1667-1675 Oakton St 5,000 SF 80% Leased Retail Building Des Plaines, IL 60018 $650,000 ($130/SF) 3.25% Cap Rate

1667-1675 E OAKTON ST · DES PLAINES · VALUE-ADD RETAIL
@Properties Commercial exclusively offers a 5,000 SF five-unit retail strip on three contiguous PINs in Des Plaines (Maine Township / O'Hare submarket). Priced at $650,000 — $130/building-SF, $69/land-SF on a 9,375 SF C-3 lot.
THE PLAY
Value-add acquisition with mark-to-market upside and 0.53-FAR redevelopment optionality. Priced to land basis, not in-place yield.
IN-PLACE
4 of 5 units occupied (80%) on 1-year gross leases
In-place rents avg $11.04/SF · $55,200 GPR · NOI approx $21,137
3.25% cap on $650K list
2024 taxes $19,485 ($3.93/SF) — Maine Twp Class 5-17
MARK-TO-MARKET PATH
Dec 2024 subject lease executed at $12.60/SF
Unit 1675 actively asking $18.00/SF (live in market)
1505-1521 E Oakton signed Apr 2026 at $22.50/SF (3-yr term)
Stabilized at $16/SF anchor: NOI $44,697 · 6.88% cap
Stabilized at $18/SF (current ask): NOI $54,197 · 8.34% cap
Stabilization 12-18 months on 1-year lease rollover
REDEVELOPMENT OPTIONALITY
3 contiguous PINs (09-28-101-004, 005, 006) — subdividable
0.53 FAR on 9,375 SF C-3 lot — under-built
C-3 General Commercial: retail, office, service, restaurant by-right
1-year lease terms enable 12-month vacate runway
Multi-unit residential or condo redevelopment requires PUD
LOCATION
75 ft frontage on E Oakton (20,000 plus ADT)
O'Hare submarket · 5.3 mi to ORD
Des Plaines Metra UP-NW · 1.6 mi
I-294 / I-90 · under 3 mi
Walk Score 76 · Submarket 1-3 star asking $21.01/SF · Submarket vacancy 3.8%
SALES COMP CONTEXT
1829-1831 E Oakton (Oct 2025): $130.53/SF
1685 E Oakton (Jan 2025): $100.00/SF
1060 Busse Hwy (Dec 2025): $105.34/SF
Subject pricing reflects top-of-corridor positioning supported by 3-PIN assemblage and FAR upside
BUYER PROFILE
Owner-users seeking Des Plaines retail location, small developers underwriting redevelopment paths, or local investors with leasing capacity to execute mark-to-market plan.
Lease abstracts and rent roll available upon execution of confidentiality agreement.
EXCLUSIVELY LISTED BY
Jason Schrik · Broker · 224.235.6550 · jasonschrik@atproperties.com
Nikki Hurt · Broker / Tour Coordination · 630.802.4878 · nikkihurt@atproperties.com