Neighborhood Retail Strip
For Sale
Contact for pricing
2823 Dundee Rd, Northbrook, IL 60062
Stabilized strip center with 18,782 SF of retail space and parking for 4.42 vehicles per 1,000 SF.
Property Size18,782 SF
Lot Size1.67 Acres
Price / SF$165.05
Days on Market199
Property Features for 2823 Dundee Rd
General Information
Standard status
Active
Size
18,782 SF
Lot size
1.67 Acres
Property subtype
RETAIL
Site & Location
Traffic Count
32,900 vehicles/day
Highway Access
Yes
Building Details
Year Built
1965
Year Renovated
1989
Tenancy
Multi
Listing Agency:
Colliers | Chicago Rosemont
(312) 343-1800
Listed By:
Peter Block · License #471002226
(312) 343-1800
Source:
Moodyscre
Added: Jan 12
Changed: Jul 26
Last Checked: Jul 30 at 10:35AM
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 Colliers | Chicago Rosemont
Investment Insights
Based on property information with market context.
Dunsten Plaza is a stabilized neighborhood retail strip center with 18,782 SF of gross leasable area on a 1.67-acre site. The original building was constructed in 1965 and later expanded and renovated in 1989, creating a diversified mix of retail and service tenants.
The center is located at 2823–2855 Dundee Road in Northbrook, Illinois, and offers high visibility along Dundee Road, which sees approximately 32,900 vehicles per day. It also serves a retail corridor with nearby residential neighborhoods and office parks.
Current tenants include Subway, Rosati’s Pizza, Batteries Plus, L.A. Tan, and specialty service businesses, supporting a stable and diversified income stream.
The center is located at 2823–2855 Dundee Road in Northbrook, Illinois, and offers high visibility along Dundee Road, which sees approximately 32,900 vehicles per day. It also serves a retail corridor with nearby residential neighborhoods and office parks.
Current tenants include Subway, Rosati’s Pizza, Batteries Plus, L.A. Tan, and specialty service businesses, supporting a stable and diversified income stream.
Key Highlights
- Dunsten Plaza is an 18,782 SF stabilized retail strip center on a 1.67‑acre site in Northbrook, IL.
- Parking ratio is 4.42 spaces per 1,000 SF.
- Original building built in 1965; expanded and renovated in 1989.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $214.1k | $11.40 |
| − Vacancy | −$11.8k | −$0.63 |
| EGI | $202.3k | $10.77 |
| − OpEx | −$60.7k | −$3.23 |
| NOI | $141.6k | $7.54 |
18,782 SF · lease $11.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.02M
$1.77M – $2.36M
NOI $141,637 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.75M
$3.28M – $4.38M
NOI $262,638 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
32,900 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,065
Businesses Nearby
879
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Big Apple Bagels
Dining
879 visits/mo
0.5 miles
Demographics for 60062, IL
42,751
Population
17,892
Households
2.4
Avg Household Size
48
Median Age
71%
College-Educated
96%
High-School Grad
18.9 sq mi
ZIP Area
2,262
Density / Sq Mi
$142,759
Median Household Income
$77,188
Median Earnings
$1,921
Median Rent
$625,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Stabilized strip center with 18,782 SF of retail space and parking for 4.42 vehicles per 1,000 SF.
Where is this strip mall located?
The property is located at 2823 Dundee Rd Northbrook, IL.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Dunsten Plaza is an 18,782 SF stabilized retail strip center on a 1.67‑acre site in Northbrook, IL.; Parking ratio is 4.42 spaces per 1,000 SF.; Original building built in 1965; expanded and renovated in 1989.
