Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    430-438 34Th St Steger, IL 60475

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,550,000

    Five-Store Center, Steady Income, High Occupancy

    Property size:
    11,300 SF

    Property Features for 430-438 34Th St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    11,300 SF

    We can help!

    Listing Contact
    Mark Vaccaro

    Listing Agency: Century 21 Circle Listing Agent: Mark Vaccaro

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional investment opportunity presents a fully occupied, single-story strip center located at 430-438 W 34th Street in Steger, Illinois. Boasting a substantial 11,300 square feet, this property offers a consistent and reliable income stream thanks to its five long-term tenants, many of whom have occupied the space for over 20 years. The diverse tenant mix includes a convenient store, laundromat, barbershop, pub, and carry-out restaurant, catering to the surrounding residential community. The property's convenient location within walking distance of residential areas ensures high foot traffic and accessibility for patrons. The building features a newer roof and benefits from an expansive parking lot, providing ample space for customers. The property is situated on a 0-acre lot. This is a turnkey investment opportunity with a proven track record of success, offering a strong return on investment for the discerning buyer. The current asking price is $1,550,000. This is an excellent addition to any commercial real estate portfolio. Please note that tenants should not be disturbed.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Steger
    County
    Will
    State
    Illinois
    Longitude
    -87.65173
    Latitude
    41.46942

    Nearby Similar for Sale

    • New
      $180,000
      0.14 Acres

      Steger Solid Brick Income Property

      Three-unit residential income property in great location with cash flow.
      39 Mckinley Ave, Steger, IL 60475
      View Details
    • New
      $208,000
      0.25 Acres

      Renovated Duplex in Central Location

      Two renovated 1-bedroom apartments generating $2,000 monthly income.
      3706 Chicago Rd, Steger, IL 60475
      View Details
    • $249,900

      Steger Multifamily Property For Sale

      Two-unit building in Steger, Illinois, with a two-car garage.
      3321 Wallace Ave, Steger, IL 60475
      View Details
    • $875,000
      0.80 Acres

      Steger Auto Dealership and Repair

      Profitable auto business with real estate and equipment included.
      450 W 34Th St, Steger, IL 60475
      View Details
    • $1,499,000
      1.39 Acres

      Steger Retail Strip Center

      Fully occupied strip center with long-term tenants and ample parking.
      430-438 W 34Th St, Steger, IL 60475
      View Details
    • $425,000
      4,150 SF

      Prime Steger Business HQ

      Spacious Office/Warehouse, High Ceilings
      3147 Louis Sherman Dr, Steger, IL 60475
      View Details
    • $249,900
      3,000 SF

      Steger Commercial Building - High Exposure

      Versatile 3,000 sq ft building, high visibility location.
      3334 Chicago Rd, Steger, IL 60475
      View Details
    • $1,250,000
      25,713 SF

      Repair and Outdoor Storage. East Building 7

      500 sf Measures 60 x 125 used a Boat \/ Auto Repair facility CH 15'6\"" 4 DID: 10'W x 12'T 2 DID: 22'W x 14'T 2 DID 10' W x 14'T Additional Building to North of Main Building Needs major renovations and or tear down 2
      3645 Union Ave, Steger, IL 60475
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Five-Store Center, Steady Income, High Occupancy
    Where is this commercial real estate located?
    The property is located at 430-438 34Th St Steger, IL.
    What is the asking price?
    The asking price for this property is $1,550,000.
    (708) 361-0800
    Request Owner's contact information
    430-438 34Th St Steger, IL 60475
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    430-438 34Th St
    Steger, IL 60475
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    430-438 34Th St Steger, IL 60475
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Mark Vaccaro
    (708) 361-0800
    Learn more
    Google sign-in failed. Please try again or use another login method.