York Street Strip
New
For Sale
$2,481,000
1035 S York St, Elmhurst, IL 60126
Six retail suites with established food, personal-care, and salon operators serve a medical-campus-oriented trade area.
Property Size6,400 SF
Price / SF$387.66
Days on Market3
Property Features for 1035 S York St
General Information
Standard status
Active
Size
6,400 SF
Total Parking Spaces
51
Site & Location
Frontage
80 ft
Traffic Count
19,400 vehicles/day
Road Access
Yes
Building Details
Year Built
1988
Tenancy
Multi
Parking Ratio
7.97 per 1,000 SF
Listing Agency:
Brookline Real Estate LLC
(630) 590-5910
Listed By:
Dominick Cannata · License #00000
Source:
Liveliferealty
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 7:34PM
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 Brookline Real Estate LLC
Investment Insights
Based on property information with market context.
This 6,400-square-foot strip mall was built in 1988 and includes six retail suites with a tenant mix spanning quick-service food, sit-down dining, hair care, nail services, and beauty services. Jimmy John's has occupied Unit A since June 2010 and exercised three successive five-year options, most recently in November 2024. Bambu Thai extended its occupancy through August 2031 in a November 2025 amendment.
The property has 80 feet along York Street and records 19,400 VPD. Elmhurst Hospital is approximately 1,000 feet north; the campus encompasses 866,000 square feet, 259 beds, 3,000 employees, and 800 physicians. The fee-simple property provides 51 surface parking spaces, equal to 7.97 spaces per 1,000 square feet.
The property has 80 feet along York Street and records 19,400 VPD. Elmhurst Hospital is approximately 1,000 feet north; the campus encompasses 866,000 square feet, 259 beds, 3,000 employees, and 800 physicians. The fee-simple property provides 51 surface parking spaces, equal to 7.97 spaces per 1,000 square feet.
Key Highlights
- 6,400 SF strip mall with six retail suites
- 80 feet of York Street frontage and 19,400 VPD
- 51 surface parking spaces at 7.97 per 1,000
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
$107,136
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
4.32%
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%
$2,142,720
$2.1M
Cap Rate 7%
$1,530,514
$1.5M
Cap Rate 9%
$1,190,400
$1.2M
Market Conditions
NOI Build-Up for 6,400 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
$153.6K $24.00/SF
− Vacancy
−$10.8K −$1.68/SF
EGI
$142.8K $22.32/SF
− OpEx
−$35.7K −$5.58/SF
NOI
$107.1K $16.74/SF
Area
DuPage County, IL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,142,720
Cap Rate 7%
$1,530,514
Cap Rate 9%
$1,190,400
Alternative Uses
Best Use
Specialty Retail
$1.53M
$1.34M – $1.79M
NOI $107,136 @ 7.0% cap · market cap 4.32%
Second Best
Retail
$1.27M
$1.11M – $1.48M
NOI $88,833 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$2.21M
$1.93M – $2.58M
NOI $154,674 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19,400 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,352
Businesses Nearby
144k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Groceries 35%
Shops & Services 23%
Home Improvements & Furnishings 7%
Jewel-Osco
Groceries
50,303 visits/mo
0.2 miles
McDonald's
Dining
27,131 visits/mo
0.2 miles
Shell
Shops & Services
15,143 visits/mo
0.1 miles
Ebel's Ace Hardware
Home Improvements & Furnishings
9,631 visits/mo
0.1 miles
Burger King
Dining
9,287 visits/mo
0.2 miles
Demographics for 60126, IL
48,147
Population
18,687
Households
2.6
Avg Household Size
41
Median Age
62%
College-Educated
96%
High-School Grad
11.2 sq mi
ZIP Area
4,299
Density / Sq Mi
$143,333
Median Household Income
$76,258
Median Earnings
$1,890
Median Rent
$527,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Six retail suites with established food, personal-care, and salon operators serve a medical-campus-oriented trade area.
Where is this strip mall located?
The property is located at 1035 S York St Elmhurst, IL.
What is the asking price?
The asking price for this property is $2,481,000.
What are key features of this property?
This property features: 6,400 SF strip mall with six retail suites; 80 feet of York Street frontage and 19,400 VPD; 51 surface parking spaces at 7.97 per 1,000
