Automotive Building with Drive-In
New
For Sale
$799,000
3632-36 N Cicero Avenue, Chicago, IL 60641
A corner site offers front and rear access, with a separate parking area for customer or vehicle use.
Property Size3,800 SF
Lot Size0.15 Acres
Price / SF$210.26
Days on Market5
Property Features for 3632-36 N Cicero Avenue
General Information
Standard status
Active
Size
3,800 SF
Lot size
0.15 Acres
Property subtype
COMMERCIAL
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Additional Details
Liquor License
No
Amenities
corner building
drive-in door
garage in rear
parking lot
Building Details
Building Size
3,800 SF
Buildings
1
Listing Agency:
Strauss Realty Ltd
Listed By:
Adam Schneiderman · License #475149601
(773) 736-3600
Source:
Cnetproperties
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 1 at 6:24PM
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 Strauss Realty Ltd
Investment Insights
Based on property information with market context.
This automotive property includes 3,800 square feet of interior space on a 6,750-square-foot lot. A drive-in door is positioned along the side street, and a garage sits at the rear. The building also provides access from both the front and back, with a 2,950-square-foot parking lot on site.
The property is on N Cicero Avenue in Chicago, just minutes from I-90/94. Its corner position and automotive-oriented access features shape the site’s physical configuration.
The property is on N Cicero Avenue in Chicago, just minutes from I-90/94. Its corner position and automotive-oriented access features shape the site’s physical configuration.
Key Highlights
- 3,800 SF of interior space on a 6,750 SF lot
- 2,950 SF parking lot
- Side‑street drive‑in door and rear garage
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
$52,572
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
6.58%
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%
$1,051,440
$1.1M
Cap Rate 7%
$751,029
$751.0K
Cap Rate 9%
$584,133
$584.1K
Market Conditions
NOI Build-Up for 3,800 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
$82.1K $21.60/SF
− Vacancy
−$7.0K −$1.84/SF
EGI
$75.1K $19.76/SF
− OpEx
−$22.5K −$5.93/SF
NOI
$52.6K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
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%
$1,051,440
Cap Rate 7%
$751,029
Cap Rate 9%
$584,133
Alternative Uses
Best Use
Retail
$751.0K
$657.2K – $876.2K
NOI $52,572 @ 7.0% cap · market cap 6.58%
Second Best
Industrial
$340.4K
$297.9K – $397.2K
NOI $23,830 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,418 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,804
Businesses Nearby
38k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Apparel 37%
Dining 11%
dd's DISCOUNTS
Shops & Services
19,227 visits/mo
0.5 miles
Ross Dress for Less
Apparel
13,894 visits/mo
0.5 miles
Mr. Submarine
Dining
3,151 visits/mo
0.5 miles
Domino's Pizza
Dining
1,019 visits/mo
0.4 miles
Jackson Hewitt Tax Service
Shops & Services
579 visits/mo
0.5 miles
Demographics for 60641, IL
69,354
Population
27,377
Households
2.5
Avg Household Size
37
Median Age
36%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
17,339
Density / Sq Mi
$81,649
Median Household Income
$46,376
Median Earnings
$1,249
Median Rent
$373,200
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Enterprise Rent-A-Car — 3057 N Cicero Ave, Chicago, IL 60641
- U-Haul Neighborhood Dealer — 3001 N Knox Ave, Chicago, IL 60641
- Hertz / Uber Vehicle Solutions — 4621 W Belmont Ave, Chicago, IL 60641, United States
- Hertz Truck Rental - Belmont Ave Truck And Va — 4621 W Belmont Ave #5, Chicago, IL 60641
- U-Haul Neighborhood Dealer — 4001 N Laramie Ave, Chicago, IL 60641
Frequently Asked Questions
What type of property is this?
Automotive property - A corner site offers front and rear access, with a separate parking area for customer or vehicle use.
Where is this automotive property located?
The property is located at 3632-36 N Cicero Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 3,800 SF of interior space on a 6,750 SF lot; 2,950 SF parking lot; Side‑street drive‑in door and rear garage
