Vacant Retail
For Sale
$899,000
4848 N Sheridan Rd, Chicago, IL 60640
Open commercial layout accommodates retail, medical, fitness, and service-oriented uses.
Property Size5,257 SF
Price / SF$171.01
Days on Market40
Property Features for 4848 N Sheridan Rd
General Information
Standard status
Active
Size
5,257 SF
Building Details
Year Built
1970
Listing Agency:
Kawash Group
(630) 337-9126
Listed By:
Nader Kawash, Nedal Kawash · License #471022064
Source:
Amyboston.realtopiare
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 29 at 11:44AM
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 Kawash Group
Investment Insights
Based on property information with market context.
This vacant retail property contains 5,257 square feet and offers a flexible interior arrangement for a range of commercial applications. The space can support retail, medical, fitness, or service uses, making it suitable for an owner-user or an investment strategy. The building was constructed in 1970.
Positioned on N Sheridan Rd in Chicago, the property benefits from reported foot and vehicle traffic. Its established retail format and adaptable layout provide a practical foundation for occupancy by businesses requiring customer access and a configurable commercial environment.
Positioned on N Sheridan Rd in Chicago, the property benefits from reported foot and vehicle traffic. Its established retail format and adaptable layout provide a practical foundation for occupancy by businesses requiring customer access and a configurable commercial environment.
Key Highlights
- 5,257 SF of retail space
- Flexible layout for retail, medical, fitness, or service uses
- Vacant possession available
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
$72,730
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
8.09%
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%
$1,454,600
$1.5M
Cap Rate 7%
$1,039,000
$1.0M
Cap Rate 9%
$808,111
$808.1K
Market Conditions
NOI Build-Up for 5,257 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
$113.6K $21.60/SF
− Vacancy
−$9.7K −$1.84/SF
EGI
$103.9K $19.76/SF
− OpEx
−$31.2K −$5.93/SF
NOI
$72.7K $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%
$1,454,600
Cap Rate 7%
$1,039,000
Cap Rate 9%
$808,111
Alternative Uses
Best Use
Retail
$1.04M
$909.1K – $1.21M
NOI $72,730 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.48M
$2.17M – $2.89M
NOI $173,506 @ 7.0% cap · market cap 19.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,539
Businesses Nearby
255k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 34%
Dining 34%
Groceries 28%
Home Improvements & Furnishings 4%
Mariano's
Groceries
38,415 visits/mo
0.5 miles
Aldi
Groceries
32,487 visits/mo
0.5 miles
McDonald's
Dining
30,355 visits/mo
0.3 miles
McDonald's
Dining
27,614 visits/mo
0.4 miles
Dollar Tree
Shops & Services
18,696 visits/mo
0.5 miles
Demographics for 60640, IL
65,941
Population
40,850
Households
1.6
Avg Household Size
38
Median Age
63%
College-Educated
92%
High-School Grad
2.4 sq mi
ZIP Area
27,475
Density / Sq Mi
$71,030
Median Household Income
$59,264
Median Earnings
$1,374
Median Rent
$363,300
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Open commercial layout accommodates retail, medical, fitness, and service-oriented uses.
Where is this retail space located?
The property is located at 4848 N Sheridan Rd Chicago, IL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 5,257 SF of retail space; Flexible layout for retail, medical, fitness, or service uses; Vacant possession available
