Freestanding Corner Retail
For Sale
$799,000
8743 Ogden Avenue, Lyons, IL 60534
Freestanding building on a high-traffic corner with B-1 zoning and parking access from three sides.
Property Size3,213 SF
Lot Size0.29 Acres
Price / SF$249.69
Days on Market446
Property Features for 8743 Ogden Avenue
General Information
Standard status
Active
Size
3,213 SF
Lot size
0.29 Acres
Property subtype
Commercial
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$33,297
Building Details
Building Size
3,213 SF
Year Built
1954
Stories
1
Units
1
Listing Agency:
@properties Christie's International Real Estate
Listed By:
Louis Parrino
(847) 692-5522
Source:
Midwestrealestate
Added: Jun 17, 2025
Changed: Sep 4
Last Checked: Aug 25 at 8:53AM
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 @properties Christie's International Real Estate
Investment Insights
Based on property information with market context.
This commercial property sits on a high-visibility corner along Ogden Ave and includes an approximately 3,200 sq. ft. freestanding building on a 12,825 sq. ft. lot. The site is zoned B-1 (Retail Business District) and features a parking lot accessible from three sides, providing flexible access for customer parking and operations. A plat of survey is available.
The property’s corner positioning is designed to support strong exposure for a range of commercial uses, with the current configuration described as suitable for retail storefront, restaurant, or gas station concepts. The frontage and multi-side parking access may support straightforward day-to-day operations and site usability for prospective tenants or buyers evaluating retail development or adaptive use.
The property’s corner positioning is designed to support strong exposure for a range of commercial uses, with the current configuration described as suitable for retail storefront, restaurant, or gas station concepts. The frontage and multi-side parking access may support straightforward day-to-day operations and site usability for prospective tenants or buyers evaluating retail development or adaptive use.
Key Highlights
- Approximately 3,200 SF freestanding building on a high‑traffic corner along Ogden Ave
- B‑1 (Retail Business District) zoning
- Parking lot provides access from three sides for flexible site use
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
$44,417
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
5.56%
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%
$888,340
$888.3K
Cap Rate 7%
$634,529
$634.5K
Cap Rate 9%
$493,522
$493.5K
Market Conditions
NOI Build-Up for 3,200 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
$69.1K $21.60/SF
− Vacancy
−$5.7K −$1.77/SF
EGI
$63.5K $19.83/SF
− OpEx
−$19.0K −$5.95/SF
NOI
$44.4K $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%
$888,340
Cap Rate 7%
$634,529
Cap Rate 9%
$493,522
Alternative Uses
Best Use
Retail
$634.5K
$555.2K – $740.3K
NOI $44,417 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$966.7K – $1.29M
NOI $77,337 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
80k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 78%
Shops & Services 21%
Hotels & Casinos 1%
Wendy's
Dining
24,360 visits/mo
0.4 miles
Starbucks
Dining
14,360 visits/mo
0.5 miles
Burger King
Dining
11,286 visits/mo
0.4 miles
Mobil
Shops & Services
9,676 visits/mo
0.1 miles
Jimmy John's
Dining
6,076 visits/mo
0.4 miles
Demographics for 60534, IL
10,749
Population
4,461
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
83%
High-School Grad
1.9 sq mi
ZIP Area
5,657
Density / Sq Mi
$63,827
Median Household Income
$41,328
Median Earnings
$1,149
Median Rent
$243,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding building on a high-traffic corner with B-1 zoning and parking access from three sides.
Where is this storefront property located?
The property is located at 8743 Ogden Avenue Lyons, IL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Approximately 3,200 SF freestanding building on a high‑traffic corner along Ogden Ave; B‑1 (Retail Business District) zoning; Parking lot provides access from three sides for flexible site use
