Kedzie Plaza Retail
For Sale
Contact for pricing
4756 S Kedzie Ave, Chicago, IL
Established shopping center with value-add potential in dense Chicago location.
Property Size53,400 SF
Lot Size3.65 Acres
Price / SF$205.99
Days on Market1534
Property Features for 4756 S Kedzie Ave
General Information
Standard status
Active
Size
53,400 SF
Lot size
3.65 Acres
Property subtype
RETAIL
Listing Agency:
Mid-America Real Estate Group | Chicago
(630) 954-7339
Listed By:
Rick Drogosz · License #471008167
Source:
Moodyscre
Added: May 25, 2022
Changed: Jul 10
Last Checked: Aug 5 at 5:05AM
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 Mid-America Real Estate Group | Chicago
Investment Insights
Based on property information with market context.
Kedzie Plaza, constructed in 1986, features 53,400 square feet of retail space on approximately 3.35 acres. The property is an "L" shape strip center with two freestanding outlot buildings, one separately owned. The center is shadow-anchored by Pete’s Fresh Market and O’Reilly Auto Parts. Located at the southwest corner of Kedzie Avenue and 47th Street, just south of Pete’s Fresh Market, the center also benefits from its location north of Steeple Center, which features TJ Maxx, ALDI, and Family Dollar. The location provides roadside visibility on Kedzie Avenue (22,800 VPD) and convenient access to Downtown Chicago, seven miles to the northeast. Access is provided by two curb cuts on 47th Place and one on Kedzie Avenue. The shopping center is located just north of the CTA “L” Orange Line Kedzie station (3,357 riders per weekday) and the Kedzie Avenue & 47th Street bus station (12,000 riders per weekday), and 1.5 miles south of Interstate 55 (137,200 VPD). The property is located in the Brighton Park and Gage Park communities of Chicago, within a three-mile radius containing a population of over 350,000. The area is 2.5 miles from Midway International Airport. The center features a tenant line-up oriented toward medical retail tenants including Octapharma and Access Community Health, making up 46% of the GLA. A buyer can increase the gross income by leasing the remaining 2,520 square feet of vacancy. Nearly 68% of the tenancy based on GLA has been at the shopping center for over 20 years.
Key Highlights
- Grocery shadow‑anchored by Pete’s Fresh Market, drawing power from over 1.4 million annual visits.
- Stable tenancy with nearly 68% of tenants at the center for over 20 years, offering consistent future yields.
- Dense infill demographics with a population of over 350,000 within a three‑mile radius.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.41M | $26.40 |
| − Vacancy | −$84.6k | −$1.58 |
| EGI | $1.33M | $24.82 |
| − OpEx | −$331.3k | −$6.20 |
| NOI | $993.9k | $18.61 |
53,400 SF · lease $26.40/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$14.20M
$12.42M – $16.56M
NOI $993,881 @ 7.0% cap · market cap 9.04%
Second Best
Retail
$10.55M
$9.23M – $12.31M
NOI $738,778 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$25.18M
$22.03M – $29.37M
NOI $1,762,456 @ 7.0% cap · market cap 16.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
908
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Established shopping center with value-add potential in dense Chicago location.
Where is this strip mall located?
The property is located at 4756 S Kedzie Ave Chicago, IL.
What is the asking price?
The asking price for this property is $11,000,000.
What are key features of this property?
This property features: Grocery shadow‑anchored by Pete’s Fresh Market, drawing power from over 1.4 million annual visits.; Stable tenancy with nearly 68% of tenants at the center for over 20 years, offering consistent future yields.; Dense infill demographics with a population of over 350,000 within a three‑mile radius.
