Single-Story Office & Medical
For Sale
Contact for pricing
4448 Oakton Street, Skokie, IL 60076
Single-story suite with reception, conference rooms, multiple private offices, kitchenette, and two restrooms.
Property Size1,700 SF
Price / SF$155.88
Days on Market79
Property Features for 4448 Oakton Street
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Office, Retail
Zoning
COMMR
Additional Details
Highway Access
Yes
Building Details
Year Built
1958
Stories
1
Units
1
Listing Agency:
CENTURY 21 Circle
(773) 983-1553
Listed By:
Mark Ahmad · License #IL 471007186
Source:
Crexi
Added: Jun 3
Changed: Aug 18
Last Checked: Aug 19 at 10:14AM
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 single-story building is configured for professional use and currently operates as an attorney office. The space includes a reception area, conference rooms, four private offices, a kitchenette, and two restrooms. Its flexible footprint is also well-suited for a range of business concepts, including retail, office, showroom, and medical uses.
Set in a business corridor with access to the northwest suburbs, the property is surrounded by everyday amenities such as nearby dining, shops, and entertainment venues. Skokie Heritage Museum and Emily Oaks Nature Center are just steps away, and the property is within walking distance of Lincoln Ave and Oakton St. Transit access is also noted via the Tran Station, with major roads and interstates within a short distance.
For tenants and buyers seeking a straightforward, client-facing layout, the combination of reception, meeting space, and multiple private offices supports day-to-day operations and confidential work. The included kitchenette and two restrooms add convenience for staff and visitors. With its adaptable use profile, the building can fit businesses looking for a compact, single-story presence in a retail-and-professional setting.
Set in a business corridor with access to the northwest suburbs, the property is surrounded by everyday amenities such as nearby dining, shops, and entertainment venues. Skokie Heritage Museum and Emily Oaks Nature Center are just steps away, and the property is within walking distance of Lincoln Ave and Oakton St. Transit access is also noted via the Tran Station, with major roads and interstates within a short distance.
For tenants and buyers seeking a straightforward, client-facing layout, the combination of reception, meeting space, and multiple private offices supports day-to-day operations and confidential work. The included kitchenette and two restrooms add convenience for staff and visitors. With its adaptable use profile, the building can fit businesses looking for a compact, single-story presence in a retail-and-professional setting.
Key Highlights
- 1958‑built single‑story building offering approximately 1,700 SF
- Currently set up as an attorney office with reception area and multiple conference/private offices
- Includes kitchenette plus 2 baths
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
$23,440
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
8.85%
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%
$468,800
$468.8K
Cap Rate 7%
$334,857
$334.9K
Cap Rate 9%
$260,444
$260.4K
Market Conditions
NOI Build-Up for 1,700 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
$41.6K $24.48/SF
− Vacancy
−$10.4K −$6.10/SF
EGI
$31.3K $18.38/SF
− OpEx
−$7.8K −$4.60/SF
NOI
$23.4K $13.79/SF
Area
Cook County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
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%
$468,800
Cap Rate 7%
$334,857
Cap Rate 9%
$260,444
Alternative Uses
Best Use
Office B
$334.9K
$293.0K – $390.7K
NOI $23,440 @ 7.0% cap · market cap 8.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$586.9K
$513.6K – $684.8K
NOI $41,085 @ 7.0% cap · market cap 15.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Single-story suite with reception, conference rooms, multiple private offices, kitchenette, and two restrooms.
Where is this office units located?
The property is located at 4448 Oakton Street Skokie, IL.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 1958‑built single‑story building offering approximately 1,700 SF; Currently set up as an attorney office with reception area and multiple conference/private offices; Includes kitchenette plus 2 baths
