Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2428 Sycamore Rd Dekalb, IL 60115

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Multi-tenant retail building in a high-traffic location.

    Property size:
    9,324 SF
    Lot size:
    0.49 Acres

    Property Features for 2428 Sycamore Rd

    General Information

    Standard status
    Active
    Size
    9,324 SF
    Lot size
    0.49 Acres

    We can help!

    Listing Contact
    Philip Kates
    Source: Crexi

    Listing Agency: Marcus & Millichap - Fort Lauderdale Listing Agent: Philip Kates

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Building in Northland Plaza

    This multi-tenant retail building is located within the Northland Plaza Shopping Center at 2428 Sycamore Road, DeKalb, Illinois. The property consists of a 9,324 square-foot single-story building on a 1.012-acre parcel. The building contains three retail spaces. Currently, the property is 17% occupied. Heartland Blood Centers occupies 1,569 square feet (16.83% of GLA) and has been a tenant since 2005, with a lease extended through February 29, 2028. The remaining space is currently vacant. The property is located in a retail corridor with customer traffic. Zoned “PD-C” Planned Development - Commercial, the property allows for a mix of retail, service, and commercial uses. DeKalb is a Northern Illinois retail submarket within the greater Chicago MSA, supported by Northern Illinois University (NIU). NIU’s enrollment trends support spending across quick-service, convenience, and daily-needs categories. Retail activity is concentrated along Sycamore Road (IL-23). The property is located in an area that serves 66,690 individuals with an average household income (AHHI) of $76,896 within a 5-mile radius.
    Location Intelligence

    Current Use by Public Records

    Versiti Blood Center ... Charitable Organization

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Dental Office Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dekalb
    County
    DeKalb
    State
    Illinois
    Longitude
    -88.724192
    Latitude
    41.953307

    Nearby Similar for Sale

    • New
      $1,150,000
      1.57 Acres

      Restaurant/Retail Building on 1.57 Acres

      Restaurant/retail building on 1.57 acres near Northern Illinois University.
      131 N Annie Glidden Rd, Dekalb, IL 60115
      View Details
    • $229,000
      1,230 SF

      DeKalb Commercial Building For Sale

      Commercial building in downtown DeKalb, ideal for owner-user or investment.
      129 E Locust St, Dekalb, IL 60115
      View Details
    • $1,100,000
      3.00 Acres

      Fenced Commercial Site with Buildings

      Three-acre fenced site with three buildings, ready for occupancy.
      320 W Lincoln Hwy, Cortland, IL 60112
      View Details
    • $749,900
      Pending

      DeKalb Golf Course Opportunity

      48+ acre site with clubhouse and income-producing units.
      6236 Il. Rte 38 Hwy, Dekalb, IL 60115
      View Details
    • $235,000
      3,644 SF

      Upgraded Office Building For Sale

      Single or multi-tenant office with upgrades and parking.
      711 N 1St St, Dekalb, IL 60115
      View Details
    • $299,900

      DeKalb Triplex Near Downtown

      Three-unit property near downtown DeKalb, fully rented, positive cash flow.
      204 W Locust St, Dekalb, IL 60115
      View Details
    • $225,000
      0.06 Acres

      DeKalb Storefront with Apartment Potential

      Storefront with two apartments in downtown DeKalb, Illinois.
      157 E Lincoln Hwy, Dekalb, IL 60115
      View Details
    • Contact for pricing

      Retail Space Near University Campus

      Retail property near downtown DeKalb and Northern Illinois University.
      1029 Pleasant St, Dekalb, IL 60115
      View Details
    • $319,900
      4,300 SF

      Historic DeKalb Commercial Property

      Nine-bedroom rooming house, prime location.
      325 College Ave, DeKalb, IL 60115
      View Details
    • $510,000
      9,600 SF

      DeKalb Commercial Property: Prime Location

      Vacant Fraternity House - Redevelopment Opportunity
      900 Greenbrier Rd, DeKalb, IL 60115
      View Details
    • $359,000
      26,600 SF

      DeKalb Industrial Space: Prime Location

      Large industrial space, ideal for various uses.
      231 10Th St, DeKalb, IL 60115
      View Details
    • Contact for pricing
      15,242 SF

      Downtown DeKalb Office Building

      15,242 SF office building in downtown DeKalb.
      121 W Lincoln Hwy, Dekalb, IL 60115
      View Details

    FAQs

    What type of property is this?
    Retail space - Multi-tenant retail building in a high-traffic location.
    Where is this retail space located?
    The property is located at 2428 Sycamore Rd Dekalb, IL.
    What are key features of this property?
    This property features: - Strategically positioned within the Northland Plaza Shopping Center in a desirable Greater Chicago retail corridor with high visibility and strong customer traffic.; - Opportunity to acquire a multi-tenant retail building with value-add potential due to current 17% occupancy.; - Long-term tenant (Heartland Blood Centers) in place through February 2028, providing stable income.
    Request Owner's contact information
    2428 Sycamore Rd Dekalb, IL 60115
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2428 Sycamore Rd
    Dekalb, IL 60115
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2428 Sycamore Rd Dekalb, IL 60115
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Philip Kates
    Real Estate License ID: 3235872
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!