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3425 Dempster St 5,200 SF 100% Leased Office Building Skokie, IL 60076 $699,000 ($134.42/SF) 9.86% Cap Rate
INVESTMENT HIGHLIGHTS
- Corner
- Off-street parking
- Individual HVAC
- Post signage
- Public parking
EXECUTIVE SUMMARY
Fully leased with a 9.8% CAP Rate, 4 unit retail/office building with GREAT exposure (nearly 30,000 vehicles per day) located within the east Dempster St. business corridor in Skokie! Encompassed in this 5200 sq. ft. boutique retail/office building is 3421 (one tenant)3425 (two tenants) Dempster and 8755 Trumbull (one tenant). Each tenant has their own HVAC (forced air) and they are responsible for utilities. The building offers very flexible floorplans and has some additional storage too. The building has 7 off-street parking spaces a public parking lot to the east of this building and great signage. The roof was certified and has a brand new reflective coating. NOTE: The potential for converting this building to Mixed-Use is HIGHLY likely! See financials, photos and floor plans attached.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$100,440
|
$19.32
|
| Other Income |
$3,552
|
$0.68
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$103,992
|
$20.00
|
| Taxes |
$28,374
|
$5.46
|
| Operating Expenses |
$6,710
|
$1.29
|
| Total Expenses |
$35,084
|
$6.75
|
| Net Operating Income |
$68,908
|
$13.25
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $100,440 |
| Annual Per SF | $19.32 |
| Other Income | |
|---|---|
| Annual | $3,552 |
| Annual Per SF | $0.68 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $103,992 |
| Annual Per SF | $20.00 |
| Taxes | |
|---|---|
| Annual | $28,374 |
| Annual Per SF | $5.46 |
| Operating Expenses | |
|---|---|
| Annual | $6,710 |
| Annual Per SF | $1.29 |
| Total Expenses | |
|---|---|
| Annual | $35,084 |
| Annual Per SF | $6.75 |
| Net Operating Income | |
|---|---|
| Annual | $68,908 |
| Annual Per SF | $13.25 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Building Size
5,200 SF
Building Class
B
Year Built/Renovated
1959/2017
Price
$699,000
Price Per SF
$134.42
Cap Rate
9.86%
NOI
$68,908
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,600 SF
Building FAR
0.75
Lot Size
0.16 AC
Zoning
B-2 - Commercial
Parking
7 Spaces (1.35 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Bus Line
- Controlled Access
- Security System
- Kitchen
- Storage Space
- Central Heating
- Natural Light
- Partitioned Offices
- Drop Ceiling
- Air Conditioning
- Smoke Detector
Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (86)
PROPERTY TAXES
| Parcel Number | 10-23-203-047-0000 | Total Assessment | $115,000 |
| Land Assessment | $42,936 | Annual Taxes | $28,374 ($5.46/SF) |
| Improvements Assessment | $72,064 | Tax Year | 2024 Payable 2025 |
PROPERTY TAXES
Parcel Number
10-23-203-047-0000
Land Assessment
$42,936
Improvements Assessment
$72,064
Total Assessment
$115,000
Annual Taxes
$28,374 ($5.46/SF)
Tax Year
2024 Payable 2025
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3425 Dempster St
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