Brick Storefront With Rear
For Sale
Contact for pricing
5902 W 35th Street, Cicero, IL 60804
Commercially zoned brick building with reception area, two restrooms, and a heated rear garage.
Property Size2,623 SF
Lot Size0.06 Acres
Price / SF$162.03
Days on Market24
Property Features for 5902 W 35th Street
General Information
Standard status
Active
Size
2,623 SF
Lot size
0.06 Acres
Property subtype
Retail, Office
Zoning
Commercial
Investment Type
Owner/User
Amenities
restrooms
gas fireplace
Building Details
Year Built
1957
Year Renovated
1991
Buildings
1
Stories
1
Units
1
Building Size
2,623 SF
Construction
all-brick
Listing Agency:
Edgemark Commercial Real Estate Services
Listed By:
Jeff Kowal · License #IL 471006681
Source:
Crexi
Added: Jul 28
Changed: Aug 9
Last Checked: Aug 9 at 3:35AM
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
Investment Insights
Based on property information with market context.
Located at 5902 W. 35th Street in Cicero, Illinois, this 2,623-square-foot storefront property offers a commercially zoned layout with an established office configuration. The building previously served dental and retail functions and includes a front reception area, two restrooms, and a gas fireplace. A heated garage occupies the rear of the building, adding enclosed support space for operations or storage.
The all-brick structure sits on a 2,786-square-foot lot and was built in 1957. Its existing combination of customer-facing reception space, office-oriented improvements, restroom facilities, and rear garage space provides a defined starting point for continued commercial use.
The all-brick structure sits on a 2,786-square-foot lot and was built in 1957. Its existing combination of customer-facing reception space, office-oriented improvements, restroom facilities, and rear garage space provides a defined starting point for continued commercial use.
Key Highlights
- 2,623 SF storefront property on a 2,786 SF lot
- Commercial zoning in Cicero, Illinois
- Heated rear garage included
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
$36,408
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
8.57%
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%
$728,160
$728.2K
Cap Rate 7%
$520,114
$520.1K
Cap Rate 9%
$404,533
$404.5K
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
$56.7K $21.60/SF
− Vacancy
−$4.6K −$1.77/SF
EGI
$52.0K $19.83/SF
− OpEx
−$15.6K −$5.95/SF
NOI
$36.4K $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%
$728,160
Cap Rate 7%
$520,114
Cap Rate 9%
$404,533
Alternative Uses
Best Use
Retail
$520.1K
$455.1K – $606.8K
NOI $36,408 @ 7.0% cap · market cap 8.57%
Second Best
Office B
$516.7K
$452.1K – $602.8K
NOI $36,167 @ 7.0% cap · market cap 8.51%
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
613
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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Frequently Asked Questions
What type of property is this?
Storefront property - Commercially zoned brick building with reception area, two restrooms, and a heated rear garage.
Where is this storefront property located?
The property is located at 5902 W 35th Street 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 SF storefront property on a 2,786 SF lot; Commercial zoning in Cicero, Illinois; Heated rear garage included
