Two-Building Storefront
For Sale
Contact for pricing
131 N Main St, Crystal Lake, IL 60014
Downtown Crystal Lake offering with two single-tenant structures across separately assessed parcels.
Property Size8,394 SF
Lot Size0.25 Acres
Price / SF$117.94
Days on Market419
Property Features for 131 N Main St
General Information
Standard status
Active
Size
8,394 SF
Lot size
0.25 Acres
Property subtype
RETAIL
Building Details
Buildings
2
Listing Agency:
Blue Chip Commercial
(815) 355-0196
Listed By:
Tim Billimack · License #471000637
Source:
Moodyscre
Added: Jul 10, 2025
Changed: Aug 30
Last Checked: Aug 31 at 8:10PM
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 Blue Chip Commercial
Investment Insights
Based on property information with market context.
This storefront property comprises two neighboring single-tenant buildings with a combined 8,394 square feet of building area. The improvements sit on approximately 0.25 acres and are configured across two separate parcels, each carrying its own tax bill.
The property is located at 131 N Main St in downtown Crystal Lake, Illinois. Its two-building layout and separate parcel structure provide a straightforward framework for evaluating the asset as a commercial property.
The property is located at 131 N Main St in downtown Crystal Lake, Illinois. Its two-building layout and separate parcel structure provide a straightforward framework for evaluating the asset as a commercial property.
Key Highlights
- Two adjacent single‑tenant buildings
- 8,394 SF of combined building area
- 0.25‑acre property in downtown Crystal Lake
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
$80,998
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
8.18%
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%
$1,619,960
$1.6M
Cap Rate 7%
$1,157,114
$1.2M
Cap Rate 9%
$899,978
$900.0K
Market Conditions
NOI Build-Up for 8,394 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
$125.9K $15.00/SF
− Vacancy
−$10.2K −$1.22/SF
EGI
$115.7K $13.79/SF
− OpEx
−$34.7K −$4.14/SF
NOI
$81.0K $9.65/SF
Area
McHenry County, IL
Vacancy
8.10%
Lease Rate
$15.00 /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%
$1,619,960
Cap Rate 7%
$1,157,114
Cap Rate 9%
$899,978
Alternative Uses
Best Use
Retail
$1.16M
$1.01M – $1.35M
NOI $80,998 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.90M
$2.54M – $3.38M
NOI $202,865 @ 7.0% cap · market cap 20.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
453k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 28%
Apparel 26%
Groceries 25%
Electronics 9%
Jewel-Osco
Groceries
56,908 visits/mo
0.1 miles
T.J. Maxx
Apparel
49,316 visits/mo
0.4 miles
Burlington
Apparel
44,868 visits/mo
0.4 miles
Mariano's
Groceries
40,088 visits/mo
0.4 miles
Best Buy
Electronics
39,522 visits/mo
0.2 miles
Demographics for 60014, IL
48,275
Population
18,135
Households
2.7
Avg Household Size
40
Median Age
42%
College-Educated
94%
High-School Grad
25.1 sq mi
ZIP Area
1,923
Density / Sq Mi
$104,657
Median Household Income
$50,805
Median Earnings
$1,429
Median Rent
$296,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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 - Downtown Crystal Lake offering with two single-tenant structures across separately assessed parcels.
Where is this storefront property located?
The property is located at 131 N Main St Crystal Lake, IL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Two adjacent single‑tenant buildings; 8,394 SF of combined building area; 0.25‑acre property in downtown Crystal Lake
