Upgraded Storefront
New
For Sale
$815,000
6009 Dempster Street, Morton Grove, IL 60053
C-1-zoned commercial property with dedicated parking and access to a free municipal parking lot.
Property Size5,250 SF
Price / SF$155.24
Days on Market5
Property Features for 6009 Dempster Street
General Information
Standard status
Active
Size
5,250 SF
Property subtype
COMMERCIAL
Zoning
C-1
Taxes and HOA fees
Annual Taxes
$56,065
Building Details
Building Size
5,250 SF
Year Built
1970
Listing Agency:
Coldwell Banker Realty
Listed By:
Elizabeth Hunt
(847) 541-5000
Source:
Dawnmckennagroup
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 4 at 11:51AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 5,250-square-foot storefront property was built in 1970 and has undergone substantial upgrades since the current owners acquired it. The existing configuration may be adaptable for commercial, retail, office, or medical uses permitted within the C-1 General Commercial District.
The property includes its own parking and also provides access to a free municipal parking lot. Interstate 94 is nearby, adding a regional access point for the site.
The current owners are seeking a two-year rent-back arrangement with an option for a third year. Research regarding potential division of the property for additional uses has also been completed and can be shared with interested parties.
The property includes its own parking and also provides access to a free municipal parking lot. Interstate 94 is nearby, adding a regional access point for the site.
The current owners are seeking a two-year rent-back arrangement with an option for a third year. Research regarding potential division of the property for additional uses has also been completed and can be shared with interested parties.
Key Highlights
- 5,250 SF storefront property
- C‑1 General Commercial District zoning
- Upgraded since the current owners purchased it
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
$72,871
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
8.94%
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%
$1,457,420
$1.5M
Cap Rate 7%
$1,041,014
$1.0M
Cap Rate 9%
$809,678
$809.7K
Market Conditions
NOI Build-Up for 5,250 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
$113.4K $21.60/SF
− Vacancy
−$9.3K −$1.77/SF
EGI
$104.1K $19.83/SF
− OpEx
−$31.2K −$5.95/SF
NOI
$72.9K $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%
$1,457,420
Cap Rate 7%
$1,041,014
Cap Rate 9%
$809,678
Alternative Uses
Best Use
Retail
$1.04M
$910.9K – $1.21M
NOI $72,871 @ 7.0% cap · market cap 8.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.59M – $2.11M
NOI $126,881 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,011
Businesses Nearby
63k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 46%
McDonald's
Dining
22,152 visits/mo
0.4 miles
Shell
Shops & Services
11,246 visits/mo
0.5 miles
BP
Shops & Services
9,441 visits/mo
0.5 miles
Giordano's
Dining
5,848 visits/mo
0.1 miles
Dunkin' Donuts
Dining
2,987 visits/mo
0.1 miles
Demographics for 60053, IL
25,297
Population
9,546
Households
2.7
Avg Household Size
45
Median Age
52%
College-Educated
90%
High-School Grad
5.1 sq mi
ZIP Area
4,960
Density / Sq Mi
$106,078
Median Household Income
$61,315
Median Earnings
$2,210
Median Rent
$377,000
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?
Storefront property - C-1-zoned commercial property with dedicated parking and access to a free municipal parking lot.
Where is this storefront property located?
The property is located at 6009 Dempster Street Morton Grove, IL.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: 5,250 SF storefront property; C‑1 General Commercial District zoning; Upgraded since the current owners purchased it
