Vacant Retail
For Sale
$899,000
4848 N Sheridan Road, Chicago, IL 60640
Open commercial layout accommodates retail, medical, fitness, and service-oriented uses.
Property Size5,257 SF
Price / SF$171.01
Days on Market146
Property Features for 4848 N Sheridan Road
General Information
Standard status
Active
Size
5,257 SF
Property subtype
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$14,728
Building Details
Building Size
5,257 SF
Year Built
1970
Listing Agency:
Kawash Group 630-340-1985 Overview Other property details Taxes $14,728 Tax Frequency Annually Association Fee Frequency Yearly Coldwell Banker Dawn McKenna Group Request a tour Contact agent Request a tour Contact agent Listed by Nader Kawash with Kawash Group 630-340-1985
Listed By:
Nader Kawash
Source:
Dawnmckennagroup
Added: Apr 23
Changed: Sep 14
Last Checked: Sep 15 at 11:03AM
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 Kawash Group 630-340-1985 Overview Other property details Taxes $14,728 Tax Frequency Annually Association Fee Frequency Yearly Coldwell Banker Dawn McKenna Group Request a tour Contact agent Request a tour Contact agent Listed by Nader Kawash with Kawash Group 630-340-1985
Investment Insights
Based on property information with market context.
This vacant retail property contains 5,257 square feet and offers a flexible interior arrangement for a range of commercial applications. The space can support retail, medical, fitness, or service uses, making it suitable for an owner-user or an investment strategy. The building was constructed in 1970.
Positioned on N Sheridan Rd in Chicago, the property benefits from reported foot and vehicle traffic. Its established retail format and adaptable layout provide a practical foundation for occupancy by businesses requiring customer access and a configurable commercial environment.
Positioned on N Sheridan Rd in Chicago, the property benefits from reported foot and vehicle traffic. Its established retail format and adaptable layout provide a practical foundation for occupancy by businesses requiring customer access and a configurable commercial environment.
Key Highlights
- 5,257 SF of retail space
- Flexible layout for retail, medical, fitness, or service uses
- Vacant possession available
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
$72,730
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
8.09%
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%
$1,454,600
$1.5M
Cap Rate 7%
$1,039,000
$1.0M
Cap Rate 9%
$808,111
$808.1K
Market Conditions
NOI Build-Up for 5,257 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
$113.6K $21.60/SF
− Vacancy
−$9.7K −$1.84/SF
EGI
$103.9K $19.76/SF
− OpEx
−$31.2K −$5.93/SF
NOI
$72.7K $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%
$1,454,600
Cap Rate 7%
$1,039,000
Cap Rate 9%
$808,111
Alternative Uses
Best Use
Retail
$1.04M
$909.1K – $1.21M
NOI $72,730 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.48M
$2.17M – $2.89M
NOI $173,506 @ 7.0% cap · market cap 19.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,539
Businesses Nearby
255k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 34%
Dining 34%
Groceries 28%
Home Improvements & Furnishings 4%
Mariano's
Groceries
38,415 visits/mo
0.5 miles
Aldi
Groceries
32,487 visits/mo
0.5 miles
McDonald's
Dining
30,355 visits/mo
0.3 miles
McDonald's
Dining
27,614 visits/mo
0.4 miles
Dollar Tree
Shops & Services
18,696 visits/mo
0.5 miles
Demographics for 60640, IL
65,941
Population
40,850
Households
1.6
Avg Household Size
38
Median Age
63%
College-Educated
92%
High-School Grad
2.4 sq mi
ZIP Area
27,475
Density / Sq Mi
$71,030
Median Household Income
$59,264
Median Earnings
$1,374
Median Rent
$363,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Open commercial layout accommodates retail, medical, fitness, and service-oriented uses.
Where is this retail space located?
The property is located at 4848 N Sheridan Road Chicago, IL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 5,257 SF of retail space; Flexible layout for retail, medical, fitness, or service uses; Vacant possession available
