Building Details

Year Built 1955

Listing Agency: HRE Real Estate Services

Listed By: Ken Houbolt · License #471016227 Show Phone

Source: Grandviewrealtyservices

Added: Aug 23 Changed: Oct 5 Last Checked: Oct 7 at 3:49PM

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Investment Insights

Based on property information with market context.

Built in 1955, the property combines a 1,500-square-foot dental office with a separate 1,500-square-foot storage building for 3,000 square feet overall. The office layout includes 3 operatories, 2 labs, 1 private office, and a staff room. The storage building does not have heat and is occupied by a month-to-month renter.

A large yard provides space for storage or parking, while additional structures may be considered with proper permitting. The property is located at 10346 S Kedzie Avenue in Chicago, Illinois, with an existing configuration that includes both medical-office and storage improvements.

Key Highlights

• 3,000‑square‑foot property combining a 1,500‑square‑foot dental office and 1,500‑square‑foot storage building
• Dental office includes 3 operatories, 2 labs, 1 private office, and a staff room
• Separate storage building is unheated and has a month‑to‑month renter

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,724

Cap Rate

6.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$454,480 $454.5K

Cap Rate 7%

$324,629 $324.6K

Cap Rate 9%

$252,489 $252.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,000 SF

Gross rent

$28.3K $9.43/SF

− Vacancy

−$1.6K −$0.52/SF

EGI

$26.7K $8.91/SF

− OpEx

−$4.0K −$1.34/SF

NOI

$22.7K $7.57/SF

Area

Chicago, IL

Vacancy

5.50%

Lease Rate

$9.43 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$454,480

Cap Rate 7%

$324,629

Cap Rate 9%

$252,489

Alternative Uses

Best Use

Office B

$919.5K

$804.6K – $1.07M (±1% cap)

NOI $64,368 @ 7.0% cap · market cap 17.40%

Second Best

Healthcare Medical

$567.8K

$496.8K – $662.4K (±1% cap)

NOI $39,744 @ 7.0% cap · market cap 10.74%

Theoretical Best

Office A

$1.41M

$1.24M – $1.65M (±1% cap)

NOI $99,014 @ 7.0% cap · market cap 26.77%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Medical Office Space

Suggested Use

Top Pick Law Firm Daycare Center Hair Salon Big Box & Wholesale Store Spa & Massage Center Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

375

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 60655, IL

27,837

Population

11,277

Households

2.5

Avg Household Size

39

Median Age

47%

College-Educated

97%

High-School Grad

4.4 sq mi

ZIP Area

6,327

Density / Sq Mi

$114,443

Median Household Income

$72,169

Median Earnings

$1,468

Median Rent

$303,300

Median Home Value

Market

Vacancy Rate% for Office in Chicago, IL

17.9% 2019

19.2% 2020

20.7% 2021

23.1% 2022

23.3% 2023

25.1% 2024

25.6% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Dental office layout, separate storage space, and a sizable yard support multiple practical property uses subject to permitting.

Where is this medical office space located?

The property is located at 10346 S Kedzie Ave Chicago, IL.

What is the asking price?

The asking price for this property is $369,900.

What are key features of this property?

This property features: 3,000‑square‑foot property combining a 1,500‑square‑foot dental office and 1,500‑square‑foot storage building; Dental office includes 3 operatories, 2 labs, 1 private office, and a staff room; Separate storage building is unheated and has a month‑to‑month renter