Street-Level Retail Storefront
For Sale
$1,250,000
https //evrealestate.com/en/properties/our-listings/Undisclosed-Address-Chicago-IL-60656-MRED-12308398, Chicago, IL 60656
For-sale storefront retail asset on Chicago’s west side with convenient south-side street access.
Property Size5,000 SF
Days on Market528
Property Features for https //evrealestate.com/en/properties/our-listings/Undisclosed-Address-Chicago-IL-60656-MRED-12308398
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Business Opportunity
Zoning
OTHER
Taxes and HOA fees
Annual Taxes
$29,896
Amenities
Central Air
Building Details
Building Size
5,000 SF
Stories
1
Listing Agency:
(773) 719-7732
Listed By:
Mark Chereso · License #471009791
(773) 719-7732
Source:
Evrealestate
Added: Mar 13, 2025
Changed: Aug 8
Last Checked: Jul 16 at 3:13AM
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 Mark Chereso
Investment Insights
Based on property information with market context.
This for-sale commercial property is a storefront retail asset presented as multiple retail properties and spaces under one offering. The real estate is designed for street-level retail use, offering a straightforward format for businesses that need direct customer access at the storefront.
The property is located at 7035-39 W Higgins Avenue in Chicago, IL, in Cook County. Public directions note it is on Higgins Avenue, two blocks east of Harlem, positioned on the south side of the street.
As a storefront-oriented retail property, it may appeal to buyers seeking Chicago retail space with visibility and direct street presence, as well as tenant operators looking for a retail address along a well-defined commercial corridor. Because specific unit mix, finishes, and current occupancy details are not provided in the information available, buyers and tenants should confirm the exact configuration and condition during due diligence.
The property is located at 7035-39 W Higgins Avenue in Chicago, IL, in Cook County. Public directions note it is on Higgins Avenue, two blocks east of Harlem, positioned on the south side of the street.
As a storefront-oriented retail property, it may appeal to buyers seeking Chicago retail space with visibility and direct street presence, as well as tenant operators looking for a retail address along a well-defined commercial corridor. Because specific unit mix, finishes, and current occupancy details are not provided in the information available, buyers and tenants should confirm the exact configuration and condition during due diligence.
Key Highlights
- Storefront retail asset for sale in Chicago’s west side
- Directions: on Higgins, 2 blocks east of Harlem on the south side of the street
- Central air cooling
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
$69,174
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
5.53%
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%
$1,383,480
$1.4M
Cap Rate 7%
$988,200
$988.2K
Cap Rate 9%
$768,600
$768.6K
Market Conditions
NOI Build-Up for 5,000 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
$108.0K $21.60/SF
− Vacancy
−$9.2K −$1.84/SF
EGI
$98.8K $19.76/SF
− OpEx
−$29.6K −$5.93/SF
NOI
$69.2K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
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%
$1,383,480
Cap Rate 7%
$988,200
Cap Rate 9%
$768,600
Alternative Uses
Best Use
Retail
$988.2K
$864.7K – $1.15M
NOI $69,174 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,024 @ 7.0% cap · market cap 13.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
23k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 63%
Dining 37%
BP
Shops & Services
10,048 visits/mo
0.5 miles
Dunkin' Donuts
Dining
8,330 visits/mo
0.4 miles
BP
Shops & Services
4,234 visits/mo
0.5 miles
Demographics for 60656, IL
28,474
Population
12,840
Households
2.2
Avg Household Size
40
Median Age
42%
College-Educated
92%
High-School Grad
3.2 sq mi
ZIP Area
8,898
Density / Sq Mi
$88,000
Median Household Income
$54,639
Median Earnings
$1,388
Median Rent
$344,400
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - For-sale storefront retail asset on Chicago’s west side with convenient south-side street access.
Where is this storefront property located?
The property is located at https //evrealestate.com/en/properties/our-listings/Undisclosed-Address-Chicago-IL-60656-MRED-12308398 Chicago, IL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Storefront retail asset for sale in Chicago’s west side; Directions: on Higgins, 2 blocks east of Harlem on the south side of the street; Central air cooling
