3421 Dempster StSkokie, IL 60076

Property Details for 3421 Dempster St

Year built

1956

Lot size

0.16 AC

Property type

Retail space

Property subtype

Storefront properties

APN

10-23-203-047

APU

1023203047

Description

This exceptional 5,200 square foot building presents a compelling value-add opportunity in Skokie's vibrant east Dempster Street business corridor. The property, encompassing 3421-25 Dempster and 8755 Trumbull, offers significant potential for conversion to a mixed-use development. Currently configured as a boutique retail/office building, it features highly flexible floor plans and ample storage space. The building is comprised of three separate units. Two units are currently available for lease: a 1,400+ square foot space at 3425 Dempster Street (first floor) and a 1,600 square foot space at 8755 Trumbull Avenue. The remaining units are tenant-occupied. Each unit boasts its own forced-air HVAC system, with tenants responsible for their respective utilities. Seven off-street parking spaces are provided, supplemented by a nearby public parking lot. The property benefits from a recently certified roof featuring a brand-new reflective coating, ensuring long-term cost efficiency. This prime location and the building's adaptable layout make it an ideal investment for discerning buyers seeking a strong return on investment. The high likelihood of mixed-use conversion further enhances its appeal and future potential.

• CAP approach

  CAP return

  Valuation

  6%

  $3,166,489

  6.5%

  $2,922,913

  7%

  $2,714,134

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,348,814

  Geo Method

  $2,348,814

• Alternative Use

  Use

  Valuation

  Residential

  $2,465,586

  Hospitality

  $2,258,464

  Educational

  $1,879,016

  Medical

  $1,943,638

  Retail

  $2,922,913

Location Insight

City

Skokie

County

Cook

State

Illinois

Latitude

42.0406

Longitude

-87.7143

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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