Two-Tenant NNN Retail
For Sale
Contact for pricing
4817 W Irving Park Rd, Chicago, IL 60641
The 5,931-square-foot building is fully leased to two commercial tenants.
Property Size5,931 SF
Price / SF$320.18
Days on Market53
Property Features for 4817 W Irving Park Rd
General Information
Standard status
Active
Size
5,931 SF
Property subtype
RETAIL
Occupancy
100%
Site & Location
Corner Location
Yes
Anchor Co-Tenants
AT&T Mobility, Premier Physical Therapy
Traffic Count
70,000 vehicles/day
Highway Access
Yes
Public Transit
Yes
Building Details
Tenancy
Multi
Listing Agency:
Jameson Commercial
(312) 216-8000
Listed By:
Mark A. Jones · License #475107431
(312) 804-5722
Source:
Moodyscre
Added: Jul 30
Changed: Sep 15
Last Checked: Sep 19 at 11:43AM
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 Jameson Commercial
Investment Insights
Based on property information with market context.
This 5,931-square-foot NNN retail property at 4817 W Irving Park Rd in Chicago is occupied by two tenants under a fully leased arrangement. AT&T Mobility and Premier Physical Therapy are the current occupants, providing a combination of retail and healthcare-oriented tenancy within the building.
The property is positioned in the Six Corners area, with reported exposure to more than 70,000 vehicles per day. Nearby development includes 700+ new residential units, while transit and expressway access serve the surrounding commercial corridor. The site is also within an area identified for more than $130M in redevelopment; that figure is not included in the offering details here.
The property is positioned in the Six Corners area, with reported exposure to more than 70,000 vehicles per day. Nearby development includes 700+ new residential units, while transit and expressway access serve the surrounding commercial corridor. The site is also within an area identified for more than $130M in redevelopment; that figure is not included in the offering details here.
Key Highlights
- 5,931 SF retail property at 4817 W Irving Park Rd
- 100% leased to AT&T Mobility and Premier Physical Therapy
- Two‑tenant NNN property
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
$82,054
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
4.32%
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%
$1,641,080
$1.6M
Cap Rate 7%
$1,172,200
$1.2M
Cap Rate 9%
$911,711
$911.7K
Market Conditions
NOI Build-Up for 5,931 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
$128.1K $21.60/SF
− Vacancy
−$10.9K −$1.84/SF
EGI
$117.2K $19.76/SF
− OpEx
−$35.2K −$5.93/SF
NOI
$82.1K $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%
$1,641,080
Cap Rate 7%
$1,172,200
Cap Rate 9%
$911,711
Alternative Uses
Best Use
Retail
$1.17M
$1.03M – $1.37M
NOI $82,054 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.80M
$2.45M – $3.26M
NOI $195,751 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
70,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,996
Businesses Nearby
199k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Apparel 33%
Dining 29%
Home Improvements & Furnishings 1%
Marshalls
Apparel
50,242 visits/mo
0.2 miles
Culver's
Dining
23,761 visits/mo
0.2 miles
Dollar Tree
Shops & Services
23,411 visits/mo
0.2 miles
dd's DISCOUNTS
Shops & Services
19,227 visits/mo
0.1 miles
Chipotle Mexican Grill
Dining
15,781 visits/mo
0.1 miles
Demographics for 60641, IL
69,354
Population
27,377
Households
2.5
Avg Household Size
37
Median Age
36%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
17,339
Density / Sq Mi
$81,649
Median Household Income
$46,376
Median Earnings
$1,249
Median Rent
$373,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Chicago, IL
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Frequently Asked Questions
What type of property is this?
NNN property - The 5,931-square-foot building is fully leased to two commercial tenants.
Where is this nnn property located?
The property is located at 4817 W Irving Park Rd Chicago, IL.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: 5,931 SF retail property at 4817 W Irving Park Rd; 100% leased to AT&T Mobility and Premier Physical Therapy; Two‑tenant NNN property
