High-Traffic Retail Corridor
For Sale
Contact for pricing
5231 S Pulaski Rd, Chicago, IL
Retail property in high-traffic Chicago location near transportation.
Property Size6,600 SF
Lot Size1.14 Acres
Price / SF$462.73
Days on Market284
Property Features for 5231 S Pulaski Rd
General Information
Standard status
Active
Size
6,600 SF
Lot size
1.14 Acres
Property subtype
RETAIL
Listing Agency:
STREAM Capital Partners
(314) 324-8792
Listed By:
Graham Gold · License #475152062
Source:
Moodyscre
Added: Nov 11, 2025
Changed: Aug 8
Last Checked: Aug 21 at 7:33AM
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 STREAM Capital Partners
Investment Insights
Based on property information with market context.
This retail property is situated in a high-traffic corridor on Pulaski Road, which experiences 34,440 vehicles per day throughout the City of Chicago, offering strong traffic counts and visibility. The location is near other retailers, including Jewel-Osco, McDonald’s, Chipotle, and Walgreens. The property is located near Chicago’s Midway International Airport, which served approximately 21 million passengers in 2024. The site is one block from the CTA “L” Pulaski station, which saw total entries of 942,000 riders in 2024. It is located 1.5 miles from Interstate 55, a major route connecting the southwest suburbs to downtown Chicago, which sees approximately 190,000 vehicles per day. The property is planned to be renovated to ensure it is in excellent condition. The surrounding area has over 300,000 residents within a 3-mile radius.
Key Highlights
- High CTA ridership: Just a block from the 'L' Pulaski station, with significant entries.
- High traffic retail corridor: Located on Pulaski Rd. with strong visibility and nearby retailers.
- Dense Chicago demographics: Benefits from a large residential base in the surrounding area.
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
$122,839
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
4.02%
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%
$2,456,780
$2.5M
Cap Rate 7%
$1,754,843
$1.8M
Cap Rate 9%
$1,364,878
$1.4M
Market Conditions
NOI Build-Up for 6,600 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
$174.2K $26.40/SF
− Vacancy
−$10.5K −$1.58/SF
EGI
$163.8K $24.82/SF
− OpEx
−$40.9K −$6.20/SF
NOI
$122.8K $18.61/SF
Area
Chicago, IL
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$2,456,780
Cap Rate 7%
$1,754,843
Cap Rate 9%
$1,364,878
Alternative Uses
Best Use
Specialty Retail
$1.75M
$1.54M – $2.05M
NOI $122,839 @ 7.0% cap · market cap 4.02%
Second Best
Retail
$1.30M
$1.14M – $1.52M
NOI $91,310 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$3.11M
$2.72M – $3.63M
NOI $217,832 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,007
Businesses Nearby
122k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 84%
Shops & Services 12%
Electronics 4%
McDonald's
Dining
43,686 visits/mo
0.1 miles
Dunkin' Donuts
Dining
16,096 visits/mo
0.2 miles
Burger King
Dining
15,587 visits/mo
0.2 miles
Shell
Shops & Services
13,053 visits/mo
0.3 miles
Chipotle Mexican Grill
Dining
12,276 visits/mo
0.0 miles
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bank - Retail property in high-traffic Chicago location near transportation.
Where is this bank located?
The property is located at 5231 S Pulaski Rd Chicago, IL.
What is the asking price?
The asking price for this property is $3,054,000.
What are key features of this property?
This property features: High CTA ridership: Just a block from the 'L' Pulaski station, with significant entries.; High traffic retail corridor: Located on Pulaski Rd. with strong visibility and nearby retailers.; Dense Chicago demographics: Benefits from a large residential base in the surrounding area.
