Strip
For Sale
$3,499,888
3327-3361 Dempster Street, Skokie, IL 60076
The retail property is situated on Dempster Street in Skokie.
Property Size21,732 SF
Days on Market17
Property Features for 3327-3361 Dempster Street
General Information
Standard status
Active
Size
21,732 SF
Zoning
COMMR
Net Operating Income
$218,249
Taxes and HOA fees
Annual Taxes
$108,901
Building Details
Building Size
21,732 SF
Year Built
1956
Stories
11
Listing Agency:
HomeSmart Connect Real Estate
Listed By:
Ivelina Stoyanova · License #475132693
(312) 493-8327
Source:
Evrealestate
Added: Sep 10
Changed: Sep 26
Last Checked: Sep 25 at 2:14AM
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 HomeSmart Connect Real Estate
Investment Insights
Based on property information with market context.
The strip mall at 3327-3361 Dempster Street in Skokie, Illinois, was built in 1956. The property carries a COMMR zoning designation and is located in Cook County.
Key Highlights
- 3327‑3361 Dempster Street, Skokie, IL 60076
- Built in 1956
- Zoned COMMR
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
$301,644
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
8.62%
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%
$6,032,880
$6.0M
Cap Rate 7%
$4,309,200
$4.3M
Cap Rate 9%
$3,351,600
$3.4M
Market Conditions
NOI Build-Up for 21,732 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
$469.4K $21.60/SF
− Vacancy
−$38.5K −$1.77/SF
EGI
$430.9K $19.83/SF
− OpEx
−$129.3K −$5.95/SF
NOI
$301.6K $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 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%
$6,032,880
Cap Rate 7%
$4,309,200
Cap Rate 9%
$3,351,600
Alternative Uses
Best Use
Retail
$4.31M
$3.77M – $5.03M
NOI $301,644 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.50M
$6.57M – $8.75M
NOI $525,215 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,016
Businesses Nearby
66k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Dining 8%
Beauty & Spa 2%
Dollar Tree
Shops & Services
20,710 visits/mo
0.5 miles
BP
Shops & Services
17,319 visits/mo
0.1 miles
Shell
Shops & Services
7,132 visits/mo
0.4 miles
Little Caesars Pizza
Dining
5,604 visits/mo
0.3 miles
Exxon
Shops & Services
4,760 visits/mo
0.2 miles
Demographics for 60076, IL
34,295
Population
11,908
Households
2.9
Avg Household Size
42
Median Age
52%
College-Educated
91%
High-School Grad
5.1 sq mi
ZIP Area
6,725
Density / Sq Mi
$103,870
Median Household Income
$50,336
Median Earnings
$1,576
Median Rent
$381,000
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 - The retail property is situated on Dempster Street in Skokie.
Where is this strip mall located?
The property is located at 3327-3361 Dempster Street Skokie, IL.
What is the asking price?
The asking price for this property is $3,499,888.
What are key features of this property?
This property features: 3327‑3361 Dempster Street, Skokie, IL 60076; Built in 1956; Zoned COMMR
