Iconic Oak Lawn Retail
For Sale
Contact for pricing
5540 W 95th St, Oak Lawn, IL 60453
Landmark building with retail center in high-traffic area.
Property Size6,279 SF
Price / SF$207.04
Days on Market167
Property Features for 5540 W 95th St
General Information
Standard status
Active
Size
6,279 SF
Property subtype
Retail
Investment Type
Owner/User
Building Details
Year Built
1979
Buildings
2
Stories
1
Listing Agency:
Brookline Real Estate
(630) 590-5910
Listed By:
Dominick Cannata · License #IL 00000
Source:
Crexi
Added: Feb 25
Changed: Aug 8
Last Checked: Aug 11 at 8:39AM
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 Brookline Real Estate
Investment Insights
Based on property information with market context.
This offering presents the opportunity to acquire a landmark property in Oak Lawn, IL. Included is the Premo's building, with business value included, and an adjacent three-tenant retail center. The property is located along a high-traffic commercial corridor, benefiting from strong daily vehicle counts and visibility. The location is surrounded by residential neighborhoods, national retailers, and local businesses, contributing to consistent consumer traffic. The Premo's building offers owner-user, investment, or redevelopment potential, while the neighboring multi-tenant strip center provides additional income. The property, totaling 6279 square feet, is an As-Is Estate Sale.
Key Highlights
- Prime location on a high‑traffic commercial corridor with strong visibility.
- Includes the iconic Premo's building with business value.
- Adjacent three‑tenant retail center provides additional income.
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
$87,154
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
6.70%
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%
$1,743,080
$1.7M
Cap Rate 7%
$1,245,057
$1.2M
Cap Rate 9%
$968,378
$968.4K
Market Conditions
NOI Build-Up for 6,279 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
$135.6K $21.60/SF
− Vacancy
−$11.1K −$1.77/SF
EGI
$124.5K $19.83/SF
− OpEx
−$37.4K −$5.95/SF
NOI
$87.2K $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%
$1,743,080
Cap Rate 7%
$1,245,057
Cap Rate 9%
$968,378
Alternative Uses
Best Use
Retail
$1.25M
$1.09M – $1.45M
NOI $87,154 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,750 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,523
Businesses Nearby
228k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 23%
Apparel 19%
Office Supplies 4%
Marshalls
Apparel
42,511 visits/mo
0.4 miles
White Castle
Dining
20,021 visits/mo
0.3 miles
Andy's Frozen Custard
Dining
17,899 visits/mo
0.4 miles
Speedway
Shops & Services
11,135 visits/mo
0.5 miles
Potbelly Sandwich Shop
Dining
10,869 visits/mo
0.1 miles
Demographics for 60453, IL
58,362
Population
23,115
Households
2.5
Avg Household Size
40
Median Age
30%
College-Educated
90%
High-School Grad
8.5 sq mi
ZIP Area
6,866
Density / Sq Mi
$82,493
Median Household Income
$48,810
Median Earnings
$1,310
Median Rent
$267,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Landmark building with retail center in high-traffic area.
Where is this retail space located?
The property is located at 5540 W 95th St Oak Lawn, IL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Prime location on a high‑traffic commercial corridor with strong visibility.; Includes the iconic Premo's building with business value.; Adjacent three‑tenant retail center provides additional income.
