Mixed-Use Building with
New
For Sale
$1,250,000
6600-04 W Roosevelt Rd W, Oak Park, IL 60304
Three apartments occupy the second floor above three ground-level retail units, each with separately metered utilities.
Property Size8,277 SF
Price / SF$151.02
Days on Market2
Property Features for 6600-04 W Roosevelt Rd W
General Information
Standard status
Active
Size
8,277 SF
Building Details
Year Built
1909
Listing Agency:
Charles Rutenberg Realty
Listed By:
Peter Liu · License #475143953
(773) 306-5626
Source:
Bktchicago
Added: Sep 26
Last Checked: Sep 26 at 3:06PM
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 Charles Rutenberg Realty
Investment Insights
Based on property information with market context.
This 8,277-square-foot mixed-use property, built in 1909, combines three retail spaces on the ground floor with three apartments upstairs. Renovations to all six units have taken place since 2016. Each unit has separate heat, air conditioning, and utilities. Five units are occupied, while one commercial space is vacant and offered for lease.
The building occupies the northwest corner of Roosevelt Road and South East Avenue in Oak Park. The property includes four paved parking spaces at the rear and a brick garage sized for two cars. I-290, Harlem, and North Riverside Mall are cited as convenient destinations from the property.
The building occupies the northwest corner of Roosevelt Road and South East Avenue in Oak Park. The property includes four paved parking spaces at the rear and a brick garage sized for two cars. I-290, Harlem, and North Riverside Mall are cited as convenient destinations from the property.
Key Highlights
- 8,277‑square‑foot mixed‑use property built in 1909
- Three ground‑floor retail units and three second‑floor apartments
- All six units renovated since 2016; heat, air conditioning, and utilities separated by unit
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
$114,886
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
9.19%
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%
$2,297,720
$2.3M
Cap Rate 7%
$1,641,229
$1.6M
Cap Rate 9%
$1,276,511
$1.3M
Market Conditions
NOI Build-Up for 8,277 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
$178.8K $21.60/SF
− Vacancy
−$14.7K −$1.77/SF
EGI
$164.1K $19.83/SF
− OpEx
−$49.2K −$5.95/SF
NOI
$114.9K $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%
$2,297,720
Cap Rate 7%
$1,641,229
Cap Rate 9%
$1,276,511
Alternative Uses
Best Use
Mixed Use
$2.00M
$1.75M – $2.33M
NOI $139,674 @ 7.0% cap · market cap 11.17%
Second Best
Retail
$1.64M
$1.44M – $1.91M
NOI $114,886 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$2.86M
$2.50M – $3.33M
NOI $200,037 @ 7.0% cap · market cap 16.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,282
Businesses Nearby
Explore this area
Business Placement
Demographics for 60304, IL
17,842
Population
6,842
Households
2.6
Avg Household Size
38
Median Age
73%
College-Educated
97%
High-School Grad
1.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$132,841
Median Household Income
$76,027
Median Earnings
$1,279
Median Rent
$470,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three apartments occupy the second floor above three ground-level retail units, each with separately metered utilities.
Where is this mixed-use property located?
The property is located at 6600-04 W Roosevelt Rd W Oak Park, IL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 8,277‑square‑foot mixed‑use property built in 1909; Three ground‑floor retail units and three second‑floor apartments; All six units renovated since 2016; heat, air conditioning, and utilities separated by unit
