Mixed-Use Property with Auto
For Sale
Contact for pricing
915 Oakton Street, Des Plaines, IL 60016
Combined commercial, residential, and automotive space supports a live-work configuration under one roof.
Property Size6,500 SF
Price / SF$146
Days on Market11
Property Features for 915 Oakton Street
General Information
Standard status
Active
Size
6,500 SF
Property subtype
Retail, Mixed Use
Zoning
COMMR
Site & Location
Traffic Count
20,400 vehicles/day
Road Access
Yes
Amenities
automotive lift
on-site parking
Building Details
Year Built
1940
Buildings
1
Stories
2
Units
3
Construction
brick
Tenancy
Multi
Listing Agency:
Homesmart Connect LLC
(847) 495-5000
Listed By:
Emilio Bartucci · License #IL
Source:
Crexi
Added: Aug 22
Changed: Aug 31
Last Checked: Aug 31 at 8:32PM
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 Homesmart Connect LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines approximately 6,500 SF of commercial, residential, and automotive space within one building. The layout includes a 7.5-car garage with an automotive lift, two storefront commercial spaces, and two apartments. The configuration accommodates substantial vehicle, equipment, and material storage alongside business and residential areas.
Located at 915 Oakton Street in Des Plaines, the property benefits from Oakton Street exposure, approximately 20,400 vehicles per day, convenient access, and on-site parking. Brick construction and a 1940 build date are additional physical characteristics of the asset. The property is suited to an owner-user or investor seeking an integrated combination of garage, storefront, and apartment space.
Located at 915 Oakton Street in Des Plaines, the property benefits from Oakton Street exposure, approximately 20,400 vehicles per day, convenient access, and on-site parking. Brick construction and a 1940 build date are additional physical characteristics of the asset. The property is suited to an owner-user or investor seeking an integrated combination of garage, storefront, and apartment space.
Key Highlights
- Approximately 6,500 SF mixed‑use building
- 7.5‑car garage equipped with an automotive lift
- Two storefront commercial spaces and two apartments
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
$27,980
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
2.95%
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%
$559,600
$559.6K
Cap Rate 7%
$399,714
$399.7K
Cap Rate 9%
$310,889
$310.9K
Market Conditions
NOI Build-Up for 6,500 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
$42.1K $6.48/SF
− Vacancy
−$2.1K −$0.33/SF
EGI
$40.0K $6.15/SF
− OpEx
−$12.0K −$1.84/SF
NOI
$28.0K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /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%
$559,600
Cap Rate 7%
$399,714
Cap Rate 9%
$310,889
Alternative Uses
Best Use
Mixed Use
$1.57M
$1.37M – $1.83M
NOI $109,688 @ 7.0% cap · market cap 11.56%
Second Best
Retail
$1.29M
$1.13M – $1.50M
NOI $90,221 @ 7.0% cap · market cap 9.51%
Theoretical Best
Office A
$2.24M
$1.96M – $2.62M
NOI $157,091 @ 7.0% cap · market cap 16.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20,400 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combined commercial, residential, and automotive space supports a live-work configuration under one roof.
Where is this mixed-use property located?
The property is located at 915 Oakton Street Des Plaines, IL.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Approximately 6,500 SF mixed‑use building; 7.5‑car garage equipped with an automotive lift; Two storefront commercial spaces and two apartments
