18660 Dixie Hwy S, Homewood, IL 60430

Building Details

Year Built 1959 More

Tenancy Multi More

Listing Agency: Core Realty & Investments Inc.

Listed By: Olga Kaminska · License IL #475170254 Show Phone

Source: Grandviewrealtyservices

Added: Nov 8 Changed: Nov 9 Last Checked: Aug 25 at 4:46AM

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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 Core Realty & Investments Inc.

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Investment Insights

Based on property information with market context.

The 14,765-square-foot center has multiple retail suites and is 83.6% occupied. Three suites totaling 2,420 square feet are vacant. Current businesses include an insurance agency, driving school, salons, dry cleaner, automotive service provider, party shop, and style consultant. Service uses requiring in-person customer interaction account for 68.8% of occupied GLA. Existing leases have limited long-term commitments, and tenants do not reimburse operating expenses.

The property fronts Dixie Highway, a commercial corridor with approximately 10,400 vehicles per day. The Homewood Metra Station and Canadian National’s Homewood Campus are nearby. The center is in Homewood, Illinois.

Key Highlights

• 14,765‑square‑foot retail center with 83.6% occupancy
• Three vacant suites totaling 2,420 square feet
• In‑person service businesses make up 68.8% of occupied GLA

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$144,719

Cap Rate

8.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,894,380 $2.9M

Cap Rate 7%

$2,067,414 $2.1M

Cap Rate 9%

$1,607,989 $1.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,289 SF

Gross rent

$225.9K $21.96/SF

− Vacancy

−$19.2K −$1.87/SF

EGI

$206.7K $20.09/SF

− OpEx

−$62.0K −$6.03/SF

NOI

$144.7K $14.07/SF

Area

Cook County, IL

Vacancy

8.50%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,894,380

Cap Rate 7%

$2,067,414

Cap Rate 9%

$1,607,989

Alternative Uses

Best Use

Retail

$2.07M

$1.81M – $2.41M (±1% cap)

NOI $144,719 @ 7.0% cap · market cap 8.56%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.95M

$3.46M – $4.61M (±1% cap)

NOI $276,568 @ 7.0% cap · market cap 16.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Strip malls

Suggested Use

Top Pick Auto Repair Shop Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Furniture & Home Goods Auto Parts Store Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

10,400 VPD

Traffic count

83.6%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

601

Businesses Nearby

3k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 100%

Cold Stone Creamery Dining

3,384 visits/mo 0.1 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

Average Price Trend$/SF for Strip malls in Cook County, IL

$193 Jul

$177 Aug

$175 Sep

$181 Oct

Properties on Market for Strip malls in Cook County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Strip mall - A mix of service businesses, including salons, automotive service, and a dry cleaner, serves customers from the surrounding community.

Where is this strip mall located?

The property is located at 18660 Dixie Hwy S Homewood, IL.

What is the asking price?

The asking price for this property is $1,690,000.

What are key features of this property?

This property features: 14,765‑square‑foot retail center with 83.6% occupancy; Three vacant suites totaling 2,420 square feet; In‑person service businesses make up 68.8% of occupied GLA