Medical Center with Central
For Sale
$475,000
6023 S Kedzie Avenue, Chicago, IL 60629
Medical center property with central air and RTAIL zoning in Chicago’s Cook County.
Property Size2,000 SF
Days on Market235
Property Features for 6023 S Kedzie Avenue
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Business Opportunity
Zoning
RTAIL
Taxes and HOA fees
Annual Taxes
$6,683
Amenities
Central Air
Building Details
Building Size
2,000 SF
Stories
1
Listing Agency:
(847) 682-9309
Listed By:
Partha Mukherjee
(847) 682-9309
Source:
Evrealestate
Added: Jan 8
Changed: Aug 30
Last Checked: Aug 30 at 12:55PM
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 Partha Mukherjee
Investment Insights
Based on property information with market context.
This medical center property includes central air and is identified with RTAIL zoning. The asset is located at 6023 S Kedzie Avenue in Chicago, within Cook County.
Access is available from I-55 via the Pulaski Road exit, followed by connections through 63rd Street and Kedzie Avenue. The property is positioned on the east side of Kedzie Avenue between 60th and 61st streets.
Access is available from I-55 via the Pulaski Road exit, followed by connections through 63rd Street and Kedzie Avenue. The property is positioned on the east side of Kedzie Avenue between 60th and 61st streets.
Key Highlights
- Central air included
- RTAIL zoning
- 6023 S Kedzie Avenue, Chicago, IL 60629
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
$36,197
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
7.62%
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%
$723,940
$723.9K
Cap Rate 7%
$517,100
$517.1K
Cap Rate 9%
$402,189
$402.2K
Market Conditions
NOI Build-Up for 2,000 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
$63.8K $31.92/SF
− Vacancy
−$15.6K −$7.79/SF
EGI
$48.3K $24.13/SF
− OpEx
−$12.1K −$6.03/SF
NOI
$36.2K $18.10/SF
Area
ZIP 60629
Vacancy
24.40%
Lease Rate
$31.92 /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%
$723,940
Cap Rate 7%
$517,100
Cap Rate 9%
$402,189
Alternative Uses
Best Use
Office B
$517.1K
$452.5K – $603.3K
NOI $36,197 @ 7.0% cap · market cap 7.62%
Second Best
Healthcare Medical
$378.5K
$331.2K – $441.6K
NOI $26,496 @ 7.0% cap · market cap 5.58%
Theoretical Best
Warehouse
$1.79M
$1.57M – $2.09M
NOI $125,590 @ 7.0% cap · market cap 26.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,131
Businesses Nearby
Explore this area
Business Placement
Demographics for 60629, IL
114,453
Population
36,283
Households
3.2
Avg Household Size
33
Median Age
14%
College-Educated
74%
High-School Grad
7.0 sq mi
ZIP Area
16,350
Density / Sq Mi
$58,813
Median Household Income
$34,635
Median Earnings
$1,106
Median Rent
$236,300
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Medical center property with central air and RTAIL zoning in Chicago’s Cook County.
Where is this medical center located?
The property is located at 6023 S Kedzie Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Central air included; RTAIL zoning; 6023 S Kedzie Avenue, Chicago, IL 60629
