Corner Commercial
For Sale
Contact for pricing
6057 S Kedzie Avenue, Chicago, IL 60629
Existing freestanding building includes parking and supports a variety of commercial uses.
Property Size2,640 SF
Price / SF$321.97
Days on Market144
Property Features for 6057 S Kedzie Avenue
General Information
Standard status
Active
Size
2,640 SF
Property subtype
Retail, Land
Zoning
Variety of Commercial Uses
Listing Agency:
Chicago Retail Brokers
Listed By:
Jason Sorce · License #471016013
Source:
Crexi
Added: Apr 11
Changed: Aug 30
Last Checked: Aug 30 at 4:22PM
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 Chicago Retail Brokers
Investment Insights
Based on property information with market context.
This commercial land offering includes an existing 2,640 SF freestanding building with parking. The property can be considered for continued commercial use or redevelopment, subject to applicable approvals.
Located at 6057 S. Kedzie Avenue in Chicago, Illinois, the site is identified for a variety of commercial uses. Its corner position and existing improvements provide a defined starting point for evaluating the property.
Located at 6057 S. Kedzie Avenue in Chicago, Illinois, the site is identified for a variety of commercial uses. Its corner position and existing improvements provide a defined starting point for evaluating the property.
Key Highlights
- 2,640 SF existing building
- On‑site parking included
- Corner property at 6057 S. Kedzie Avenue
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
$36,524
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
4.30%
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%
$730,480
$730.5K
Cap Rate 7%
$521,771
$521.8K
Cap Rate 9%
$405,822
$405.8K
Market Conditions
NOI Build-Up for 2,640 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
$57.0K $21.60/SF
− Vacancy
−$4.8K −$1.84/SF
EGI
$52.2K $19.76/SF
− OpEx
−$15.7K −$5.93/SF
NOI
$36.5K $13.83/SF
Area
ZIP 60629
Vacancy
8.50%
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%
$730,480
Cap Rate 7%
$521,771
Cap Rate 9%
$405,822
Alternative Uses
Best Use
Retail
$521.8K
$456.6K – $608.7K
NOI $36,524 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.37M
$2.07M – $2.76M
NOI $165,779 @ 7.0% cap · market cap 19.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,126
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 Retail in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Existing freestanding building includes parking and supports a variety of commercial uses.
Where is this commercial land located?
The property is located at 6057 S Kedzie Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2,640 SF existing building; On‑site parking included; Corner property at 6057 S. Kedzie Avenue
