Freestanding Retail
For Sale
$1,299,000
4835 Dempster Street, Skokie, IL 60077
B-3-zoned storefront with open interior space, substantial glazing, secure entry doors, and surrounding customer parking.
Property Size4,000 SF
Lot Size0.27 Acres
Price / SF$324.75
Days on Market9
Property Features for 4835 Dempster Street
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
12
Lot size
0.27 Acres
Property subtype
COMMERCIAL
Zoning
B-3
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Land Use
retail
Taxes and HOA fees
Annual Taxes
$24,950
Building Details
Building Size
4,000 SF
Year Built
1955
Buildings
1
Construction
masonry
Listing Agency:
@properties Commercial
Listed By:
Michael Levin · License #475123263
(312) 506-0200
Source:
Dawnmckennagroup
Added: Sep 16
Changed: Sep 23
Last Checked: Sep 22 at 10:29PM
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 @properties Commercial
Investment Insights
Based on property information with market context.
This freestanding masonry storefront contains 4,000 total SQ FT on an 11,690 SQ FT land site and was built in 1955. The existing retail layout features a largely open interior, high ceilings, large windows with north and east exposure, secure entrance doors, and a 200+ amp electric system. A surrounding parking lot provides 12 spaces.
The property occupies a signalized corner at Dempster Street and Niles Center Road in Skokie’s western retail and office corridor. Frontage is reported at 105.1 SQ FT on Dempster and 126.3 SQ FT on Niles Center. Traffic counts are 28,300 VPD on Dempster and 5,600 VPD on Niles Center. The site is approximately 0.6 miles east of the Edens Expressway, with CTA Skokie Swift service and bus transportation nearby. B-3 zoning supports the existing commercial setting, while the parcel is also identified for possible redevelopment.
The property occupies a signalized corner at Dempster Street and Niles Center Road in Skokie’s western retail and office corridor. Frontage is reported at 105.1 SQ FT on Dempster and 126.3 SQ FT on Niles Center. Traffic counts are 28,300 VPD on Dempster and 5,600 VPD on Niles Center. The site is approximately 0.6 miles east of the Edens Expressway, with CTA Skokie Swift service and bus transportation nearby. B-3 zoning supports the existing commercial setting, while the parcel is also identified for possible redevelopment.
Key Highlights
- 4,000 total SQ FT freestanding masonry retail building on an 11,690 SQ FT land site
- B‑3 zoning with existing retail buildout and open interior layout
- Signalized corner at Dempster Street and Niles Center Road
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
$55,521
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
4.27%
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%
$1,110,420
$1.1M
Cap Rate 7%
$793,157
$793.2K
Cap Rate 9%
$616,900
$616.9K
Market Conditions
NOI Build-Up for 4,000 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
$86.4K $21.60/SF
− Vacancy
−$7.1K −$1.77/SF
EGI
$79.3K $19.83/SF
− OpEx
−$23.8K −$5.95/SF
NOI
$55.5K $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%
$1,110,420
Cap Rate 7%
$793,157
Cap Rate 9%
$616,900
Alternative Uses
Best Use
Retail
$793.2K
$694.0K – $925.4K
NOI $55,521 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,671 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,356
Businesses Nearby
57k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Shops & Services 41%
Dunkin' Donuts
Dining
12,161 visits/mo
0.4 miles
Shell
Shops & Services
11,441 visits/mo
0.3 miles
Panda Express
Dining
10,595 visits/mo
0.4 miles
7-Eleven
Shops & Services
6,081 visits/mo
0.5 miles
Dunkin' Donuts
Dining
4,298 visits/mo
0.4 miles
Demographics for 60077, IL
28,856
Population
11,317
Households
2.5
Avg Household Size
43
Median Age
46%
College-Educated
92%
High-School Grad
4.2 sq mi
ZIP Area
6,870
Density / Sq Mi
$80,765
Median Household Income
$40,996
Median Earnings
$1,450
Median Rent
$327,400
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 Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - B-3-zoned storefront with open interior space, substantial glazing, secure entry doors, and surrounding customer parking.
Where is this storefront property located?
The property is located at 4835 Dempster Street Skokie, IL.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 4,000 total SQ FT freestanding masonry retail building on an 11,690 SQ FT land site; B‑3 zoning with existing retail buildout and open interior layout; Signalized corner at Dempster Street and Niles Center Road
