Storefront Property with Central
For Sale
$359,000
3925 W Oakton St, Skokie, IL 60076
COMMR-zoned storefront featuring central air and an exhaust fan near Oakton Street and Crawford Avenue.
Property Size1,750 SF
Price / SF$205.14
Days on Market47
Property Features for 3925 W Oakton St
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Business Opportunity
Listing Agency:
Century 21 Circle
Listed By:
Kief Mkrdichian · License #471010623
(773) 443-1919
Source:
Bktchicago
Added: Aug 9
Changed: Sep 20
Last Checked: Sep 22 at 8:08PM
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 Century 21 Circle
Investment Insights
Based on property information with market context.
This storefront property includes central air and an exhaust fan, providing core interior features for commercial occupancy. The property is identified as a storefront asset within the retail property category and carries COMMR zoning.
Located at 3925 W Oakton Street in Skokie, the property sits just east of Crawford Avenue in Cook County.
Located at 3925 W Oakton Street in Skokie, the property sits just east of Crawford Avenue in Cook County.
Key Highlights
- COMMR zoning
- Central air
- Exhaust fan
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
$24,290
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
6.77%
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%
$485,800
$485.8K
Cap Rate 7%
$347,000
$347.0K
Cap Rate 9%
$269,889
$269.9K
Market Conditions
NOI Build-Up for 1,750 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
$37.8K $21.60/SF
− Vacancy
−$3.1K −$1.77/SF
EGI
$34.7K $19.83/SF
− OpEx
−$10.4K −$5.95/SF
NOI
$24.3K $13.88/SF
Area
Cook 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%
$485,800
Cap Rate 7%
$347,000
Cap Rate 9%
$269,889
Alternative Uses
Best Use
Retail
$347.0K
$303.6K – $404.8K
NOI $24,290 @ 7.0% cap · market cap 6.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$604.2K
$528.7K – $704.9K
NOI $42,294 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60076, IL
34,295
Population
11,908
Households
2.9
Avg Household Size
42
Median Age
52%
College-Educated
91%
High-School Grad
5.1 sq mi
ZIP Area
6,725
Density / Sq Mi
$103,870
Median Household Income
$50,336
Median Earnings
$1,576
Median Rent
$381,000
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?
Storefront property - COMMR-zoned storefront featuring central air and an exhaust fan near Oakton Street and Crawford Avenue.
Where is this storefront property located?
The property is located at 3925 W Oakton St Skokie, IL.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: COMMR zoning; Central air; Exhaust fan
