Freestanding Flex
New
For Sale
$550,000
7737 S KEDZIE Avenue #7739, Chicago, IL 60652
Brick commercial building with office space, open work area, overhead doors, heating, and rear parking.
Property Size4,912 SF
Days on Market3
Property Features for 7737 S KEDZIE Avenue #7739
General Information
Standard status
Active
Size
4,912 SF
Property subtype
Commercial
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$24,208
Building Details
Building Size
4,912 SF
Year Built
1950
Stories
1
Units
1
Listing Agency:
Chicago Real Estate Resources
(773) 327-9300
Listed By:
Tuyen Nguyen · License #471006001
(773) 327-9300
Source:
Exit2newbeginningz
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 5:05AM
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 Chicago Real Estate Resources
Investment Insights
Based on property information with market context.
This freestanding brick flex property in Chicago’s Ashburn neighborhood provides 5,000 SF of commercial space in a building constructed in 1950. The interior combines approximately 500 SF of office area with 4,500 SF of open work space, supporting a range of operational layouts. Two new 10' overhead doors serve the heated garage, which also includes an employee bathroom with shower and an electric water heater.
The property is located at 7737 S Kedzie Avenue #7739 and includes 5 rear parking spaces. The existing configuration offers a practical combination of administrative space, work area, vehicle access, and on-site parking for an owner-user or commercial occupant.
The property is located at 7737 S Kedzie Avenue #7739 and includes 5 rear parking spaces. The existing configuration offers a practical combination of administrative space, work area, vehicle access, and on-site parking for an owner-user or commercial occupant.
Key Highlights
- 5,000 SF freestanding brick commercial building
- Approximately 500 SF of office space and 4,500 SF of open work area
- Two new 10' overhead doors
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
$30,803
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
5.60%
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%
$616,060
$616.1K
Cap Rate 7%
$440,043
$440.0K
Cap Rate 9%
$342,256
$342.3K
Market Conditions
NOI Build-Up for 4,912 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
$46.3K $9.43/SF
− Vacancy
−$2.3K −$0.47/SF
EGI
$44.0K $8.96/SF
− OpEx
−$13.2K −$2.69/SF
NOI
$30.8K $6.27/SF
Area
Chicago, IL
Vacancy
5.00%
Lease Rate
$9.43 /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%
$616,060
Cap Rate 7%
$440,043
Cap Rate 9%
$342,256
Alternative Uses
Best Use
Flex RnD
$810.1K
$708.8K – $945.1K
NOI $56,704 @ 7.0% cap · market cap 10.31%
Second Best
Industrial
$440.0K
$385.0K – $513.4K
NOI $30,803 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$2.32M
$2.03M – $2.70M
NOI $162,120 @ 7.0% cap · market cap 29.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60652, IL
40,898
Population
13,709
Households
3
Avg Household Size
37
Median Age
22%
College-Educated
81%
High-School Grad
4.8 sq mi
ZIP Area
8,520
Density / Sq Mi
$78,559
Median Household Income
$36,488
Median Earnings
$1,208
Median Rent
$235,000
Median Home Value
Market
Vacancy Rate% for Industrial in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Brick commercial building with office space, open work area, overhead doors, heating, and rear parking.
Where is this flex space located?
The property is located at 7737 S KEDZIE Avenue #7739 Chicago, IL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 5,000 SF freestanding brick commercial building; Approximately 500 SF of office space and 4,500 SF of open work area; Two new 10' overhead doors
