Two-Building Mixed-Use
New
For Sale
$749,000
14808 Cicero Avenue, Oak Forest, IL 60445
The property combines a multi-tenant office building with a separate retail center.
Property Size4,900 SF
Days on Market4
Property Features for 14808 Cicero Avenue
General Information
Standard status
Active
Size
4,900 SF
Class
B
Property subtype
Office
Occupancy
100%
Additional Details
Mixed-Use Components
office, retail
Tenant in Place
Yes
Property Use
Office
Building Details
Building Size
4,900 SF
Year Built
1984
Year Renovated
2022
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
SPERRY VAN NESS
Listed By:
Derek Gonsch · License #475192105
(708) 267-9988
Source:
Svnchicago
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 24 at 2:58PM
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 SPERRY VAN NESS
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Investment Insights
Based on property information with market context.
This Oak Forest portfolio includes a two-story, Class B office building and a separate retail property with three units. The multi-tenant buildings were fully occupied, and the improvements include updated common-area carpeting, replacement interior doors, and copper piping throughout. Renovation work was completed in 2022; the roof was replaced in 2017, and HVAC systems are approximately four years old.
The properties are located on Cicero Avenue within a TIF district.
The properties are located on Cicero Avenue within a TIF district.
Key Highlights
- Two‑building portfolio with office and retail components
- Three‑unit retail center paired with a multi‑tenant office building
- 100% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,013
Cap Rate
9.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,360,260
$1.4M
Cap Rate 7%
$971,614
$971.6K
Cap Rate 9%
$755,700
$755.7K
Market Conditions
NOI Build-Up for 4,900 SF
Gross rent
$105.8K $21.60/SF
− Vacancy
−$8.7K −$1.77/SF
EGI
$97.2K $19.83/SF
− OpEx
−$29.1K −$5.95/SF
NOI
$68.0K $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 Rate 5%
$1,360,260
Cap Rate 7%
$971,614
Cap Rate 9%
$755,700
Alternative Uses
Best Use
Mixed Use
$1.18M
$1.03M – $1.38M
NOI $82,688 @ 7.0% cap · market cap 11.04%
Second Best
Retail
$971.6K
$850.2K – $1.13M
NOI $68,013 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,422 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Explore this area
Business Placement
Demographics for 60445, IL
14,692
Population
6,228
Households
2.4
Avg Household Size
37
Median Age
19%
College-Educated
88%
High-School Grad
4.3 sq mi
ZIP Area
3,417
Density / Sq Mi
$68,385
Median Household Income
$46,480
Median Earnings
$1,202
Median Rent
$201,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a multi-tenant office building with a separate retail center.
Where is this mixed-use property located?
The property is located at 14808 Cicero Avenue Oak Forest, IL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Two‑building portfolio with office and retail components; Three‑unit retail center paired with a multi‑tenant office building; 100% occupied
