Three-Store Mini Strip
3406 Main St, Skokie, IL 60076
For Sale
$429,000
Small retail strip center with three leased storefronts, including a hair salon and bakery space.
Property Size2,600 SF
Price / SF$165
Days on Market148
Property Features for 3406 Main St
General Information
Standard status
Size
Building Details
Year Built
Listing Agency:
American International Realty
Listed By:
Rony Khezeran · License IL #471005867
(773) 386-9939
Source:
Liveliferealty
Added: Jun 16
Changed: Oct 26
Last Checked: Nov 8 at 9:38AM
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 American International Realty
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Investment Insights
Based on property information with market context.
This mini strip center features three separate retail stores on a 50 x 125 lot with approximately 11 parking spaces. The total retail area is approximately 2,450–2,550 square feet, providing multiple spaces for a variety of neighborhood-oriented uses. Current tenants include a hair salon and a bakery space.
The property is located at 3406 Main Street in Skokie, IL, on a high-traffic street. Parking is available on-site with approximately 11 spaces, supporting customer access to the storefronts.
For investors or owner-operators seeking small-balance retail, the center is already set up with income-producing tenants. The hair salon lease expires in April 2026, and the bakery space is leased through May 2027. With multiple storefronts under one ownership, the property offers a straightforward way to acquire a compact retail asset tailored to day-to-day consumer traffic.
The property is located at 3406 Main Street in Skokie, IL, on a high-traffic street. Parking is available on-site with approximately 11 spaces, supporting customer access to the storefronts.
For investors or owner-operators seeking small-balance retail, the center is already set up with income-producing tenants. The hair salon lease expires in April 2026, and the bakery space is leased through May 2027. With multiple storefronts under one ownership, the property offers a straightforward way to acquire a compact retail asset tailored to day-to-day consumer traffic.
Key Highlights
- Mini strip center built in 1950 with 3 leased storefronts totaling approximately 2,450–2,550 SF
- 11 parking spaces on a 50' x 125' lot
- Hair salon lease at $1,450; lease expires April 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,570
Cap Rate
8.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$731,400
$731.4K
Cap Rate 7%
$522,429
$522.4K
Cap Rate 9%
$406,333
$406.3K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$57.1K $21.96/SF
− Vacancy
−$4.9K −$1.87/SF
EGI
$52.2K $20.09/SF
− OpEx
−$15.7K −$6.03/SF
NOI
$36.6K $14.07/SF
Area
Cook County, IL
Vacancy
8.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$731,400
Cap Rate 7%
$522,429
Cap Rate 9%
$406,333
Alternative Uses
Best Use
Retail
$522.4K
$457.1K – $609.5K
NOI $36,570 @ 7.0% cap · market cap 8.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$998.4K
$873.6K – $1.16M
NOI $69,888 @ 7.0% cap · market cap 16.29%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,293
Businesses Nearby
254k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 54%
Apparel 15%
Groceries 14%
Shops & Services 12%
Sam's Club
Superstores
137,204 visits/mo
0.4 miles
Marshalls
Apparel
37,859 visits/mo
0.4 miles
Food 4 Less
Groceries
34,423 visits/mo
0.4 miles
Five Below
Shops & Services
15,873 visits/mo
0.4 miles
Floor & Decor
Home Improvements & Furnishings
7,790 visits/mo
0.4 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
$381,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Strip malls in Cook County, IL
Properties on Market for Strip malls in Cook County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Strip mall - Small retail strip center with three leased storefronts, including a hair salon and bakery space.
Where is this strip mall located?
The property is located at 3406 Main St Skokie, IL.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Mini strip center built in 1950 with 3 leased storefronts totaling approximately 2,450–2,550 SF; 11 parking spaces on a 50' x 125' lot; Hair salon lease at $1,450; lease expires April 2026
