Signalized-Corner Storefront
New
For Sale
$1,550,000
4935 Oakton St, Skokie, IL 60077
Single-story commercial building with Oakton Street frontage, dedicated parking, and CX - Core Mixed-Use zoning.
Property Size7,000 SF
Lot Size0.21 Acres
Price / SF$221.43
Days on Market2
Property Features for 4935 Oakton St
General Information
Standard status
Active
Size
7,000 SF
Total Parking Spaces
8
Lot size
0.21 Acres
Zoning
CX
Site & Location
Frontage
79 ft
Road Frontage
79 ft
Corner Location
Yes
Traffic Count
19,050 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Land Use
commercial, retail, mixed-use
Building Details
Year Built
1956
Buildings
1
Stories
1
Listing Agency:
Core Realty & Investments, Inc
Listed By:
Maxim Gorenyuk · License #IL475138942
Source:
Liveliferealty
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 16 at 3:07PM
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 Core Realty & Investments, Inc
Investment Insights
Based on property information with market context.
This single-story storefront and showroom property contains approximately 7,000 SF on an approximately 0.21-acre site. The building provides approximately 79 feet of Oakton Street frontage, 8 dedicated parking spaces, and potential divisibility to approximately 2,000 SF minimum. It has operated as a furniture showroom since 1992 and may support retail, showroom, service, restaurant or QSR, medical, wellness, office, and mixed-use applications subject to zoning and Village approvals.
The property occupies the signalized intersection of Oakton Street and Niles Avenue in Downtown Skokie. It is approximately 3 blocks from the Oakton-Skokie CTA Yellow Line station and minutes from I-94 / Edens Expressway. The site is across Oakton Street from the approximately 23-acre Illinois Science + Technology Park and is within the Oakton-Niles TIF District. CX - Core Mixed-Use zoning supports pedestrian-oriented commercial and mixed-use development, subject to applicable requirements.
The property occupies the signalized intersection of Oakton Street and Niles Avenue in Downtown Skokie. It is approximately 3 blocks from the Oakton-Skokie CTA Yellow Line station and minutes from I-94 / Edens Expressway. The site is across Oakton Street from the approximately 23-acre Illinois Science + Technology Park and is within the Oakton-Niles TIF District. CX - Core Mixed-Use zoning supports pedestrian-oriented commercial and mixed-use development, subject to applicable requirements.
Key Highlights
- Approximately 7,000 SF single‑story storefront and showroom building
- Approximately 0.21‑acre site with 79 feet of Oakton Street frontage
- Signalized corner at Oakton Street and Niles Avenue
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
$97,161
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
6.27%
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%
$1,943,220
$1.9M
Cap Rate 7%
$1,388,014
$1.4M
Cap Rate 9%
$1,079,567
$1.1M
Market Conditions
NOI Build-Up for 7,000 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
$151.2K $21.60/SF
− Vacancy
−$12.4K −$1.77/SF
EGI
$138.8K $19.83/SF
− OpEx
−$41.6K −$5.95/SF
NOI
$97.2K $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%
$1,943,220
Cap Rate 7%
$1,388,014
Cap Rate 9%
$1,079,567
Alternative Uses
Best Use
Retail
$1.39M
$1.21M – $1.62M
NOI $97,161 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.42M
$2.11M – $2.82M
NOI $169,175 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
19,050 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,444
Businesses Nearby
42k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 37%
Groceries 37%
Dining 14%
Home Improvements & Furnishings 11%
Aldi
Groceries
15,453 visits/mo
0.1 miles
Chase Bank
Shops & Services
10,444 visits/mo
0.2 miles
Village Inn
Dining
6,020 visits/mo
0.3 miles
Ace Hardware Of Skokie
Home Improvements & Furnishings
3,660 visits/mo
0.2 miles
Enterprise Rent-A-Car
Shops & Services
2,429 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 - Single-story commercial building with Oakton Street frontage, dedicated parking, and CX - Core Mixed-Use zoning.
Where is this storefront property located?
The property is located at 4935 Oakton St Skokie, IL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Approximately 7,000 SF single‑story storefront and showroom building; Approximately 0.21‑acre site with 79 feet of Oakton Street frontage; Signalized corner at Oakton Street and Niles Avenue
