Brick Medical Office with
For Sale
Contact for pricing
5902 W 35th St, Cicero, IL 60804
Former dental practice with updated mechanical systems, two restrooms, and commercial zoning in Cicero.
Property Size2,623 SF
Price / SF$162.03
Days on Market8
Property Features for 5902 W 35th St
General Information
Standard status
Active
Size
2,623 SF
Property subtype
OFFICE
Building Details
Construction
brick
Listing Agency:
Edgemark Commercial Real Estate Services, LLC
(630) 235-3319
Listed By:
Jeffrey J. Kowal
(630) 235-3319
Source:
Moodyscre
Added: Jul 30
Changed: Aug 2
Last Checked: Aug 6 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 Edgemark Commercial Real Estate Services, LLC
Investment Insights
Based on property information with market context.
This 2,623-square-foot medical office property at 5902 W 35th St in Cicero features all-brick construction and a layout formerly used as a dental office for 35 years. The interior includes two restrooms and a gas fireplace in the front reception area. A heated rear garage and rear entry door add functional support space.
The property has a white-coated roof installed in 2008 and a 3 Ton furnace and HVAC system added in 2019. Electrical service is rated at 400 AMP and 220 Volts. The rear garage door was installed in 2019, and tuck-pointing was completed in 2024. Commercial zoning supports the property’s current office classification.
The property has a white-coated roof installed in 2008 and a 3 Ton furnace and HVAC system added in 2019. Electrical service is rated at 400 AMP and 220 Volts. The rear garage door was installed in 2019, and tuck-pointing was completed in 2024. Commercial zoning supports the property’s current office classification.
Key Highlights
- 2,623‑square‑foot medical office property in Cicero
- Former dental office occupied for 35 years
- All‑brick construction with two restrooms
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
$36,167
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
8.51%
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%
$723,340
$723.3K
Cap Rate 7%
$516,671
$516.7K
Cap Rate 9%
$401,856
$401.9K
Market Conditions
NOI Build-Up for 2,623 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
$64.2K $24.48/SF
− Vacancy
−$16.0K −$6.10/SF
EGI
$48.2K $18.38/SF
− OpEx
−$12.1K −$4.60/SF
NOI
$36.2K $13.79/SF
Area
Cook County, IL
Vacancy
24.90%
Lease Rate
$24.48 /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%
$723,340
Cap Rate 7%
$516,671
Cap Rate 9%
$401,856
Alternative Uses
Best Use
Office B
$516.7K
$452.1K – $602.8K
NOI $36,167 @ 7.0% cap · market cap 8.51%
Second Best
Healthcare Medical
$496.4K
$434.4K – $579.2K
NOI $34,750 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$905.6K
$792.4K – $1.06M
NOI $63,392 @ 7.0% cap · market cap 14.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Animal Hospital On Route 66 — 6045 Ogden Ave, Cicero, IL 60804
Frequently Asked Questions
What type of property is this?
Medical Office Space - Former dental practice with updated mechanical systems, two restrooms, and commercial zoning in Cicero.
Where is this medical office space located?
The property is located at 5902 W 35th St Cicero, IL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,623‑square‑foot medical office property in Cicero; Former dental office occupied for 35 years; All‑brick construction with two restrooms
