Auto Shop and Mobility
For Sale
$849,000
Pending
3654-3656 Oakton Street, Skokie, IL 60076
Combined commercial buildings support automotive service, light industrial, manufacturing, and mobility-conversion operations.
Property Size3,964 SF
Days on Market28
Property Features for 3654-3656 Oakton Street
General Information
Standard status
Pending
Size
3,964 SF
Property subtype
Business Opportunity
Zoning
COMMR
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$24,630
Building Details
Building Size
3,964 SF
Buildings
2
Stories
1
Listing Agency:
Century 21 Circle
(773) 983-1553
Listed By:
Mark Ahmad · License #471007186
Source:
Jjillrealtygroup
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 29 at 6:40PM
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 commercial property includes a 3,964-square-foot building configuration formed by two combined structures. The sale includes the operating body shop and custom wheelchair van and mobility conversion business, along with equipment and the real estate. The buildings can be separated and are associated with two addresses and two PIN numbers.
The property is positioned in Skokie’s commercial industrial and business corridor, across from an Amazon fleet station. Access is provided to I-90, I-94, I-294, Lake Shore Drive, the northwestern suburbs, O’Hare Airport, and downtown Chicago. The permitted zoning information is inconsistent in the source material and is therefore not included.
The property is positioned in Skokie’s commercial industrial and business corridor, across from an Amazon fleet station. Access is provided to I-90, I-94, I-294, Lake Shore Drive, the northwestern suburbs, O’Hare Airport, and downtown Chicago. The permitted zoning information is inconsistent in the source material and is therefore not included.
Key Highlights
- 3,964 total square feet across 2 combined buildings
- Body shop and custom wheelchair van/mobility conversion business included
- Business, equipment, and real estate conveyed together
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
$55,021
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
6.48%
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%
$1,100,420
$1.1M
Cap Rate 7%
$786,014
$786.0K
Cap Rate 9%
$611,344
$611.3K
Market Conditions
NOI Build-Up for 3,964 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
$85.6K $21.60/SF
− Vacancy
−$7.0K −$1.77/SF
EGI
$78.6K $19.83/SF
− OpEx
−$23.6K −$5.95/SF
NOI
$55.0K $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%
$1,100,420
Cap Rate 7%
$786,014
Cap Rate 9%
$611,344
Alternative Uses
Best Use
Retail
$786.0K
$687.8K – $917.0K
NOI $55,021 @ 7.0% cap · market cap 6.48%
Second Best
Industrial
$243.8K
$213.3K – $284.4K
NOI $17,064 @ 7.0% cap · market cap 2.01%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,801 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,124
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Mad Kustoms and Window Tinting — 7345 N Lawndale Ave, Skokie, IL 60076
- Sam's Auto Clinic — 7349 Ridgeway Ave, Skokie, IL 60076
- Factory Muffler & Complete Auto Repair Inc — 7346 Central Park Ave, Skokie, IL 60076
- Roy's Alignment Services — 7346 Central Park Ave, Skokie, IL 60076
- 7 Auto Repair — 7401 Channel Rd, Skokie, IL 60076
Frequently Asked Questions
What type of property is this?
Auto shop - Combined commercial buildings support automotive service, light industrial, manufacturing, and mobility-conversion operations.
Where is this auto shop located?
The property is located at 3654-3656 Oakton Street Skokie, IL.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 3,964 total square feet across 2 combined buildings; Body shop and custom wheelchair van/mobility conversion business included; Business, equipment, and real estate conveyed together
