Three-Storefront Retail
New
For Sale
$589,000
6316 N Cicero Avenue, Chicago, IL 60646
Three commercial storefronts are positioned along Cicero Avenue near I-94 and multiple CTA connections.
Property Size3,250 SF
Price / SF$181.23
Days on Market5
Property Features for 6316 N Cicero Avenue
General Information
Standard status
Active
Size
3,250 SF
Property subtype
COMMERCIAL
Occupancy
100%
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$18,747
Building Details
Building Size
3,250 SF
Year Built
1959
Buildings
1
Tenancy
Multi
Listing Agency:
Century 21 Circle
(773) 983-1553
Listed By:
Mark Ahmad · License #471007186
Source:
Dawnmckennagroup
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 9:32PM
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 Century 21 Circle
Investment Insights
Based on property information with market context.
This 3,250-square-foot storefront property contains three commercial spaces in a building constructed in 1959. Current leases are described as year-to-year, with one tenant having occupied the property for decades.
The property is located at 6316 N Cicero Avenue in Chicago’s Sauganash-Forest Glen/Edgebrook area, bordering Lincolnwood Village. Access to I-94/Edens Expressway connects the site with Chicago’s North Side, the North Shore, and surrounding suburbs. CTA Route 54 operates along the corridor, while Jefferson Park Transportation Center provides access to the CTA Blue Line, CTA and Pace bus routes, and Metra’s Union Pacific Northwest Line. Whole Foods Market, restaurants, grocery businesses, and service providers are also identified nearby, with O’Hare International Airport a short distance away.
The property is located at 6316 N Cicero Avenue in Chicago’s Sauganash-Forest Glen/Edgebrook area, bordering Lincolnwood Village. Access to I-94/Edens Expressway connects the site with Chicago’s North Side, the North Shore, and surrounding suburbs. CTA Route 54 operates along the corridor, while Jefferson Park Transportation Center provides access to the CTA Blue Line, CTA and Pace bus routes, and Metra’s Union Pacific Northwest Line. Whole Foods Market, restaurants, grocery businesses, and service providers are also identified nearby, with O’Hare International Airport a short distance away.
Key Highlights
- 3,250‑square‑foot building with 3 commercial storefronts
- Constructed in 1959
- Current leases are year‑to‑year
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
$44,963
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
7.63%
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%
$899,260
$899.3K
Cap Rate 7%
$642,329
$642.3K
Cap Rate 9%
$499,589
$499.6K
Market Conditions
NOI Build-Up for 3,250 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
$70.2K $21.60/SF
− Vacancy
−$6.0K −$1.84/SF
EGI
$64.2K $19.76/SF
− OpEx
−$19.3K −$5.93/SF
NOI
$45.0K $13.83/SF
Area
Chicago, IL
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%
$899,260
Cap Rate 7%
$642,329
Cap Rate 9%
$499,589
Alternative Uses
Best Use
Retail
$642.3K
$562.0K – $749.4K
NOI $44,963 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,266 @ 7.0% cap · market cap 18.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
525
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60646, IL
28,383
Population
11,636
Households
2.4
Avg Household Size
44
Median Age
58%
College-Educated
95%
High-School Grad
4.4 sq mi
ZIP Area
6,451
Density / Sq Mi
$111,115
Median Household Income
$66,105
Median Earnings
$1,241
Median Rent
$493,600
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Three commercial storefronts are positioned along Cicero Avenue near I-94 and multiple CTA connections.
Where is this storefront property located?
The property is located at 6316 N Cicero Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 3,250‑square‑foot building with 3 commercial storefronts; Constructed in 1959; Current leases are year‑to‑year
