Retail Strip in Des
For Sale
$3,165,000
603 Golf Rd, Des Plaines, IL 60016
15,042 SF retail strip in high-traffic Chicago suburb.
Property Size15,042 SF
Price / SF$210.41
Days on Market103
Property Features for 603 Golf Rd
General Information
Standard status
Active
Size
15,042 SF
Property subtype
Shopping Strip
Amenities
15,042-Square-Foot, 11-Tenant Retail Strip in High-Traffic Infill Area of Suburban Chicago
Dramatic Mark-to-Market Rent Upside: $15.78 Per Square-Foot Triple-Net Average Rent / Five of 11 Tenants are $6 - $14 Per Square-Foot Below-Market ($65K-Plus of NOI Upside)
30,280 Vehicles Per Day on W. Golf / Adjacent to 57,590 Vehicles Per Day Signalized Intersection
Small, High-Demand Bay Sizes: Average of 1,367 Square Feet; 100 Percent are <2,500 Square Feet
Seven of 11 Tenants with Over 20 Years of Tenancy; Four of 11 with 25-Plus Years of Tenancy
10 of 11 Leases feature Annual or CPI Rent Increases; Embedded NOI Plus Value Growth
Anchored by Top-Performing Domino's Location: Top 24 Percent Nationally; #1 in Trade- Area
High-Performing Trade-Area (Placer.ai) with Several Top-Performing Neighbors: McDonalds, Firestone, Mariano's, Binny's Beverage Depot, Ace Hardware, Dollar Tree, Walgreens, Bank of America, Chase, Kohl's, O'Reilly Auto
Building Details
Building Size
15,042 SF
Year Built
1970
Listing Agency:
Marcus & Millichap - Cleveland
(216) 264-2026
Listed By:
Scott Wiles · License #License(s): OH: SAL.2005013197
(216) 264-2026
Source:
Marcusmillichap
Added: May 21
Changed: Aug 8
Last Checked: Aug 31 at 12:38PM
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 Marcus & Millichap - Cleveland
Investment Insights
Based on property information with market context.
Bainbridge Plaza is a 15,042-square-foot retail strip center located in Des Plaines, Illinois. The property features 11 tenant spaces. It is situated in a high-traffic area within an infill suburban Chicago location. The surrounding area has a dense residential base, with over 1,000 units located amidst several neighboring apartment communities. The property is located approximately three miles from Elk Grove Business Park, which encompasses over 62 million square feet and is considered the largest industrial park in the United States. Additionally, the property is approximately three miles from O’Hare International Airport.
Key Highlights
- High‑traffic location in Des Plaines, Illinois.
- Strong infill demographics: affluent area with high population density.
- Located near Elk Grove Business Park, the largest industrial park in the US.
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
$208,785
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
6.60%
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%
$4,175,700
$4.2M
Cap Rate 7%
$2,982,643
$3.0M
Cap Rate 9%
$2,319,833
$2.3M
Market Conditions
NOI Build-Up for 15,042 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
$324.9K $21.60/SF
− Vacancy
−$26.6K −$1.77/SF
EGI
$298.3K $19.83/SF
− OpEx
−$89.5K −$5.95/SF
NOI
$208.8K $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%
$4,175,700
Cap Rate 7%
$2,982,643
Cap Rate 9%
$2,319,833
Alternative Uses
Best Use
Retail
$2.98M
$2.61M – $3.48M
NOI $208,785 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.19M
$4.54M – $6.06M
NOI $363,532 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
124k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Dining 30%
Groceries 20%
Beauty & Spa 1%
McDonald's
Dining
30,373 visits/mo
0.1 miles
Binny's Beverage Depot
Groceries
23,850 visits/mo
0.2 miles
Dollar Tree
Shops & Services
21,765 visits/mo
0.3 miles
Chase Bank
Shops & Services
13,625 visits/mo
0.4 miles
Bank of America
Shops & Services
9,469 visits/mo
0.3 miles
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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Frequently Asked Questions
What type of property is this?
Strip mall - 15,042 SF retail strip in high-traffic Chicago suburb.
Where is this strip mall located?
The property is located at 603 Golf Rd Des Plaines, IL.
What is the asking price?
The asking price for this property is $3,165,000.
What are key features of this property?
This property features: High‑traffic location in Des Plaines, Illinois.; Strong infill demographics: affluent area with high population density.; Located near Elk Grove Business Park, the largest industrial park in the US.
