Mixed-Use Neighborhood Shopping
For Sale
Contact for pricing
1559 North Mannheim Road, Stone Park, IL 60165
Fee-simple sale of a fully leased, unanchored center combining retail, client-facing office, and one residential unit.
Property Size17,110 SF
Price / SF$229.11
Days on Market53
Property Features for 1559 North Mannheim Road
General Information
Standard status
Active
Size
17,110 SF
Total Parking Spaces
40
Property subtype
Retail, Mixed Use, Office
Zoning
B-1 General Commercial District
Occupancy
100%
Lease Type
Gross
Net Operating Income
$292,360
Additional Details
Multifamily Units
1
Building Details
Year Built
1960
Year Renovated
2025
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Mid-America Real Estate Corporation
Listed By:
Emily Gadomski · License #475173675
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 9 at 5:37AM
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 Mid-America Real Estate Corporation
Investment Insights
Based on property information with market context.
New Town Plaza is a 100% leased, mixed-use, unanchored neighborhood shopping center offered for sale in 100% fee simple interest. The property’s tenant mix includes convenience, service, and food-oriented retail, along with client-facing office space and one residential unit. The center is designed to support everyday consumer needs and services within a compact retail and workplace setting.
The property is located at 1559 North Mannheim Road in Stone Park, Illinois, described as a dense and established Chicago suburb. As an unanchored center, it operates without a designated anchor tenant, relying instead on the combined draw of its convenience, service, dining, office, and residential components.
For tenants, this configuration provides shared retail and office adjacency within a fully leased environment that already includes both shopping and client-facing uses. For buyers, the offering is structured as a complete ownership interest in a stabilized, occupied mixed-use property with retail, office, and residential income under one roof.
The property is located at 1559 North Mannheim Road in Stone Park, Illinois, described as a dense and established Chicago suburb. As an unanchored center, it operates without a designated anchor tenant, relying instead on the combined draw of its convenience, service, dining, office, and residential components.
For tenants, this configuration provides shared retail and office adjacency within a fully leased environment that already includes both shopping and client-facing uses. For buyers, the offering is structured as a complete ownership interest in a stabilized, occupied mixed-use property with retail, office, and residential income under one roof.
Key Highlights
- 100% fee simple interest for sale: New Town Plaza
- 100% leased mixed‑use unanchored neighborhood shopping center
- Tenant mix includes convenience, service, and food‑oriented retail
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
$237,490
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
6.06%
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%
$4,749,800
$4.7M
Cap Rate 7%
$3,392,714
$3.4M
Cap Rate 9%
$2,638,778
$2.6M
Market Conditions
NOI Build-Up for 17,110 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
$369.6K $21.60/SF
− Vacancy
−$30.3K −$1.77/SF
EGI
$339.3K $19.83/SF
− OpEx
−$101.8K −$5.95/SF
NOI
$237.5K $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%
$4,749,800
Cap Rate 7%
$3,392,714
Cap Rate 9%
$2,638,778
Alternative Uses
Best Use
Retail
$3.39M
$2.97M – $3.96M
NOI $237,490 @ 7.0% cap · market cap 6.06%
Second Best
Office B
$3.37M
$2.95M – $3.93M
NOI $235,919 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$5.91M
$5.17M – $6.89M
NOI $413,511 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
685
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60165, IL
4,576
Population
1,364
Households
3.4
Avg Household Size
33
Median Age
8%
College-Educated
58%
High-School Grad
0.3 sq mi
ZIP Area
15,253
Density / Sq Mi
$75,165
Median Household Income
$34,744
Median Earnings
$1,222
Median Rent
$218,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Fee-simple sale of a fully leased, unanchored center combining retail, client-facing office, and one residential unit.
Where is this shopping center located?
The property is located at 1559 North Mannheim Road Stone Park, IL.
What is the asking price?
The asking price for this property is $3,920,000.
What are key features of this property?
This property features: 100% fee simple interest for sale: New Town Plaza; 100% leased mixed‑use unanchored neighborhood shopping center; Tenant mix includes convenience, service, and food‑oriented retail
