Building Details

Building Size 2,500 SF

Year Built 1918

Stories 1

Units 1

Listing Agency: First United Realtors, Inc. m***@ameritech.net

Listed By: Michael Kaput Show Phone

Source: Ifindpropertiesllc

Added: Sep 30 Changed: Oct 29 Last Checked: Oct 29 at 2:35PM

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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 First United Realtors, Inc.

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Investment Insights

Based on property information with market context.

This 2,500-square-foot flex property, built in 1918, combines a front office and showroom with a kitchen, one full bathroom, and one half bathroom. The finished basement provides additional office and storage areas, along with laundry. A rear garage has a 10-by-10-foot roll-up door, and the building offers 14-foot ceilings and heavy power. The property was rehabilitated several years ago.

Parking is located behind the building. The property is in Tiffin zoning; permitted uses should be confirmed with the Village.

Key Highlights

• 2,500‑square‑foot building constructed in 1918
• Front office and showroom with kitchen, one full bathroom, and one half bathroom
• Finished basement includes laundry, office, and storage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,325

Cap Rate

8.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$526,500 $526.5K

Cap Rate 7%

$376,071 $376.1K

Cap Rate 9%

$292,500 $292.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,500 SF

Gross rent

$45.0K $18.00/SF

− Vacancy

−$4.5K −$1.80/SF

EGI

$40.5K $16.20/SF

− OpEx

−$14.2K −$5.67/SF

NOI

$26.3K $10.53/SF

Area

Cook County, IL

Vacancy

10.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$526,500

Cap Rate 7%

$376,071

Cap Rate 9%

$292,500

Alternative Uses

Best Use

Retail

$495.7K

$433.8K – $578.3K (±1% cap)

NOI $34,700 @ 7.0% cap · market cap 11.76%

Second Best

Flex RnD

$376.1K

$329.1K – $438.8K (±1% cap)

NOI $26,325 @ 7.0% cap · market cap 8.92%

Theoretical Best

Office A

$863.1K

$755.3K – $1.01M (±1% cap)

NOI $60,420 @ 7.0% cap · market cap 20.48%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick HVAC Service Pharmacy Skin Care Clinic Electrical Service Gym & Fitness Center (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

14 ft

Clear height

1

Drive-in doors

Yes

Heavy power

Location Intelligence

Trade Area within ½ mile

492

Businesses Nearby

Explore this area Business Placement

Demographics for 60501, IL

11,746

Population

4,134

Households

2.8

Avg Household Size

34

Median Age

13%

College-Educated

69%

High-School Grad

4.4 sq mi

ZIP Area

2,670

Density / Sq Mi

$62,110

Median Household Income

$34,728

Median Earnings

$1,017

Median Rent

$227,300

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - A finished lower level adds laundry, office, and storage space to the building’s front office and showroom.

Where is this flex space located?

The property is located at 6224 S Archer Road Summit, IL.

What is the asking price?

The asking price for this property is $295,000.

What are key features of this property?

This property features: 2,500‑square‑foot building constructed in 1918; Front office and showroom with kitchen, one full bathroom, and one half bathroom; Finished basement includes laundry, office, and storage