Chicago Retail Opportunity For
For Sale
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9255 S Western Ave, Chicago, IL 60643
24,800 SqFt retail space available in Chicago, Illinois.
Property Size24,800 SF
Price / SF$193.95
Days on Market164
Property Features for 9255 S Western Ave
General Information
Standard status
Active
Size
24,800 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$336,700
Building Details
Year Built
1969
Year Renovated
2021
Units
2
Tenancy
Multi
Listing Agency:
Bang Realty
(888) 737-2264
Listed By:
Brian Brockman · License #177814
Source:
Crexi
Added: Mar 10
Changed: Aug 8
Last Checked: Jul 17 at 8:36AM
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 Bang Realty
Investment Insights
Based on property information with market context.
This commercial property offers a retail space of 24,800 square feet. The property is located in Chicago, Illinois. The property is being offered for sale and has a capitalization rate of 7.00%.
Key Highlights
- 7.00% CAP Rate
- 24,800 SqFt Retail Space
- Retail Property Type
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
$343,103
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
7.13%
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%
$6,862,060
$6.9M
Cap Rate 7%
$4,901,471
$4.9M
Cap Rate 9%
$3,812,256
$3.8M
Market Conditions
NOI Build-Up for 24,800 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
$535.7K $21.60/SF
− Vacancy
−$45.5K −$1.84/SF
EGI
$490.1K $19.76/SF
− OpEx
−$147.0K −$5.93/SF
NOI
$343.1K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
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%
$6,862,060
Cap Rate 7%
$4,901,471
Cap Rate 9%
$3,812,256
Alternative Uses
Best Use
Retail
$4.90M
$4.29M – $5.72M
NOI $343,103 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.69M
$10.23M – $13.64M
NOI $818,519 @ 7.0% cap · market cap 17.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,311
Businesses Nearby
448k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 30%
Shops & Services 20%
Home Improvements & Furnishings 17%
Groceries 15%
Walmart
Superstores
136,394 visits/mo
0.3 miles
Menards
Home Improvements & Furnishings
73,302 visits/mo
0.3 miles
Meijer
Groceries
67,960 visits/mo
0.2 miles
McDonald's
Dining
33,822 visits/mo
0.1 miles
Dollar Tree
Shops & Services
30,164 visits/mo
0.0 miles
Demographics for 60643, IL
47,831
Population
19,541
Households
2.4
Avg Household Size
44
Median Age
39%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
6,464
Density / Sq Mi
$83,015
Median Household Income
$53,155
Median Earnings
$1,359
Median Rent
$233,900
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 24,800 SqFt retail space available in Chicago, Illinois.
Where is this retail space located?
The property is located at 9255 S Western Ave Chicago, IL.
What is the asking price?
The asking price for this property is $4,810,000.
What are key features of this property?
This property features: 7.00% CAP Rate; 24,800 SqFt Retail Space; Retail Property Type
