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    Fully Occupied Retail Investment Property Title is generated by Realmo AI

    6518-6534 W North Ave, Chicago, IL

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    100% occupied retail property with strong tenant mix.

    Type:RETAIL
    Property size:
    13,778 SF
    Lot size:
    0.96 Acres
    Price / SF:
    $195/SF
    Added:
    Aug 4, 2025
    Days on Market:
    292
    Last Refresh:
    Apr 5 at 9:24 pm

    Property Features for 6518-6534 W North Ave

    General Information

    Standard status
    Active
    Size
    13,778 SF
    Lot size
    0.96 Acres
    Property subtype
    RETAIL

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    Listing Contact
    Adrian Mendoza
    Adrian Mendoza

    Listing agent Adrian Mendoza License #IL:475.140200

    Listing office Marcus & Millichap | Chicago Oak Brook

    Listing date Aug 4, 2025

    Source Moodyscre

    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 | Chicago Oak Brook

    HighLights

    • 100% Occupied, providing immediate income.
    • 80% of tenants on NNN Leases, offering stable returns.
    • Highly visible site with 234' of frontage and a prominent 2‑story pylon sign.
    • Strong mix of local and national tenants along main retail thoroughfare.
    • Densely populated area with 313K + people within 3 miles.
    • Historic RT64 (North Ave) sees 32K VPD.

    Overview

    This 13,778 square foot retail property is 100% occupied, with 80% of tenants on NNN leases. The property features a strong mix of local and national tenants along a main retail thoroughfare. Situated on historic RT64 (North Ave), the location benefits from a traffic count of 32,000 vehicles per day. The site offers high visibility with 234 feet of frontage and a two-story pylon sign. Located in a densely populated area with over 313,000 people within a 3-mile radius, the property provides easy access to Chicago and urban/suburban markets. Ample surface and street parking is available.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $2.12M
    NOI $190,616 @ 9.00% cap · cautious / downside scenario
    Moderate
    $2.72M
    NOI $190,616 @ 7.00% cap · market / base-case scenario
    Aggressive
    $3.81M
    NOI $190,616 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
    Calculated for Retail

    Component $ $/SF
    Gross rent $297.6k $21.60
    − Vacancy −$25.3k −$1.84
    EGI $272.3k $19.76
    − OpEx −$81.7k −$5.93
    NOI $190.6k $13.83
    13,778 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $2.72M
    $2.38M – $3.18M (±1% cap)
    NOI $190,616 @ 7.0% cap · market cap 7.07%
    Second Best
    no second resolved use
    Theoretical Best
    Office A
    $6.50M
    $5.68M – $7.58M (±1% cap)
    NOI $454,740 @ 7.0% cap · market cap 16.86%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Richardson Restoration Services Hardware & Home Improvement

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.788869
    Latitude
    41.909471

    FAQs

    What type of property is this?
    Strip mall - 100% occupied retail property with strong tenant mix.
    Where is this strip mall located?
    The property is located at 6518-6534 W North Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $2,697,000.
    What are key features of this property?
    This property features: 100% Occupied, providing immediate income.; 80% of tenants on NNN Leases, offering stable returns.; Highly visible site with 234' of frontage and a prominent 2‑story pylon sign.
    (708) 228-9457 Call to check price and availability
    More about this property
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