Ground-Floor Retail Condo
For Sale
Contact for pricing
4144 N Sheridan Rd, Chicago, IL 60613
Four individual ground-floor retail units are available for sale, with income already in place for three units.
Property Size900 SF
Price / SF$188.89
Days on Market222
Property Features for 4144 N Sheridan Rd
General Information
Standard status
Active
Size
900 SF
Property subtype
RETAIL
Listing Agency:
SVN | Chicago - Corporate
(312) 529-5791
Listed By:
Wayne Caplan · License #475132248
Source:
Moodyscre
Added: Jan 22
Changed: Aug 22
Last Checked: Aug 31 at 1:37AM
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 SVN | Chicago - Corporate
Investment Insights
Based on property information with market context.
This ground-floor retail condo building includes four separate commercial units totaling 4,320 SF. Unit sizes are approximately 1,020 SF, 900 SF, 900 SF, and 1,500 SF, and the units may be purchased individually or as a whole. Existing income is already in place from three of the four units, providing immediate occupancy history for investors.
The property is located at 4144 N Sheridan Rd in Chicago. Units C1 and C2 are also available for lease at $20/SF NNN.
For buyers considering a flexible strategy, the offering supports both single-unit acquisition and full-building ownership across multiple retail configurations.
The property is located at 4144 N Sheridan Rd in Chicago. Units C1 and C2 are also available for lease at $20/SF NNN.
For buyers considering a flexible strategy, the offering supports both single-unit acquisition and full-building ownership across multiple retail configurations.
Key Highlights
- 4,320 SF ground‑floor commercial condo building with four individual retail units
- Unit sizes: ±1,020 SF, 900 SF, 900 SF, and 1,500 SF; units can be purchased individually or as a whole
- Existing income in place from three of the four units
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
$12,451
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
7.32%
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%
$249,020
$249.0K
Cap Rate 7%
$177,871
$177.9K
Cap Rate 9%
$138,344
$138.3K
Market Conditions
NOI Build-Up for 900 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
$19.4K $21.60/SF
− Vacancy
−$1.7K −$1.84/SF
EGI
$17.8K $19.76/SF
− OpEx
−$5.3K −$5.93/SF
NOI
$12.5K $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%
$249,020
Cap Rate 7%
$177,871
Cap Rate 9%
$138,344
Alternative Uses
Best Use
Retail
$177.9K
$155.6K – $207.5K
NOI $12,451 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$424.3K
$371.3K – $495.1K
NOI $29,704 @ 7.0% cap · market cap 17.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,612
Businesses Nearby
120k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Groceries 27%
Dining 7%
Home Improvements & Furnishings 4%
Aldi
Groceries
32,487 visits/mo
0.4 miles
BP
Shops & Services
32,347 visits/mo
0.4 miles
Dollar Tree
Shops & Services
18,696 visits/mo
0.4 miles
Dunkin' Donuts
Dining
7,190 visits/mo
0.4 miles
BP
Shops & Services
6,740 visits/mo
0.4 miles
Demographics for 60613, IL
53,048
Population
31,263
Households
1.7
Avg Household Size
34
Median Age
75%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
23,064
Density / Sq Mi
$91,351
Median Household Income
$68,713
Median Earnings
$1,616
Median Rent
$397,800
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.
Frequently Asked Questions
What type of property is this?
Retail space - Four individual ground-floor retail units are available for sale, with income already in place for three units.
Where is this retail space located?
The property is located at 4144 N Sheridan Rd Chicago, IL.
What is the asking price?
The asking price for this property is $170,000.
What are key features of this property?
This property features: 4,320 SF ground‑floor commercial condo building with four individual retail units; Unit sizes: ±1,020 SF, 900 SF, 900 SF, and 1,500 SF; units can be purchased individually or as a whole; Existing income in place from three of the four units
