Single-Story Office
For Sale
$265,000
4448 Oakton Street, Skokie, IL 60076
Commercial Sale, Skokie, IL
Property Size1,700 SF
Lot Size0.07 Acres
Price / SF$155.88
Days on Market84
Property Features for 4448 Oakton Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
COMMR
Directions
Skokie Blvd. -east on Oakton St. to address Crawford Ave. to Oakton St. then west to address
Subdivision
Skokie
Standard status
Active
APN
12233103000000
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
12281
Utilities
Cooling system
Central Air
Building Details
Year built
1958
Floors in Building
1
Number of units
1
Building materials
Brick, Concrete
Listing Agency:
Century 21 Circle · Coldwell Banker Real Estate
(773) 465-4200
Listed By:
Mark Ahmad · License #471007186
(312) 513-4490
Added: Jun 4
Changed: Aug 20
Last Checked: Aug 26 at 6:06AM
MLS# 12661194
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 approximately 1,700 Sq. ft. single-story office unit is currently configured for professional office use. The layout includes a reception area, conference rooms, four private offices, a kitchenette, and two bathrooms. Brick and concrete construction, central air, and a 1958 construction date further define the property. COMMR zoning is identified for the site.
The property sits along Oakton Street in Skokie’s business corridor, with dining, shops, entertainment venues, the Skokie Heritage Museum, and Emily Oaks Nature Center nearby. Lincoln Avenue, Oakton Street’s business and entertainment corridor, and a transit station are described as within walking distance, while major roads and interstates are a short distance away.
The property sits along Oakton Street in Skokie’s business corridor, with dining, shops, entertainment venues, the Skokie Heritage Museum, and Emily Oaks Nature Center nearby. Lincoln Avenue, Oakton Street’s business and entertainment corridor, and a transit station are described as within walking distance, while major roads and interstates are a short distance away.
Key Highlights
- Approximately 1,700 Sq. ft. office unit
- Reception area, conference rooms, and 4 private offices
- Kitchenette and 2 bathrooms
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
$23,596
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
8.90%
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%
$471,920
$471.9K
Cap Rate 7%
$337,086
$337.1K
Cap Rate 9%
$262,178
$262.2K
Market Conditions
NOI Build-Up for 1,700 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
$36.7K $21.60/SF
− Vacancy
−$3.0K −$1.77/SF
EGI
$33.7K $19.83/SF
− OpEx
−$10.1K −$5.95/SF
NOI
$23.6K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
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%
$471,920
Cap Rate 7%
$337,086
Cap Rate 9%
$262,178
Alternative Uses
Best Use
Retail
$337.1K
$295.0K – $393.3K
NOI $23,596 @ 7.0% cap · market cap 8.90%
Second Best
Office B
$334.9K
$293.0K – $390.7K
NOI $23,440 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$586.9K
$513.6K – $684.8K
NOI $41,085 @ 7.0% cap · market cap 15.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
Explore this area
Business Placement
Demographics for 60076, IL
34,295
Population
11,908
Households
2.9
Avg Household Size
42
Median Age
52%
College-Educated
91%
High-School Grad
5.1 sq mi
ZIP Area
6,725
Density / Sq Mi
$103,870
Median Household Income
$50,336
Median Earnings
$1,576
Median Rent
$381,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Brick-and-concrete office unit with reception, private offices, conference rooms, kitchenette, and two bathrooms.
Where is this office units located?
The property is located at 4448 Oakton Street Skokie, IL.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Approximately 1,700 Sq. ft. office unit; Reception area, conference rooms, and 4 private offices; Kitchenette and 2 bathrooms
