Prime Commercial Property on Kedzie
For Sale
Contact for pricing
4150 N Kedzie Ave, Chicago, IL 60618
Turn-key commercial property with high visibility and extensive renovations.
Property Size8,000 SF
Price / SF$231.25
Days on Market200
Property Features for 4150 N Kedzie Ave
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Retail
Building Details
Units
1
Listing Agency:
luri properties
(312) 593-5080
Listed By:
Roger Luri · License #471016642
Source:
Crexi
Added: Feb 3
Changed: Aug 15
Last Checked: Aug 20 at 7:27AM
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 luri properties
Investment Insights
Based on property information with market context.
This commercial property is prominently situated on Kedzie Avenue, encompassing five contiguous lots. The location provides substantial frontage and high visibility within a high-traffic area. The property, currently operating as an electrical supply business, features an approximately 8,000 sq. ft. facility that has undergone extensive renovations. It is presented as a turn-key opportunity for an owner-operator or investor. The property could be divided, offering a potential leaseback opportunity. A state-of-the-art surveillance system, equipped with over 50 cameras, provides comprehensive site monitoring. The facility includes premium staff amenities such as a full kitchen and three remodeled bathrooms, two of which include showers. The electrical service is 800A 3Phase 240V.
Key Highlights
- High‑visibility location on Kedzie Avenue with massive frontage across five contiguous lots in a high‑traffic area.
- Turn‑key ~8,000 sq. ft. facility, extensively renovated and currently operating as an Electrical Supply business.
- Opportunity for division and leaseback.
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
$112,523
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
6.08%
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%
$2,250,460
$2.3M
Cap Rate 7%
$1,607,471
$1.6M
Cap Rate 9%
$1,250,256
$1.3M
Market Conditions
NOI Build-Up for 8,000 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
$175.7K $21.96/SF
− Vacancy
−$14.9K −$1.87/SF
EGI
$160.7K $20.09/SF
− OpEx
−$48.2K −$6.03/SF
NOI
$112.5K $14.07/SF
Area
ZIP 60618
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 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%
$2,250,460
Cap Rate 7%
$1,607,471
Cap Rate 9%
$1,250,256
Alternative Uses
Best Use
Retail
$1.61M
$1.41M – $1.88M
NOI $112,523 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.50M
$3.06M – $4.08M
NOI $244,676 @ 7.0% cap · market cap 13.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,997
Businesses Nearby
34k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 84%
Shops & Services 13%
Home Improvements & Furnishings 4%
McDonald's
Dining
28,743 visits/mo
0.4 miles
7-Eleven
Shops & Services
4,380 visits/mo
0.4 miles
Jays True Value
Home Improvements & Furnishings
1,216 visits/mo
0.5 miles
Demographics for 60618, IL
90,316
Population
41,053
Households
2.2
Avg Household Size
35
Median Age
55%
College-Educated
89%
High-School Grad
5.0 sq mi
ZIP Area
18,063
Density / Sq Mi
$101,558
Median Household Income
$60,263
Median Earnings
$1,534
Median Rent
$538,300
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Turn-key commercial property with high visibility and extensive renovations.
Where is this retail space located?
The property is located at 4150 N Kedzie Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: High‑visibility location on Kedzie Avenue with massive frontage across five contiguous lots in a high‑traffic area.; Turn‑key ~8,000 sq. ft. facility, extensively renovated and currently operating as an Electrical Supply business.; Opportunity for division and leaseback.
