Single-Tenant Retail Store Net
For Sale
Contact for pricing
17910 Halsted Street, Homewood, IL 60430
Fee simple retail investment offered as a net lease with landlord responsibilities limited under NNN terms.
Property Size22,000 SF
Price / SF$164.68
Days on Market55
Property Features for 17910 Halsted Street
General Information
Standard status
Active
Size
22,000 SF
Class
A
Property subtype
Retail
Zoning
B-4 PUD: Shopping Center District - Planned Unit Development
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$262,680
Building Details
Year Built
2005
Tenancy
Single
Listing Agency:
CBRE - Oak Brook
Listed By:
Keegan Barrett · License #475190002
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 9 at 3:23PM
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 CBRE - Oak Brook
Investment Insights
Based on property information with market context.
This offering presents the fee simple interest in a 22,000-square-foot Ross Dress for Less retail store within Washington Park Plaza. The property is leased to Ross Stores, Inc. under a net (NN) structure with landlord responsibility limited under NNN terms. The asset provides a single-tenant retail configuration built for an off-price apparel business model.
Located at 17910 Halsted Street in Homewood, IL, the store is situated within Washington Park Plaza, which the remarks state attracts approximately 2.9 million annual visitors. The center’s tenant mix includes nearby national retailers listed in the offering materials: Best Buy, Ross, Five Below, Petco, and Old Navy.
For investors and tenant-oriented operators seeking a stabilized retail platform, the lease is supported by Ross Stores, Inc., identified in the materials as having an A-/Stable S&P credit rating. Ross Stores operates two discount clothing chains and sells mostly closeout merchandise across men’s, women’s, and children’s apparel, along with select accessories and small furnishings. This combination of a single-tenant net lease structure and an investment-grade corporate tenant can align with buyers looking for an institutional-style retail holding with limited landlord obligations.
Located at 17910 Halsted Street in Homewood, IL, the store is situated within Washington Park Plaza, which the remarks state attracts approximately 2.9 million annual visitors. The center’s tenant mix includes nearby national retailers listed in the offering materials: Best Buy, Ross, Five Below, Petco, and Old Navy.
For investors and tenant-oriented operators seeking a stabilized retail platform, the lease is supported by Ross Stores, Inc., identified in the materials as having an A-/Stable S&P credit rating. Ross Stores operates two discount clothing chains and sells mostly closeout merchandise across men’s, women’s, and children’s apparel, along with select accessories and small furnishings. This combination of a single-tenant net lease structure and an investment-grade corporate tenant can align with buyers looking for an institutional-style retail holding with limited landlord obligations.
Key Highlights
- Fee simple interest in a 22,000 SF Ross Dress for Less retail property in Washington Park Plaza (Homewood, IL).
- Single tenant: Ross Stores, Inc. (investment grade tenant), with an A-/Stable S&P credit rating.
- Net lease structure with landlord responsibility limited under NNN terms.
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
$305,364
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
8.43%
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%
$6,107,280
$6.1M
Cap Rate 7%
$4,362,343
$4.4M
Cap Rate 9%
$3,392,933
$3.4M
Market Conditions
NOI Build-Up for 22,000 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
$475.2K $21.60/SF
− Vacancy
−$39.0K −$1.77/SF
EGI
$436.2K $19.83/SF
− OpEx
−$130.9K −$5.95/SF
NOI
$305.4K $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%
$6,107,280
Cap Rate 7%
$4,362,343
Cap Rate 9%
$3,392,933
Alternative Uses
Best Use
Retail
$4.36M
$3.82M – $5.09M
NOI $305,364 @ 7.0% cap · market cap 8.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.60M
$6.65M – $8.86M
NOI $531,692 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
104k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 37%
Shops & Services 34%
Apparel 21%
Dining 8%
The Home Depot
Home Improvements & Furnishings
33,757 visits/mo
0.3 miles
Delta Sonic Car Wash
Shops & Services
32,282 visits/mo
0.4 miles
Burlington
Apparel
21,525 visits/mo
0.3 miles
Harold's Chicken Shack
Dining
8,121 visits/mo
0.3 miles
The Roomplace
Home Improvements & Furnishings
4,496 visits/mo
0.4 miles
Demographics for 60430, IL
20,146
Population
7,662
Households
2.6
Avg Household Size
42
Median Age
46%
College-Educated
96%
High-School Grad
6.9 sq mi
ZIP Area
2,920
Density / Sq Mi
$91,402
Median Household Income
$48,509
Median Earnings
$1,419
Median Rent
$209,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Fee simple retail investment offered as a net lease with landlord responsibilities limited under NNN terms.
Where is this storefront property located?
The property is located at 17910 Halsted Street Homewood, IL.
What is the asking price?
The asking price for this property is $3,623,000.
What are key features of this property?
This property features: Fee simple interest in a 22,000 SF Ross Dress for Less retail property in Washington Park Plaza (Homewood, IL).; Single tenant: Ross Stores, Inc. (investment grade tenant), with an A-/Stable S&P credit rating.; Net lease structure with landlord responsibility limited under NNN terms.
