Two-Story Mixed-Use
New
For Sale
$650,000
10550 W Cermak Rd, Westchester, IL 60154
Separate entrances and utilities support distinct office and residential operations.
Property Size2,998 SF
Price / SF$216.81
Days on Market3
Property Features for 10550 W Cermak Rd
General Information
Standard status
Active
Size
2,998 SF
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Sprinkler System
Yes
Amenities
fireplace
bar
on-site parking
Building Details
Year Built
1965
Buildings
1
Stories
2
Listing Agency:
RE/MAX Properties Northwest
Listed By:
Brian Leahy
(847) 980-0359
Source:
Amyboston.realtopiare
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 11 at 3:44PM
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 RE/MAX Properties Northwest
Investment Insights
Based on property information with market context.
This two-story mixed-use property combines professional office space on the first level with a residential apartment above. The building is fully sprinklered and includes on-site parking. The office floor has previously served dental and property management uses and can accommodate medical, legal, accounting, dental, or other professional office functions.
The second floor contains a 2-bedroom, 2-bath apartment remodeled in 2018. Improvements include an updated kitchen, bathrooms, windows, and flooring, along with a fireplace and bar. Separate entrances and utilities serve the office and apartment, creating distinct spaces within the same building. The property also offers access to O'Hare Airport, downtown Chicago, and major interstate highways.
The second floor contains a 2-bedroom, 2-bath apartment remodeled in 2018. Improvements include an updated kitchen, bathrooms, windows, and flooring, along with a fireplace and bar. Separate entrances and utilities serve the office and apartment, creating distinct spaces within the same building. The property also offers access to O'Hare Airport, downtown Chicago, and major interstate highways.
Key Highlights
- 2,998 mixed‑use property with office and residential components
- Fully sprinklered, two‑story building with on‑site parking
- First‑floor professional office space with prior dental and property management uses
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
$39,502
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
6.08%
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%
$790,040
$790.0K
Cap Rate 7%
$564,314
$564.3K
Cap Rate 9%
$438,911
$438.9K
Market Conditions
NOI Build-Up for 2,998 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
$65.8K $21.96/SF
− Vacancy
−$13.2K −$4.39/SF
EGI
$52.7K $17.57/SF
− OpEx
−$13.2K −$4.39/SF
NOI
$39.5K $13.18/SF
Area
Springfield, IL
Vacancy
20.00%
Lease Rate
$21.96 /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%
$790,040
Cap Rate 7%
$564,314
Cap Rate 9%
$438,911
Alternative Uses
Best Use
Office B
$564.3K
$493.8K – $658.4K
NOI $39,502 @ 7.0% cap · market cap 6.08%
Second Best
Healthcare Medical
$487.5K
$426.6K – $568.8K
NOI $34,127 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$736.1K
$644.1K – $858.8K
NOI $51,525 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Sprinkler system
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
Explore this area
Business Placement
Demographics for 60154, IL
16,895
Population
7,376
Households
2.3
Avg Household Size
48
Median Age
46%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
3,840
Density / Sq Mi
$103,561
Median Household Income
$60,967
Median Earnings
$1,767
Median Rent
$297,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate entrances and utilities support distinct office and residential operations.
Where is this mixed-use property located?
The property is located at 10550 W Cermak Rd Westchester, IL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,998 mixed‑use property with office and residential components; Fully sprinklered, two‑story building with on‑site parking; First‑floor professional office space with prior dental and property management uses
