Corner Retail Building with
For Sale
$1,425,000
200 35th Street, Chicago, IL 60616
Fully leased corner retail building with three main-level storefronts, a second-floor tenant, and secure private parking.
Property Size7,990 SF
Price / SF$178.35
Days on Market253
Property Features for 200 35th Street
General Information
Standard status
Active
Size
7,990 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$73,803
Amenities
Central Air, A/C - Zone
3
Building Details
Year Built
1978
Listing Agency:
American Star Realty
(847) 375-9293
Listed By:
Pradeep Shukla · License #471.000633
Source:
Xome
Added: Dec 9, 2025
Changed: Aug 12
Last Checked: Aug 19 at 5:26AM
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 American Star Realty
Investment Insights
Based on property information with market context.
Well-maintained corner mixed-use retail building offers brick construction and a configuration that includes three retail storefronts on the main level plus a commercial tenant on the second floor. The building is currently described as having approximately 7,600 SF leased, supporting a diversified, multi-tenant setup.
Located at the Bridgeport-Bronzeville gateway, the property is positioned for strong street exposure and convenient front parking, along with a secure, iron-gated private parking area.
All inquiries are directed through the listing broker, and tenants should not be disturbed.
Located at the Bridgeport-Bronzeville gateway, the property is positioned for strong street exposure and convenient front parking, along with a secure, iron-gated private parking area.
All inquiries are directed through the listing broker, and tenants should not be disturbed.
Key Highlights
- Fully leased 7,990 SF mixed‑use corner retail building with three retail storefronts on the main level and one second‑floor commercial tenant
- Approximately 7,600 SF currently leased; investment structure includes diversified retail and second‑floor tenancy
- Brick construction with central air and A/C zoning; cooling is provided via Central Air, A/C - Zone
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
$110,540
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
7.76%
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%
$2,210,800
$2.2M
Cap Rate 7%
$1,579,143
$1.6M
Cap Rate 9%
$1,228,222
$1.2M
Market Conditions
NOI Build-Up for 7,990 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
$172.6K $21.60/SF
− Vacancy
−$14.7K −$1.84/SF
EGI
$157.9K $19.76/SF
− OpEx
−$47.4K −$5.93/SF
NOI
$110.5K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
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%
$2,210,800
Cap Rate 7%
$1,579,143
Cap Rate 9%
$1,228,222
Alternative Uses
Best Use
Retail
$1.58M
$1.38M – $1.84M
NOI $110,540 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.77M
$3.30M – $4.40M
NOI $263,708 @ 7.0% cap · market cap 18.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,412
Businesses Nearby
247k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Groceries 40%
Shops & Services 12%
Apparel 3%
Mariano's
Groceries
57,390 visits/mo
0.5 miles
Jewel-Osco
Groceries
42,423 visits/mo
0.3 miles
McDonald's
Dining
26,583 visits/mo
0.1 miles
Culver's
Dining
22,662 visits/mo
0.3 miles
White Castle
Dining
19,452 visits/mo
0.2 miles
Demographics for 60616, IL
54,013
Population
26,912
Households
2
Avg Household Size
38
Median Age
53%
College-Educated
86%
High-School Grad
3.8 sq mi
ZIP Area
14,214
Density / Sq Mi
$77,841
Median Household Income
$53,415
Median Earnings
$1,329
Median Rent
$387,300
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Fully leased corner retail building with three main-level storefronts, a second-floor tenant, and secure private parking.
Where is this storefront property located?
The property is located at 200 35th Street Chicago, IL.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Fully leased 7,990 SF mixed‑use corner retail building with three retail storefronts on the main level and one second‑floor commercial tenant; Approximately 7,600 SF currently leased; investment structure includes diversified retail and second‑floor tenancy; Brick construction with central air and A/C zoning; cooling is provided via Central Air, A/C - Zone
