Strip Mall with Medical
New
For Sale
$6,477,000
4756 Cal Sag Rd, Crestwood, IL 60445
Fully occupied center at a signalized intersection with national retail and medical tenancy.
Property Size15,812 SF
Price / SF$409.63
Days on Market2
Property Features for 4756 Cal Sag Rd
General Information
Standard status
Active
Size
15,812 SF
Property subtype
Shopping Strip
Amenities
100% occupied med-tail center anchored by AT&T and FedEx
Long-operating history | AT&T and FedEx have been operating at this location since 2008
Union Wellness Clinic recently expanded into the adjoining 3,787 square foot space | Backed by 11 established union entities, each with $50M–$175M in net worth and 50+ years of operating history
1.2 miles from the on/off ramp of Interstate 294, which sees 153,900 vehicles per day
Located within a major retail hub with top ranked retailers attracting millions of annual visitors
Average household income of $100,547 within a five-mile radius
Building Details
Building Size
15,812 SF
Year Built
2008
Listing Agency:
Chicago Oak Brook Office
(630) 570-2169
Listed By:
Austin Weisenbeck · License #License(s): IL: 475.140200
(630) 570-2169
Source:
Marcusmillichap
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 1:59PM
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 Chicago Oak Brook Office
Investment Insights
Based on property information with market context.
Built in 2008, this 15,812 SF strip mall is fully occupied by AT&T, FedEx, and Union Wellness Centers. AT&T and FedEx have each operated at the property for 18+ years, while FedEx has approximately 9 years remaining on its term. Union Wellness Centers recently added 3,787 SF, bringing its presence across both suites to nearly five years of remaining term. The tenant is also remodeling its existing space and completing the buildout of the expansion area.
The property occupies the signalized intersection of Cicero Avenue and Cal Sag Road, a location recording 48,100 VPD. Interstate 294 is 1.2 miles away and carries 153,900 VPD. Rivercrest Shopping Center is adjacent, and the surrounding retail cluster includes national retailers. Within three miles, the trade area includes more than 84,000 residents and 86,000 employees; average household income exceeds $100,000 within five miles.
The property occupies the signalized intersection of Cicero Avenue and Cal Sag Road, a location recording 48,100 VPD. Interstate 294 is 1.2 miles away and carries 153,900 VPD. Rivercrest Shopping Center is adjacent, and the surrounding retail cluster includes national retailers. Within three miles, the trade area includes more than 84,000 residents and 86,000 employees; average household income exceeds $100,000 within five miles.
Key Highlights
- 15,812 SF strip mall built in 2008
- Fully occupied by AT&T, FedEx, and Union Wellness Centers
- AT&T and FedEx have each occupied the property for 18+ years
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
$219,473
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
3.39%
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%
$4,389,460
$4.4M
Cap Rate 7%
$3,135,329
$3.1M
Cap Rate 9%
$2,438,589
$2.4M
Market Conditions
NOI Build-Up for 15,812 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
$341.5K $21.60/SF
− Vacancy
−$28.0K −$1.77/SF
EGI
$313.5K $19.83/SF
− OpEx
−$94.1K −$5.95/SF
NOI
$219.5K $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%
$4,389,460
Cap Rate 7%
$3,135,329
Cap Rate 9%
$2,438,589
Alternative Uses
Best Use
Retail
$3.14M
$2.74M – $3.66M
NOI $219,473 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.46M
$4.78M – $6.37M
NOI $382,141 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
750
Businesses Nearby
141k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Apparel 28%
Hotels & Casinos 8%
Dining 7%
Dollar Tree
Shops & Services
39,911 visits/mo
0.5 miles
Burlington
Apparel
33,104 visits/mo
0.5 miles
PetSmart
Shops & Services
26,533 visits/mo
0.5 miles
Speedway
Shops & Services
13,426 visits/mo
0.3 miles
DoubleTree by Hilton Hotel Chicago
Hotels & Casinos
10,014 visits/mo
0.4 miles
Demographics for 60445, IL
14,692
Population
6,228
Households
2.4
Avg Household Size
37
Median Age
19%
College-Educated
88%
High-School Grad
4.3 sq mi
ZIP Area
3,417
Density / Sq Mi
$68,385
Median Household Income
$46,480
Median Earnings
$1,202
Median Rent
$201,700
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?
Strip mall - Fully occupied center at a signalized intersection with national retail and medical tenancy.
Where is this strip mall located?
The property is located at 4756 Cal Sag Rd Crestwood, IL.
What is the asking price?
The asking price for this property is $6,477,000.
What are key features of this property?
This property features: 15,812 SF strip mall built in 2008; Fully occupied by AT&T, FedEx, and Union Wellness Centers; AT&T and FedEx have each occupied the property for 18+ years
