Cicero Avenue Retail
For Sale
Contact for pricing
7455 S Cicero Ave, Chicago, IL 60629
Retail space available for sale on Cicero Avenue.
Property Size20,862 SF
Price / SF$161.06
Days on Market574
Property Features for 7455 S Cicero Ave
General Information
Standard status
Active
Size
20,862 SF
Property subtype
Retail
Lease Type
NNN
Net Operating Income
$235,320
Building Details
Year Renovated
2020
Tenancy
Single
Listing Agency:
Friedman Real Estate IL LLC
(773) 213-0296
Listed By:
Kellen Duggan · License #IL 475155060
Source:
Crexi
Added: Jan 23, 2025
Changed: Aug 14
Last Checked: Aug 19 at 6:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Friedman Real Estate IL LLC
Investment Insights
Based on property information with market context.
This commercial property, located on Cicero Avenue, offers a retail space encompassing 20862 square feet. The property is suitable for retail use.
Key Highlights
- Retail space available for sale.
- Located on Cicero Avenue.
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
$288,622
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
8.59%
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%
$5,772,440
$5.8M
Cap Rate 7%
$4,123,171
$4.1M
Cap Rate 9%
$3,206,911
$3.2M
Market Conditions
NOI Build-Up for 20,862 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
$450.6K $21.60/SF
− Vacancy
−$38.3K −$1.84/SF
EGI
$412.3K $19.76/SF
− OpEx
−$123.7K −$5.93/SF
NOI
$288.6K $13.83/SF
Area
ZIP 60629
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%
$5,772,440
Cap Rate 7%
$4,123,171
Cap Rate 9%
$3,206,911
Alternative Uses
Best Use
Retail
$4.12M
$3.61M – $4.81M
NOI $288,622 @ 7.0% cap · market cap 8.59%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$18.71M
$16.38M – $21.83M
NOI $1,310,031 @ 7.0% cap · market cap 38.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
441k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 39%
Superstores 16%
Electronics 14%
Leisure 10%
Costco Wholesale
Superstores
70,318 visits/mo
0.5 miles
Kohl's
Apparel
67,689 visits/mo
0.5 miles
Best Buy
Electronics
60,349 visits/mo
0.4 miles
AMC Ford City 14
Leisure
45,894 visits/mo
0.4 miles
JCPenney
Apparel
45,521 visits/mo
0.2 miles
Demographics for 60629, IL
114,453
Population
36,283
Households
3.2
Avg Household Size
33
Median Age
14%
College-Educated
74%
High-School Grad
7.0 sq mi
ZIP Area
16,350
Density / Sq Mi
$58,813
Median Household Income
$34,635
Median Earnings
$1,106
Median Rent
$236,300
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?
Retail space - Retail space available for sale on Cicero Avenue.
Where is this retail space located?
The property is located at 7455 S Cicero Ave Chicago, IL.
What is the asking price?
The asking price for this property is $3,360,000.
What are key features of this property?
This property features: Retail space available for sale.; Located on Cicero Avenue.
