Single-Story Medical Office
For Sale
$329,000
9629 Southwest Hwy, Oak Lawn, IL 60453
Medical office with private exam rooms, reception, storage, skylights, and parking at a mixed-use business corridor.
Property Size1,100 SF
Price / SF$299.09
Days on Market268
Property Features for 9629 Southwest Hwy
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1980
Buildings
1
Stories
1
Listing Agency:
Century 21 Circle
Listed By:
Mark Ahmad · License #471007186
(773) 983-1553
Source:
Searchillinoishomesforsale
Added: Dec 30, 2025
Changed: Sep 15
Last Checked: Sep 22 at 5:39PM
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 Century 21 Circle
Investment Insights
Based on property information with market context.
This single-story medical office at 9629 Southwest Hwy is configured for professional operations, with a reception area, three private exam rooms, two restrooms, a dedicated office, and a storage room. Three skylights provide natural light throughout the approximately 1,100-square-foot space. Front and rear parking areas serve the building, which was constructed in 1980 and is currently used as a medical office.
The property is positioned at Southwest Hwy and 95th Ave. within a dense business mixed-use corridor. Little Company of Mary and Advocate Christ Hospital are nearby, with Target, K Mart, and Jewel Foods among the surrounding retail anchors. Major roads and interstates are within a short distance, supporting access for patients, staff, and customers.
The property is positioned at Southwest Hwy and 95th Ave. within a dense business mixed-use corridor. Little Company of Mary and Advocate Christ Hospital are nearby, with Target, K Mart, and Jewel Foods among the surrounding retail anchors. Major roads and interstates are within a short distance, supporting access for patients, staff, and customers.
Key Highlights
- Approximately 1,100‑square‑foot medical office
- Three private exam rooms and two restrooms
- Reception area, dedicated office, and storage room
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
$15,167
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
4.61%
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%
$303,340
$303.3K
Cap Rate 7%
$216,671
$216.7K
Cap Rate 9%
$168,522
$168.5K
Market Conditions
NOI Build-Up for 1,100 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
$26.9K $24.48/SF
− Vacancy
−$6.7K −$6.10/SF
EGI
$20.2K $18.38/SF
− OpEx
−$5.1K −$4.60/SF
NOI
$15.2K $13.79/SF
Area
Cook County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
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%
$303,340
Cap Rate 7%
$216,671
Cap Rate 9%
$168,522
Alternative Uses
Best Use
Office B
$216.7K
$189.6K – $252.8K
NOI $15,167 @ 7.0% cap · market cap 4.61%
Second Best
Healthcare Medical
$208.2K
$182.2K – $242.9K
NOI $14,573 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$379.8K
$332.3K – $443.1K
NOI $26,585 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,395
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60453, IL
58,362
Population
23,115
Households
2.5
Avg Household Size
40
Median Age
30%
College-Educated
90%
High-School Grad
8.5 sq mi
ZIP Area
6,866
Density / Sq Mi
$82,493
Median Household Income
$48,810
Median Earnings
$1,310
Median Rent
$267,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office with private exam rooms, reception, storage, skylights, and parking at a mixed-use business corridor.
Where is this medical office space located?
The property is located at 9629 Southwest Hwy Oak Lawn, IL.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Approximately 1,100‑square‑foot medical office; Three private exam rooms and two restrooms; Reception area, dedicated office, and storage room
