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    3421 Dempster St Skokie, IL 60076

    Sponsored
    For Sale
    $825,000

    High-yield, multi-tenant office building

    Property size:
    5,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property, located at 3421 Dempster St, Skokie, IL 60076, presents a compelling value-add investment opportunity. The 5,200 square foot building, constructed in 1961, features four units across two stories and sits on a 7,000 square foot lot. Currently operating with a 9.00% cap rate and a net operating income (NOI) of $75,268, the property offers significant upside potential. The building is classified as Class B and features a gross lease type. The property includes 7 off-street parking spaces, supplemented by a nearby public parking lot. Individual HVAC systems are in place for each unit, with tenants responsible for their own utilities. The flexible floor plans allow for diverse tenant occupancy. Two units are currently available, one at 1,415 square feet and another at 1,600 square feet. The roof has recently been certified and features a new reflective coating. The property is zoned B-2 and offers prominent corner post signage. This is an owner/user investment opportunity with a total asking price of $825,000, or $158.65 per square foot. The building's prime location within Skokie's east Dempster Street business corridor offers excellent visibility and accessibility. The potential for mixed-use conversion is significant, adding further value to this already attractive investment.

    Property Features for 3421 Dempster St

    General Information

    Property type
    Medical offices
    Square Feet
    5,200 SF
    Class
    B

    Building Details

    Year Built
    1961
    Stories
    2
    Units
    4

    HighLights

    • High‑visibility corner lot with signage opportunities.
    • Individual HVAC units for climate control.
    • Certified roof in excellent condition.
    • Dedicated off‑street parking spaces available.
    • Convenient access to public parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Body & Brain Yoga ... Meditation Instructor

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Skokie
    County
    Cook
    State
    Illinois
    Longitude
    -87.714247327849
    Latitude
    42.040857348397

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    FAQs

    What type of property is this?
    Medical office - High-yield, multi-tenant office building
    Where is this medical office located?
    The property is located at 3421 Dempster St Skokie, IL.
    What is the asking price?
    The asking price for this property is $825,000.
    What are key features of this property?
    This property features: High-visibility corner lot with signage opportunities.; Individual HVAC units for climate control.; Certified roof in excellent condition.
    Request Owner's contact information
    3421 Dempster St Skokie, IL 60076
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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
    3421 Dempster St Skokie, IL 60076
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