Beverly Plaza Shopping
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For Sale
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9601 South Western Avenue, Chicago, IL 60643
Retail center offering a substantially leased commercial investment profile.
Property Size23,408 SF
Price / SF$275.21
Days on Market7
Property Features for 9601 South Western Avenue
General Information
Standard status
Active
Size
23,408 SF
Property subtype
Retail
Occupancy
97%
Investment Type
Stabilized
Net Operating Income
$418,715
Additional Details
Cap Rate
6.5%
Building Details
Year Renovated
2026
Units
9
Tenancy
Multi
Listing Agency:
Matthews
Listed By:
Keegan Mulcahy · License #CA 2067187
Source:
Crexi
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 11 at 5:32AM
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 Matthews
Investment Insights
Based on property information with market context.
Beverly Plaza is a shopping center at 9601 South Western Avenue in Chicago, Illinois 60643. The property contains 23,408 square feet of retail space and is 97.91% leased.
The center carries a 6.50% cap rate, providing a concise investment overview for buyers evaluating an occupied retail property.
The center carries a 6.50% cap rate, providing a concise investment overview for buyers evaluating an occupied retail property.
Key Highlights
- 23,408‑square‑foot shopping center
- 97.91% leased
- 6.50% cap rate
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
$323,845
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
5.03%
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%
$6,476,900
$6.5M
Cap Rate 7%
$4,626,357
$4.6M
Cap Rate 9%
$3,598,278
$3.6M
Market Conditions
NOI Build-Up for 23,408 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
$505.6K $21.60/SF
− Vacancy
−$43.0K −$1.84/SF
EGI
$462.6K $19.76/SF
− OpEx
−$138.8K −$5.93/SF
NOI
$323.8K $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%
$6,476,900
Cap Rate 7%
$4,626,357
Cap Rate 9%
$3,598,278
Alternative Uses
Best Use
Retail
$4.63M
$4.05M – $5.40M
NOI $323,845 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.04M
$9.66M – $12.88M
NOI $772,576 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,565
Businesses Nearby
492k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 28%
Shops & Services 24%
Dining 19%
Groceries 14%
Walmart
Superstores
136,394 visits/mo
0.3 miles
Meijer
Groceries
67,960 visits/mo
0.4 miles
Macy's
Apparel
55,729 visits/mo
0.3 miles
McDonald's
Dining
33,822 visits/mo
0.4 miles
Five Below
Shops & Services
30,293 visits/mo
0.3 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?
Shopping center - Retail center offering a substantially leased commercial investment profile.
Where is this shopping center located?
The property is located at 9601 South Western Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $6,442,000.
What are key features of this property?
This property features: 23,408‑square‑foot shopping center; 97.91% leased; 6.50% cap rate
