Streetfront Retail
For Sale
$198,000
18159 Dixie Highway, Homewood, IL 60430
Condo layout includes reception, offices, and a conference room.
Property Size1,250 SF
Price / SF$158.40
Days on Market9
Property Features for 18159 Dixie Highway
General Information
Standard status
Active
Size
1,250 SF
Property subtype
Retail
Site & Location
Road Access
Yes
Public Transit
Yes
Amenities
lobby
conference room
Building Details
Building Size
1,250 SF
Year Built
1952
Tenancy
Single
Listing Agency:
(630) 330-3352
Listed By:
Karen Kulczycki, CCIM, SIOR · License #IL #471020279
(630) 330-3352
Source:
Svn
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 9 at 5:49AM
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 Karen Kulczycki, CCIM, SIOR
Investment Insights
Based on property information with market context.
This ±1,250 SF retail condo offers a flexible commercial layout with picture-window exposure along Dixie Highway. Interior improvements include a lobby and reception area, private offices, a conference room, restroom, and on-site parking. The property was built in 1952 and can accommodate retail or office use.
The condo is located at 18159 Dixie Highway in Homewood, Illinois, within walking distance of the Metra station and Martin Square. Its position along the highway provides direct street presence, while the existing office-oriented layout supports a range of customer-facing or professional business configurations.
The condo is located at 18159 Dixie Highway in Homewood, Illinois, within walking distance of the Metra station and Martin Square. Its position along the highway provides direct street presence, while the existing office-oriented layout supports a range of customer-facing or professional business configurations.
Key Highlights
- ±1,250 SF retail or office condo
- Picture‑window frontage along Dixie Highway
- Lobby and reception area with private offices
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
$17,350
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
8.76%
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%
$347,000
$347.0K
Cap Rate 7%
$247,857
$247.9K
Cap Rate 9%
$192,778
$192.8K
Market Conditions
NOI Build-Up for 1,250 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
$27.0K $21.60/SF
− Vacancy
−$2.2K −$1.77/SF
EGI
$24.8K $19.83/SF
− OpEx
−$7.4K −$5.95/SF
NOI
$17.4K $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%
$347,000
Cap Rate 7%
$247,857
Cap Rate 9%
$192,778
Alternative Uses
Best Use
Retail
$247.9K
$216.9K – $289.2K
NOI $17,350 @ 7.0% cap · market cap 8.76%
Second Best
Office B
$246.2K
$215.4K – $287.3K
NOI $17,235 @ 7.0% cap · market cap 8.70%
Theoretical Best
Office A
$431.6K
$377.6K – $503.5K
NOI $30,210 @ 7.0% cap · market cap 15.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,107
Businesses Nearby
Explore this area
Business Placement
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Condo layout includes reception, offices, and a conference room.
Where is this retail space located?
The property is located at 18159 Dixie Highway Homewood, IL.
What is the asking price?
The asking price for this property is $198,000.
What are key features of this property?
This property features: ±1,250 SF retail or office condo; Picture‑window frontage along Dixie Highway; Lobby and reception area with private offices
