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    The Largest CRE Database in the US with Over 1 Million Listings

    Marcus Sullivan, Chicago, IL

    License ID: 475139568
    Sperry Van Ness
    Association
    Northern Illinois Commercial Assoc Of Realtors

    Service Locations

    Contact details

    Phone:
    (773) 405-4641
    Office Address:
    940 W Adams St Ste 200, Chicago, IL, 60607

    Performance

    Listings
    37

    Listings

    For Sale (9)

    View map
    • $150,000
      3,557 SF

      River West Restaurant Opportunity

      Turnkey Chicago Restaurant, 3557 SF
      0 Confidential Riv, Chicago, IL 60642
      View Details
    • $195,000
      3,000 SF

      Lincoln Square Bar & Grill

      Established bar and grill in Chicago's Lincoln Square neighborhood.
      Confidential Bar & Grill, Chicago, IL 60625
      View Details
    • $1,975,000
      8,640 SF

      West Town Corner Commercial Building

      Two-story commercial building with restaurant and office space.
      1422-1424 West Chicago Ave, Chicago, IL 60642
      View Details
    • $175,000
      2,996 SF

      Turnkey Restaurant in Hyde Park

      Fully equipped restaurant in high-traffic Hyde Park location for sale.
      1518 E Harper Ct, Chicago, IL 60637
      View Details
    • Contact for pricing
      1,660 SF

      Prime Andersonville Retail Storefront

      Highly visible 1660 SF retail space in Chicago's Andersonville neighborhood.
      5434 N Clark St, Chicago, IL 60640
      View Details
    • Contact for pricing
      1,660 SF

      Retail Storefront in Andersonville

      1660 SF retail storefront in Chicago's Andersonville neighborhood.
      5008 N Lincoln Ave, Chicago, IL 60625
      View Details
    • $715,000

      Corner Parcel in West Ridge

      10,257 SF corner parcel in Chicago's West Ridge neighborhood.
      2426 W Bryn Mawr Ave, Chicago, IL 60659
      View Details
    • $175,000
      3,000 SF

      Wicker Park Tavern Opportunity

      3,000 SF tavern with licenses in Wicker Park.
      2025 W Avenue N, Chicago, IL 01450
      View Details
    • $125,000
      4,528 SF

      West Town Restaurant & Bar

      Second-generation restaurant and bar in Chicago's vibrant West Town.
      2109 W Chicago Ave, Chicago, IL 60622
      View Details

    For Lease (28)

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    • $53 SF/Yr
      4,101 SF

      Lincoln Square Restaurant Space

      Prime 1800 sq ft Restaurant, Lincoln Square
      4539 Lincoln Ave, Chicago, IL 60625
      View Details
    • $25 SF/Yr

      Versatile Commercial Space in Chicago

      2,700 SF commercial space in Chicago's North Branch neighborhood.
      1229 North Branch St, Chicago, IL 60642
      View Details
    • $20 SF/Yr

      Bucktown Retail and Office Space

      Versatile retail, office, and commercial space in prime Bucktown location.
      2157 N Damen Ave, Chicago, IL 60647
      View Details
    • $18 SF/Yr

      Bucktown Finished Office Space Available

      Finished office space in Bucktown with highway access and parking.
      2157 N Damen Ave, Chicago, IL 60647
      View Details
    • $45 SF/Yr

      Prime Retail Space in Old Town

      805 SF commercial space in Chicago's vibrant Old Town.
      409 W North Ave, Chicago, IL 60610
      View Details
    • $33 SF/Yr

      Humboldt Park Retail Space Available

      Retail space for lease in Humboldt Park neighborhood.
      958 N California Ave, Chicago, IL 60622
      View Details
    • $28 SF/Yr

      Goose Island Loft Office Space

      Modern loft office in trendy Goose Island location for rent.
      1229 North Branch St, Chicago, IL 60642
      View Details
    • $28 SF/Yr

      Goose Island Loft Office Space

      Modern, customizable loft office in trendy Goose Island location.
      1229 North Branch St, Chicago, IL 60642
      View Details
    • $28 SF/Yr

