Grocery-Adjacent Shopping Center For
For Sale
Contact for pricing
7532 1600 E, Chicago, IL
100% leased shopping center with necessity and fashion retailers.
Property Size66,171 SF
Lot Size1.85 Acres
Price / SF$178.33
Days on Market418
Property Features for 7532 1600 E
General Information
Standard status
Active
Size
66,171 SF
Lot size
1.85 Acres
Property subtype
RETAIL
Listing Agency:
Mid-America Real Estate Group | Chicago
(630) 954-7398
Listed By:
George Ghattas · License #475135588
Source:
Moodyscre
Added: Jul 2, 2025
Changed: Aug 17
Last Checked: Aug 22 at 1:40PM
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 Mid-America Real Estate Group | Chicago
Investment Insights
Based on property information with market context.
This offering presents the fee simple interest in a 66,171 square foot shopping center. The property is 100% leased and features a dynamic mix of necessity, fashion, and apparel retailers. The shopping center is grocery-adjacent.
Key Highlights
- 100% leased shopping center, offering immediate income.
- Grocery‑adjacent location, providing consistent customer traffic.
- Dynamic mix of necessity and fashion & apparel retailers.
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
$915,463
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
7.76%
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%
$18,309,260
$18.3M
Cap Rate 7%
$13,078,043
$13.1M
Cap Rate 9%
$10,171,811
$10.2M
Market Conditions
NOI Build-Up for 66,171 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
$1.43M $21.60/SF
− Vacancy
−$121.5K −$1.84/SF
EGI
$1.31M $19.76/SF
− OpEx
−$392.3K −$5.93/SF
NOI
$915.5K $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%
$18,309,260
Cap Rate 7%
$13,078,043
Cap Rate 9%
$10,171,811
Alternative Uses
Best Use
Retail
$13.08M
$11.44M – $15.26M
NOI $915,463 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$31.20M
$27.30M – $36.40M
NOI $2,183,961 @ 7.0% cap · market cap 18.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,238
Businesses Nearby
81k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Apparel 24%
Dining 18%
REI
Apparel
19,531 visits/mo
0.4 miles
Mobil
Shops & Services
15,111 visits/mo
0.4 miles
Dunkin' Donuts
Dining
12,619 visits/mo
0.3 miles
Exxon
Shops & Services
10,032 visits/mo
0.3 miles
PetSmart
Shops & Services
9,609 visits/mo
0.5 miles
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - 100% leased shopping center with necessity and fashion retailers.
Where is this shopping center located?
The property is located at 7532 1600 E Chicago, IL.
What is the asking price?
The asking price for this property is $11,800,000.
What are key features of this property?
This property features: 100% leased shopping center, offering immediate income.; Grocery‑adjacent location, providing consistent customer traffic.; Dynamic mix of necessity and fashion & apparel retailers.
