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3425 Dempster St 5,200 sq ft 100% Let Office Property Skokie, IL 60076 £522,873 (£100.55/sq ft) 9.86% Net Initial Yield
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 sq ft |
|---|---|---|
| Gross Rental Income |
£75,132
|
£14.45
|
| Other Income |
£2,657
|
£0.51
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£77,789
|
£14.96
|
| Taxes |
£21,225
|
£4.08
|
| Operating Expenses |
£5,019
|
£0.97
|
| Total Expenses |
£26,244
|
£5.05
|
| Net Operating Income |
£51,545
|
£9.91
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £75,132 |
| Annual Per sq ft | £14.45 |
| Other Income | |
|---|---|
| Annual | £2,657 |
| Annual Per sq ft | £0.51 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Effective Gross Income | |
|---|---|
| Annual | £77,789 |
| Annual Per sq ft | £14.96 |
| Taxes | |
|---|---|
| Annual | £21,225 |
| Annual Per sq ft | £4.08 |
| Operating Expenses | |
|---|---|
| Annual | £5,019 |
| Annual Per sq ft | £0.97 |
| Total Expenses | |
|---|---|
| Annual | £26,244 |
| Annual Per sq ft | £5.05 |
| Net Operating Income | |
|---|---|
| Annual | £51,545 |
| Annual Per sq ft | £9.91 |
PROPERTY FACTS
Sale Type
Investment or Owner Occupier
Property Type
Property Size
5,200 sq ft
Costar Property Class
B
Year Built/Renovated
1959/2017
Price
£522,873
Price per sq ft
£100.55
Yield
9.86%
NOI
£51,545
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
1,600 sq ft
Plot ratio
0.75
Total Plot Size
0.16 ac
Use Class
B-2 - Commercial
Parking
7 Spaces (1.35 Spaces per 1,000 sq ft Leased)
AMENITIES
- 24 Hour Access
- Bus Route
- Controlled Access
- Security System
- Kitchen
- Storage Space
- Central Heating
- Natural Light
- Partitioned Offices
- Suspended Ceilings
- Air Conditioning
- Smoke Detector
Walk Score®
Easily Walkable (81)
Bike Score®
Good for cycling (86)
PROPERTY TAXES
| Parcel Number | 10-23-203-047-0000 | Total Assessment | £86,023 |
| Land Assessment | £32,117 | Annual Taxes | £21,225 (£4.08/sq ft) |
| Improvements Assessment | £53,906 | Tax Year | 2024 Payable 2025 |
PROPERTY TAXES
Parcel Number
10-23-203-047-0000
Land Assessment
£32,117
Improvements Assessment
£53,906
Total Assessment
£86,023
Annual Taxes
£21,225 (£4.08/sq ft)
Tax Year
2024 Payable 2025
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3425 Dempster St
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