Ogden Avenue Commercial Property For
For Sale
Contact for pricing
Pending
5840 Ogden Ave, Cicero, IL 60804
Commercial property with long-term lease in Southwestern Chicago.
Property Size18,620 SF
Days on Market159
Property Features for 5840 Ogden Ave
General Information
Standard status
Pending
Size
18,620 SF
Property subtype
Industrial, Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Building Details
Year Built
1967
Year Renovated
2026
Tenancy
Single
Listing Agency:
Marcus & Millichap - Encino
Listed By:
Lior Regenstreif · License #CA 01267761
Source:
Crexi
Added: Mar 16
Changed: Aug 8
Last Checked: Jul 24 at 10:32AM
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 Marcus & Millichap - Encino
Investment Insights
Based on property information with market context.
This property features a new 15-year NNN corporate lease with Gerber Collision and Glass, a part of The Boyd Group Inc. The Boyd Group Inc. is one of the largest collision repair networks in the United States, with over 1,140 locations. The lease provides low-maintenance, long-term passive income. The property is located on Ogden Avenue, a major commercial corridor in Southwestern Chicago. The site offers strong visibility, easy access, and proximity to residential neighborhoods and regional thoroughfares. The suburban Chicago market is strong, with diverse economic drivers, high population density, and solid household incomes. This supports steady demand for automotive collision repair services, making this a reliable long-term investment. The property size is 18,620 square feet.
Key Highlights
- Brand new 15‑year NNN corporate lease with Gerber Collision and Glass.
- Located on Ogden Avenue, a major commercial corridor in Southwestern Chicago, offering strong visibility and easy access.
- Low‑maintenance, long‑term passive income opportunity.
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
$258,449
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
7.47%
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%
$5,168,980
$5.2M
Cap Rate 7%
$3,692,129
$3.7M
Cap Rate 9%
$2,871,656
$2.9M
Market Conditions
NOI Build-Up for 18,620 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
$402.2K $21.60/SF
− Vacancy
−$33.0K −$1.77/SF
EGI
$369.2K $19.83/SF
− OpEx
−$110.8K −$5.95/SF
NOI
$258.4K $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%
$5,168,980
Cap Rate 7%
$3,692,129
Cap Rate 9%
$2,871,656
Alternative Uses
Best Use
Retail
$3.69M
$3.23M – $4.31M
NOI $258,449 @ 7.0% cap · market cap 7.47%
Second Best
Industrial
$1.15M
$1.00M – $1.34M
NOI $80,153 @ 7.0% cap · market cap 2.32%
Theoretical Best
Office A
$6.43M
$5.63M – $7.50M
NOI $450,005 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
40k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 66%
Dining 34%
Dunkin' Donuts
Dining
11,653 visits/mo
0.1 miles
ARCO
Shops & Services
9,684 visits/mo
0.5 miles
7-Eleven
Shops & Services
9,075 visits/mo
0.5 miles
Advance Auto Parts
Shops & Services
3,806 visits/mo
0.4 miles
Felipe's
Dining
1,857 visits/mo
0.5 miles
Demographics for 60804, IL
85,673
Population
26,738
Households
3.2
Avg Household Size
32
Median Age
11%
College-Educated
68%
High-School Grad
7.1 sq mi
ZIP Area
12,067
Density / Sq Mi
$68,548
Median Household Income
$36,786
Median Earnings
$1,121
Median Rent
$236,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
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- Gear Towing Service Cicero IL — 3506 S 59th Ave, Cicero, IL 60804
- GS Towing INC — 5741 W 35th St #8, Cicero, IL 60804
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial property with long-term lease in Southwestern Chicago.
Where is this auto shop located?
The property is located at 5840 Ogden Ave Cicero, IL.
What is the asking price?
The asking price for this property is $3,460,000.
What are key features of this property?
This property features: Brand new 15‑year NNN corporate lease with Gerber Collision and Glass.; Located on Ogden Avenue, a major commercial corridor in Southwestern Chicago, offering strong visibility and easy access.; Low‑maintenance, long‑term passive income opportunity.
