Multi-Tenant Strip Shopping
New
For Sale
$4,880,000
10S620 Kingery Hwy, Willowbrook, IL 60527
Retail property combines long-standing occupants with available leasing area.
Property Size28,572 SF
Price / SF$170.80
Days on Market7
Property Features for 10S620 Kingery Hwy
General Information
Standard status
Active
Size
28,572 SF
Property subtype
Shopping Neighborhood
Site & Location
Corner Location
No
Traffic Count
29,100 vehicles/day
Additional Details
Liquor License
No
Amenities
Value-Add Opportunity | Three Vacant Units Totaling 3,614 Square Feet
Priced Below Replacement Cost at $170.80 Per Square Foot
Situated on 3.49 Acres with 135 Parking Spaces
No Contractual Renewal Options, Provide Flexibility to Repurpose Space and Increase Rents
Weighted Average Tenant Tenure of 9.35 Years
The Center Fills a Significant Retail and Restaurant Void within the Surrounding Area
Average Household Income of $145,686 within Three Miles
Located 1.5 Miles South of Interstate 55 | 145,300 VPD
Building Details
Building Size
28,572 SF
Year Built
1987
Tenancy
Multi
Listing Agency:
Chicago Oak Brook Office
Listed By:
Adrian Mendoza · License #License(s): IL: 475.147980
(630) 570-2163
Source:
Marcusmillichap
Added: Sep 18
Changed: Sep 22
Last Checked: Sep 24 at 6:31AM
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 Chicago Oak Brook Office
Investment Insights
Based on property information with market context.
This multi-tenant shopping center contains 28,572 square feet and was built in 1987. The property includes 3,614 square feet of vacant space, while existing occupants include Five Star Pantry and Distinctive Dental. Reported tenant tenure includes more than 30 years for Five Star Pantry and more than 25 years for Distinctive Dental.
The center is located at 10S620 Kingery Hwy in Willowbrook, Illinois, along Kingery Highway/Route 83, which carries 29,100 VPD. Interstate 55 is 1.5 miles north, with reported traffic of 145,300 VPD. The property is also approximately two miles from Argonne National Laboratory and near an industrial corridor serving Willowbrook and Burr Ridge. Within three miles, the surrounding area includes 33,630 residents and an average household income of $145,686.
The center is located at 10S620 Kingery Hwy in Willowbrook, Illinois, along Kingery Highway/Route 83, which carries 29,100 VPD. Interstate 55 is 1.5 miles north, with reported traffic of 145,300 VPD. The property is also approximately two miles from Argonne National Laboratory and near an industrial corridor serving Willowbrook and Burr Ridge. Within three miles, the surrounding area includes 33,630 residents and an average household income of $145,686.
Key Highlights
- 28,572‑square‑foot shopping center built in 1987
- 3,614 square feet of vacant space available for leasing
- Five Star Pantry has occupied the center for more than 30 years
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
$396,584
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
8.13%
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%
$7,931,680
$7.9M
Cap Rate 7%
$5,665,486
$5.7M
Cap Rate 9%
$4,406,489
$4.4M
Market Conditions
NOI Build-Up for 28,572 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
$617.2K $21.60/SF
− Vacancy
−$50.6K −$1.77/SF
EGI
$566.5K $19.83/SF
− OpEx
−$170.0K −$5.95/SF
NOI
$396.6K $13.88/SF
Area
DuPage County, IL
Vacancy
8.20%
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%
$7,931,680
Cap Rate 7%
$5,665,486
Cap Rate 9%
$4,406,489
Alternative Uses
Best Use
Retail
$5.67M
$4.96M – $6.61M
NOI $396,584 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.86M
$8.63M – $11.51M
NOI $690,523 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
29,100 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
39k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 42%
McDonald's
Dining
22,545 visits/mo
0.1 miles
Speedway
Shops & Services
12,442 visits/mo
0.2 miles
7-Eleven
Shops & Services
4,139 visits/mo
0.1 miles
Demographics for 60527, IL
29,139
Population
13,101
Households
2.2
Avg Household Size
47
Median Age
58%
College-Educated
96%
High-School Grad
14.4 sq mi
ZIP Area
2,024
Density / Sq Mi
$110,482
Median Household Income
$62,257
Median Earnings
$1,553
Median Rent
$488,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail property combines long-standing occupants with available leasing area.
Where is this shopping center located?
The property is located at 10S620 Kingery Hwy Willowbrook, IL.
What is the asking price?
The asking price for this property is $4,880,000.
What are key features of this property?
This property features: 28,572‑square‑foot shopping center built in 1987; 3,614 square feet of vacant space available for leasing; Five Star Pantry has occupied the center for more than 30 years
