Neighborhood Retail Strip
For Sale
$2,500,000
265 W Peace Rd, Sycamore, IL 60178
Fee simple neighborhood strip center is 100% occupied and anchored by convenience-oriented retail tenants.
Property Size16,085 SF
Price / SF$155.42
Days on Market95
Property Features for 265 W Peace Rd
General Information
Standard status
Active
Size
16,085 SF
Property subtype
Shopping Strip
Occupancy
100%
Additional Details
Cap Rate
8%
Amenities
100 Percent Occupied Neighborhood Strip Center Offered at an Eight Percent Cap Rate, Positioned at a Signalized Intersection, Across the Street from the Jewel Grocery Store in Sycamore, Illinois
Average Rents are Quite Low Approximately $15 Gross, with a Wide Range in what Tenants are Currently Paying – Indicating Significant Upside can be Achieved by Marking Rents to Market
Built in 2008, the Property is Currently Undergoing a Significant Renovation Project to Update the Roof
Most of the Tenant Leases Feature Fixed Annual Increases Ranging from Two to Four Percent Annually
The Liquor Store Tenant Positioned on the Endcap is Paying Below $12 per Square Foot in Gross Rent
Notably Low Acquisition Basis of $155 per Square Foot
Abundant New Construction of Single-Family homes in Sycamore as Housing Costs in Inner and Outer Ring Chicago Suburbs have Grown Prohibitively Expensive
High Annual Household Incomes of $116,000 Within a Three-Mile Radius
Building Details
Building Size
16,085 SF
Year Built
2008
Listing Agency:
Marcus & Millichap - Chicago Downtown
Listed By:
Mitchell Kiven · License #License(s): IL: 475.164486
(312) 624-7006
Source:
Marcusmillichap
Added: Jul 19
Changed: Oct 13
Last Checked: Oct 20 at 5:18PM
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 Marcus & Millichap - Chicago Downtown
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Investment Insights
Based on property information with market context.
This neighborhood retail strip center is offered as a fee simple interest and is 100% occupied. The property features a retail mix designed around convenience-based businesses, with an average suite size of approximately 2,000 square feet.
The center is positioned at a signalized intersection and is located directly across the street from Sycamore’s primary grocery store, supporting strong day-to-day retail draw.
The offering provides a single-owner retail asset configured as a neighborhood strip center with multiple suites and stable occupancy.
The center is positioned at a signalized intersection and is located directly across the street from Sycamore’s primary grocery store, supporting strong day-to-day retail draw.
The offering provides a single-owner retail asset configured as a neighborhood strip center with multiple suites and stable occupancy.
Key Highlights
- Fee simple interest in a 100% occupied neighborhood strip center in Sycamore, IL
- Built in 2008
- Average suite size of 2,000 SF with convenience‑oriented retail tenant mix
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$223,262
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,465,240
$4.5M
Cap Rate 7%
$3,189,457
$3.2M
Cap Rate 9%
$2,480,689
$2.5M
Market Conditions
NOI Build-Up for 16,085 SF
Gross rent
$347.4K $21.60/SF
− Vacancy
−$28.5K −$1.77/SF
EGI
$318.9K $19.83/SF
− OpEx
−$95.7K −$5.95/SF
NOI
$223.3K $13.88/SF
Area
DeKalb 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 Rate 5%
$4,465,240
Cap Rate 7%
$3,189,457
Cap Rate 9%
$2,480,689
Alternative Uses
Best Use
Retail
$3.19M
$2.79M – $3.72M
NOI $223,262 @ 7.0% cap · market cap 8.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.55M
$4.86M – $6.48M
NOI $388,739 @ 7.0% cap · market cap 15.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
49k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 57%
Shops & Services 43%
Jewel-Osco
Groceries
27,698 visits/mo
0.2 miles
Sycamore
Shops & Services
20,813 visits/mo
0.2 miles
Demographics for 60178, IL
22,386
Population
9,151
Households
2.4
Avg Household Size
39
Median Age
44%
College-Educated
96%
High-School Grad
67.2 sq mi
ZIP Area
333
Density / Sq Mi
$88,314
Median Household Income
$47,157
Median Earnings
$1,084
Median Rent
$262,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Strip mall - Fee simple neighborhood strip center is 100% occupied and anchored by convenience-oriented retail tenants.
Where is this strip mall located?
The property is located at 265 W Peace Rd Sycamore, IL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Fee simple interest in a 100% occupied neighborhood strip center in Sycamore, IL; Built in 2008; Average suite size of 2,000 SF with convenience‑oriented retail tenant mix
