Automotive Body
For Sale
$599,000
Pending
3650 Oakton Street, Skokie, IL 60076
Operating facility includes a mobility conversion business, equipment, and the underlying real estate.
Property Size3,440 SF
Days on Market17
Property Features for 3650 Oakton Street
General Information
Standard status
Pending
Size
3,440 SF
Property subtype
Business Opportunity
Zoning
COMMR
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$19,083
Building Details
Building Size
3,440 SF
Stories
1
Listing Agency:
Century 21 Circle
(773) 983-1553
Listed By:
Mark Ahmad · License #471007186
Source:
Jjillrealtygroup
Added: Aug 16
Changed: Aug 30
Last Checked: Aug 30 at 2:29AM
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 Century 21 Circle
Investment Insights
Based on property information with market context.
This automotive property combines a body shop with a custom wheelchair van and mobility conversion operation. The sale includes the business, equipment, and real estate, with approximately 3,440 square feet of improvements. The property is identified as commercial industrial and business corridor space, with the business and equipment included in the offering.
Access to I-90/I-94, I-294, and Lake Shore Dr. connects the facility with Chicago, the northwestern suburbs, and O'Hare Airport. Chicago downtown is also within the stated surrounding service area. An Amazon fleet station is located across the street. The adjacent building at 3654-3656 W. Oakton Ave. is separately available for sale.
Access to I-90/I-94, I-294, and Lake Shore Dr. connects the facility with Chicago, the northwestern suburbs, and O'Hare Airport. Chicago downtown is also within the stated surrounding service area. An Amazon fleet station is located across the street. The adjacent building at 3654-3656 W. Oakton Ave. is separately available for sale.
Key Highlights
- Approximately 3,440 Sq. ft. of improvements
- Body‑shop and custom wheelchair van & mobility conversion operation
- Business, equipment, and real estate included
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
$47,748
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
7.97%
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%
$954,960
$955.0K
Cap Rate 7%
$682,114
$682.1K
Cap Rate 9%
$530,533
$530.5K
Market Conditions
NOI Build-Up for 3,440 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
$74.3K $21.60/SF
− Vacancy
−$6.1K −$1.77/SF
EGI
$68.2K $19.83/SF
− OpEx
−$20.5K −$5.95/SF
NOI
$47.7K $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%
$954,960
Cap Rate 7%
$682,114
Cap Rate 9%
$530,533
Alternative Uses
Best Use
Retail
$682.1K
$596.9K – $795.8K
NOI $47,748 @ 7.0% cap · market cap 7.97%
Second Best
Industrial
$211.5K
$185.1K – $246.8K
NOI $14,808 @ 7.0% cap · market cap 2.47%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,137 @ 7.0% cap · market cap 13.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,124
Businesses Nearby
8k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 94%
Shops & Services 6%
Floor & Decor
Home Improvements & Furnishings
7,790 visits/mo
0.5 miles
Public Storage
Shops & Services
462 visits/mo
0.5 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?
Auto shop - Operating facility includes a mobility conversion business, equipment, and the underlying real estate.
Where is this auto shop located?
The property is located at 3650 Oakton Street Skokie, IL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Approximately 3,440 Sq. ft. of improvements; Body‑shop and custom wheelchair van & mobility conversion operation; Business, equipment, and real estate included
