Retail Investment Opportunity in Des
For Sale
$1,900,000
669-685 Graceland Ave, Des Plaines, IL 60016
Stable 6-unit retail asset with investment potential in Des Plaines.
Property Size10,825 SF
Price / SF$175.52
Days on Market221
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Property Features for 669-685 Graceland Ave
General Information
Standard status
Active
Size
10,825 SF
Property subtype
Commercial
Building Details
Year Built
1951
Listing Agency:
Coldwell Banker Realty
Listed By:
Michael Velasco · License #MRD371272
(847) 409-0232
Source:
Illianahomesource
Added: Mar 8
Changed: Oct 1
Last Checked: Oct 14 at 11:07PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
A 6-unit retail asset is available for sale in the Des Plaines Business District. The property has one vacancy. Recent developments in the area and a strong surrounding client base may offer an attractive opportunity to potential tenants. This property is positioned as a passive investment for a variety of investors.
Key Highlights
- Stable 6‑unit retail asset, a great investment.
- Located in Des Plaines Business District.
- Only one vacancy, ensures consistent income.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$150,253
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,005,060
$3.0M
Cap Rate 7%
$2,146,471
$2.1M
Cap Rate 9%
$1,669,478
$1.7M
Market Conditions
NOI Build-Up for 10,825 SF
Gross rent
$233.8K $21.60/SF
− Vacancy
−$19.2K −$1.77/SF
EGI
$214.6K $19.83/SF
− OpEx
−$64.4K −$5.95/SF
NOI
$150.3K $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 Rate 5%
$3,005,060
Cap Rate 7%
$2,146,471
Cap Rate 9%
$1,669,478
Alternative Uses
Best Use
Retail
$2.15M
$1.88M – $2.50M
NOI $150,253 @ 7.0% cap · market cap 7.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.74M
$3.27M – $4.36M
NOI $261,617 @ 7.0% cap · market cap 13.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,509
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Public Storage
Shops & Services
1,666 visits/mo
0.4 miles
Demographics for 60016, IL
61,888
Population
25,613
Households
2.4
Avg Household Size
42
Median Age
43%
College-Educated
89%
High-School Grad
12.1 sq mi
ZIP Area
5,115
Density / Sq Mi
$84,044
Median Household Income
$50,180
Median Earnings
$1,406
Median Rent
$300,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Strip mall - Stable 6-unit retail asset with investment potential in Des Plaines.
Where is this strip mall located?
The property is located at 669-685 Graceland Ave Des Plaines, IL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Stable 6‑unit retail asset, a great investment.; Located in Des Plaines Business District.; Only one vacancy, ensures consistent income.
