Markham Shopping Center For
For Sale
$1,050,000
3200 W 159th St, Markham, IL 60428
5,066 SF shopping center on heavily-trafficked Kedzie Avenue.
Property Size5,066 SF
Price / SF$207.26
Days on Market213
Property Features for 3200 W 159th St
General Information
Standard status
Active
Size
5,066 SF
Building Details
Year Built
1973
Listing Agency:
Millennium Properties RE, Inc.
Listed By:
Susan Silver · License #475136992
(312) 338-3001
Source:
Bktchicago
Added: Mar 26
Changed: Oct 5
Last Checked: Oct 23 at 8:23AM
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 Millennium Properties RE, Inc.
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Investment Insights
Based on property information with market context.
A 5,066 square foot neighborhood shopping center, renovated in 2009, is available for sale. It is situated on a heavily-trafficked stretch of Kedzie Avenue and 159th Street. The tenants at the center include a currency exchange, Metro T-Mobile, JR Tobacco and GoCredit. The property includes parking for 40 vehicles and prominent pedestal signage. Its location offers close proximity to the I-57 interchange. Markham is an established community located in south suburban Cook County. The city is largely residential with a large number of retail and commercial properties concentrated along 159th between I-57 and I-294 expressways.
Key Highlights
- Heavily‑trafficked location on Kedzie Avenue and 159th Street.
- Proximity to the I‑57 interchange.
- Renovated in 2009.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,317
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,406,340
$1.4M
Cap Rate 7%
$1,004,529
$1.0M
Cap Rate 9%
$781,300
$781.3K
Market Conditions
NOI Build-Up for 5,066 SF
Gross rent
$109.4K $21.60/SF
− Vacancy
−$9.0K −$1.77/SF
EGI
$100.5K $19.83/SF
− OpEx
−$30.1K −$5.95/SF
NOI
$70.3K $13.88/SF
Area
Cook 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%
$1,406,340
Cap Rate 7%
$1,004,529
Cap Rate 9%
$781,300
Alternative Uses
Best Use
Retail
$1.00M
$879.0K – $1.17M
NOI $70,317 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,434 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 60428, IL
11,351
Population
4,138
Households
2.7
Avg Household Size
36
Median Age
16%
College-Educated
87%
High-School Grad
5.1 sq mi
ZIP Area
2,226
Density / Sq Mi
$53,059
Median Household Income
$39,861
Median Earnings
$1,686
Median Rent
$118,900
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Canterbury Plaza Properties — 2959 W 159th St # F, Markham, IL 60428
- Coinstar Kiosk — 3057 w 159th st, markham, il 60428
- Coinstar Kiosk | Bitcoin ATM — Fairplay Foods, 3057 W 159th St, Markham, IL 60428
Frequently Asked Questions
What type of property is this?
Shopping center - 5,066 SF shopping center on heavily-trafficked Kedzie Avenue.
Where is this shopping center located?
The property is located at 3200 W 159th St Markham, IL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Heavily‑trafficked location on Kedzie Avenue and 159th Street.; Proximity to the I‑57 interchange.; Renovated in 2009.
