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    3406-3410 Main St Skokie, IL 60076

    Sponsored
    For Sale
    $459,000

    Three-store plaza, high occupancy.

    Property size:
    2,450 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a three-story, multi-tenant retail plaza located at 3406-3410 W Main St, Skokie, IL 60076, in Cook County. The property boasts approximately 2,450-2,550 square feet of leasable space, currently enjoying 100% occupancy with gross leases in place. The current tenants include a hair salon and a bakery, generating a substantial monthly gross income of $4,200, translating to $50,400 annually. Lease terms vary, with one expiring in April 2025 and the other in May 2027. Annual expenses, including real estate taxes of $18,660, total $20,000, resulting in a strong annual net income of $30,400. The property features 11 parking spaces, conveniently located both in front and behind the building. Its prime location offers easy access to Skokie's downtown area, the vibrant Oakton St. and Lincoln Ave./Niles Center Rd. entertainment corridor, and major interstates I-90 and I-94, providing convenient access to O'Hare Airport and Chicago's downtown. This versatile property is well-suited for a variety of retail and professional businesses, making it an attractive investment with a 7.00% cap rate. The asking price is $459,000.

    Property Features for 3406-3410 Main St

    General Information

    Property type
    Land
    Square Feet
    2,450 SF

    Building Details

    Stories
    3

    HighLights

    • Three‑story, multi‑tenant retail plaza totaling 2,450‑2,550 square feet.
    • 100% occupied with gross leases.
    • Tenants include a hair salon ($1,350/month, lease expiring April 2025) and a bakery ($2,850/month, lease expiring May 2027).
    • $4,200 monthly gross income; $50,400 annual gross income.
    • Annual expenses of $20,000 (including $18,660 in real estate taxes).
    • $30,400 annual net income.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Skokie
    County
    Cook
    State
    Illinois
    Longitude
    -87.7271123
    Latitude
    42.026064

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    FAQs

    What type of property is this?
    Land - Three-store plaza, high occupancy.
    Where is this land located?
    The property is located at 3406-3410 Main St Skokie, IL.
    What is the asking price?
    The asking price for this property is $459,000.
    What are key features of this property?
    This property features: Three-story, multi-tenant retail plaza totaling 2,450-2,550 square feet.; 100% occupied with gross leases.; Tenants include a hair salon ($1,350/month, lease expiring April 2025) and a bakery ($2,850/month, lease expiring May 2027).
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3406-3410 Main St Skokie, IL 60076
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