 7.0% cap · market cap 18.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,412
Businesses Nearby
247k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Groceries 40%
Shops & Services 12%
Apparel 3%
Mariano's
Groceries
57,390 visits/mo
0.5 miles
Jewel-Osco
Groceries
42,423 visits/mo
0.3 miles
McDonald's
Dining
26,583 visits/mo
0.1 miles
Culver's
Dining
22,662 visits/mo
0.3 miles
White Castle
Dining
19,452 visits/mo
0.2 miles
Demographics for 60616, IL
54,013
Population
26,912
Households
2
Avg Household Size
38
Median Age
53%
College-Educated
86%
High-School Grad
3.8 sq mi
ZIP Area
14,214
Density / Sq Mi
$77,841
Median Household Income
$53,415
Median Earnings
$1,329
Median Rent
$387,300
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Fully leased commercial property combines multiple storefronts with an upper-level lounge and private gated parking.
Where is this storefront property located?
The property is located at 200 E 35th Street Chicago, IL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 11,000 square feet on a 0.2663‑acre lot; Three storefronts plus a second‑story lounge; Fully leased commercial property
