Automotive Service
For Sale
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600 E Northwest Hwy, Des Plaines, IL 60016
Commercial property classified for auto shop use in Des Plaines.
Property Size2,830 SF
Price / SF$246
Days on Market145
Property Features for 600 E Northwest Hwy
General Information
Standard status
Active
Size
2,830 SF
Property subtype
Retail, Special Purpose
Investment Type
Owner/User
Building Details
Year Renovated
2019
Buildings
1
Stories
1
Units
1
Listing Agency:
GSA Consultants
Listed By:
George Stapleton · License #Illinois 471.008048
Source:
Crexi
Added: Apr 9
Changed: Aug 31
Last Checked: Aug 31 at 2:10AM
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 GSA Consultants
Investment Insights
Based on property information with market context.
This commercial property is classified as an auto shop and contains approximately 2,830 square feet. The asset is located at 600 E Northwest Hwy in Des Plaines, Illinois 60016.
Key Highlights
- Auto shop classification
- Approximately 2,830 square feet
- 600 E Northwest Hwy, Des Plaines, IL 60016
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
$47,374
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
6.78%
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%
$947,480
$947.5K
Cap Rate 7%
$676,771
$676.8K
Cap Rate 9%
$526,378
$526.4K
Market Conditions
NOI Build-Up for 2,830 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
$67.9K $24.00/SF
− Vacancy
−$4.8K −$1.68/SF
EGI
$63.2K $22.32/SF
− OpEx
−$15.8K −$5.58/SF
NOI
$47.4K $16.74/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$24.00 /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%
$947,480
Cap Rate 7%
$676,771
Cap Rate 9%
$526,378
Alternative Uses
Best Use
Specialty Retail
$676.8K
$592.2K – $789.6K
NOI $47,374 @ 7.0% cap · market cap 6.78%
Second Best
Retail
$561.2K
$491.0K – $654.7K
NOI $39,281 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$977.1K
$854.9K – $1.14M
NOI $68,395 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60016, IL
61,888
Population
25,613
Households
2.4
Avg Household Size
42
Median Age
43%
College-Educated
89%
High-School Grad
12.1 sq mi
ZIP Area
5,115
Density / Sq Mi
$84,044
Median Household Income
$50,180
Median Earnings
$1,406
Median Rent
$300,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Tri-R-Service Inc — 419 E Golf Rd, Des Plaines, IL 60016
- Hellstrom Automotive Inc — 190 S Wolf Rd, Des Plaines, IL 60016
- Gleason's Automotive, Inc. — 173 S Wolf Rd, Des Plaines, IL 60016
- Honda Service — des plaines, il 60016
- Pro Truck Tires — 622 E Northwest Hwy, Des Plaines, IL 60016
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial property classified for auto shop use in Des Plaines.
Where is this auto shop located?
The property is located at 600 E Northwest Hwy Des Plaines, IL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Auto shop classification; Approximately 2,830 square feet; 600 E Northwest Hwy, Des Plaines, IL 60016
