Single-Story Office
For Sale
$8,550,000
8930 Gross Point Rd, Skokie, IL 60077
Medical tenants account for about half of the property’s tenant mix.
Property Size50,141 SF
Price / SF$170.52
Days on Market8
Property Features for 8930 Gross Point Rd
General Information
Standard status
Active
Size
50,141 SF
Property subtype
Office Medical
Occupancy
94%
Additional Details
Cap Rate
9.32%
Amenities
DaVita Dialysis has Been a Tenant in the Building Since 2007
94.2 Percent Occupied, 51.1 Percent of Which are Medical or Medical-Related Tenants
In-Place 9.32 Percent CAP Rate with a Year One Cash-on-Cash Return of 11.04 Percent
Building Details
Building Size
50,141 SF
Year Built
1980
Stories
1
Tenancy
Multi
Listed By:
Josh Velick · License #License(s): IL: 475207778
(312) 624-7055
Source:
Marcusmillichap
Added: Sep 28
Last Checked: Oct 4 at 6:22AM
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 Josh Velick
Investment Insights
Based on property information with market context.
This 50,141-square-foot, single-story office building in Skokie was constructed in 1980. Medical tenants represent 51.1% of the property, and overall occupancy is 94.2%. The reported in-place cap rate is 9.32%, with a year-one cash-on-cash return of 11.04%.
The property is located at 8930–8950 Gross Point Road in Skokie, Illinois.
The property is located at 8930–8950 Gross Point Road in Skokie, Illinois.
Key Highlights
- 50,141‑square‑foot office building
- Single‑story configuration; built in 1980
- 94.2% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$691,362
Cap Rate
8.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,827,240
$13.8M
Cap Rate 7%
$9,876,600
$9.9M
Cap Rate 9%
$7,681,800
$7.7M
Market Conditions
NOI Build-Up for 50,141 SF
Gross rent
$1.23M $24.48/SF
− Vacancy
−$305.6K −$6.10/SF
EGI
$921.8K $18.38/SF
− OpEx
−$230.5K −$4.60/SF
NOI
$691.4K $13.79/SF
Area
Cook County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,827,240
Cap Rate 7%
$9,876,600
Cap Rate 9%
$7,681,800
Alternative Uses
Best Use
Office B
$9.88M
$8.64M – $11.52M
NOI $691,362 @ 7.0% cap · market cap 8.09%
Second Best
Healthcare Medical
$9.49M
$8.30M – $11.07M
NOI $664,268 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$17.31M
$15.15M – $20.20M
NOI $1,211,798 @ 7.0% cap · market cap 14.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,192
Businesses Nearby
Explore this area
Business Placement
Demographics for 60077, IL
28,856
Population
11,317
Households
2.5
Avg Household Size
43
Median Age
46%
College-Educated
92%
High-School Grad
4.2 sq mi
ZIP Area
6,870
Density / Sq Mi
$80,765
Median Household Income
$40,996
Median Earnings
$1,450
Median Rent
$327,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Medical tenants account for about half of the property’s tenant mix.
Where is this office building located?
The property is located at 8930 Gross Point Rd Skokie, IL.
What is the asking price?
The asking price for this property is $8,550,000.
What are key features of this property?
This property features: 50,141‑square‑foot office building; Single‑story configuration; built in 1980; 94.2% occupied