      Goose Island Loft Office Space

      Modern, customizable office space in trendy Goose Island location.
      1229 North Branch St, Chicago, IL 60642
      View Details
    • $28 SF/Yr

      Goose Island Loft Office Space

      Loft office space in trendy Goose Island location for rent.
      1229 North Branch St, Chicago, IL 60642
      View Details
    • $28 SF/Yr

      Modern Loft Office Space Available

      Loft office space in trendy Goose Island location.
      1229 North Branch St, Chicago, IL 60642
      View Details
    • $28 SF/Yr

      Goose Island Loft Office Space

      Move-in-ready loft offices with rooftop deck and city views.
      1229 North Branch St, Chicago, IL 60642
      View Details
    • $28 SF/Yr

      Loft Office Space on Goose Island

      Modern, customizable loft office space in trendy Goose Island location.
      1229 North Branch St, Chicago, IL 60642
      View Details
    • $28 SF/Yr

      Goose Island Loft Office Space

      Modern loft office space in trendy Goose Island location.
      1229 North Branch St, Chicago, IL 60642
      View Details
    • $30 SF/Yr

      Timber Loft Flex Space Available

      3,100 SF flex space in timber loft building.
      1229 North Branch St, Chicago, IL 60642
      View Details
    • $24 SF/Yr

      Bucktown Retail or Office Space

      Retail or office space with open floor plan and natural light.
      2113 W Armitage Ave, Chicago, IL 60647
      View Details
    • $25 SF/Yr
      47,500 SF

      North Branch Commercial Space Available

      Versatile commercial space in Chicago's thriving North Branch neighborhood.
      1229 N Br St, Chicago, IL 60642
      View Details
    • $2,950 /Mo
      7,673 SF

      West Town Retail Space Available

      Versatile 1,815 SF retail space in vibrant West Town.
      2006 W Chicago Ave, Chicago, IL 60622
      View Details
    • $13,000 /Mo
      2,500 SF

      Evanston Restaurant Opportunity For Lease

      Restaurant or business opportunity in Evanston's desirable Central Street corridor.
      2945 Central St, Evanston, IL 60201
      View Details
    • $15 SF/Yr
      3,817 SF

      Retail Space Near Hotel Amenities

      Retail space with growth potential near hotel amenities.
      1110 Willow Rd, Northbrook, IL
      View Details
    • $35 SF/Yr
      1,400 SF

      Retail Space in Chicago

      Prime retail location with flexible lease terms in Chicago.
      1321-1331 W Taylor St, Chicago, IL 60607
      View Details
    • $26 SF/Yr
      4,200 SF

      West Loop Retail/Restaurant Space

      Prime Chicago location with flexible layout and restaurant infrastructure.
      306-308 S Halsted St, Chicago, IL 60661
      View Details
    • Contact for pricing
      3,000 SF

      Chicago Retail Space For Rent

      Prime Chicago retail space with flexible floor plan.
      4614-4628 N Lincoln Ave, Chicago, IL 60625
      View Details
    • $35 SF/Yr
      1,733 SF

      Renovated Retail Spaces Near Thorndale

      Newly renovated retail spaces near Thorndale Red Line Station.
      1100-1112 W Thorndale Ave, Chicago, IL 60660
      View Details
    • $25 SF/Yr
      1,235 SF

      Versatile Retail Space Available

      1,235 SF retail space with high ceilings and natural light.
      1654 W Cortland St, Chicago, IL 60622
      View Details
    • $22 SF/Yr
      15,000 SF

      Bucktown Mixed-Use Retail/Office Space

      Versatile retail and office spaces in a prime Bucktown location.
      2157 N Damen Ave, Chicago, IL 60647
      View Details
    • $45 SF/Yr
      805 SF

      Prime Old Town Retail Space

      805 SF commercial space in Chicago's vibrant Old Town.
      409 W North Ave, Chicago, IL 60610
      View Details
    • $2,500 /Mo
      760 SF

      Bronzeville Commercial Space Available

      760 SF commercial space in the heart of Bronzeville.
      215 E 31St St, Chicago, IL 60616
      View Details

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    Marcus Sullivan, Chicago, IL
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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