Retail Corner in New Elevator
1445 W Chicago Avenue Chicago, IL 60642
New
For Sale
$749,000
COMMERCIAL - Chicago, IL
Property Size3,700 SF
Lot Size0.44 Acres
Price / SF$202.43
Days on Market3
Property Features for 1445 W Chicago Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Property condition
- Under Construction
- Zoning
- COMMR
- Standard status
- Active
- APN
- 17081010000000
- Lot size
- 0.44 Acres
Taxes and HOA fees
- Tax Year
- 2024
Utilities
- Utilities
- Natural Gas Available
- Cooling system
- Central Air
Building Details
- Year built
- 2026
- Floors in Building
- 4
- Number of units
- 1
- Flooring type
- Concrete
- Building materials
- Brick, Block, Glass
Listing Agency:
North Clybourn Group, Inc.
(773) 252-0600
Listed By:
Karen Biazar · License #471003309
(773) 252-0600
Added: Jul 22
Changed: Jul 23
Last Checked: Jul 24 at 11:06AM
MLS# 12713303
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is a newly constructed retail corner space located within a premier 18-unit new construction elevator building. The property is described as high-visibility and offers a total of 3,700 square feet, with delivery targeted for Summer 2026. The listing also notes an opportunity to purchase 6 street parking spaces, with potential up to 12.
The site is located at 1445 W Chicago Avenue in Chicago, Illinois 60642, at the intersection of Chicago Ave and Bishop, within the West Town neighborhood. The property is presented with zoning noted as COMMR and B1-2 zoning opportunities mentioned in the remarks.
The site is located at 1445 W Chicago Avenue in Chicago, Illinois 60642, at the intersection of Chicago Ave and Bishop, within the West Town neighborhood. The property is presented with zoning noted as COMMR and B1-2 zoning opportunities mentioned in the remarks.
Key Highlights
- New construction (Year built 2026) in progress with delivery planned for Summer 2026
- 18‑unit elevator building at the intersection of Chicago Ave and Bishop in Chicago’s West Town neighborhood
- Approx. 3,700 total SF with construction materials including brick, block, and glass
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $79.9k | $21.60 |
| − Vacancy | −$6.8k | −$1.84 |
| EGI | $73.1k | $19.76 |
| − OpEx | −$21.9k | −$5.93 |
| NOI | $51.2k | $13.83 |
3,700 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$731.3K
$639.9K – $853.2K
NOI $51,189 @ 7.0% cap · market cap 6.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.74M
$1.53M – $2.04M
NOI $122,118 @ 7.0% cap · market cap 16.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
First Midwest Bank ...
Bank
FAQs
What type of property is this?
Retail space - New construction retail space in an 18-unit elevator building, positioned on a corner with B1-2 zoning considerations.
Where is this retail space located?
The property is located at 1445 W Chicago Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: New construction (Year built 2026) in progress with delivery planned for Summer 2026; 18‑unit elevator building at the intersection of Chicago Ave and Bishop in Chicago’s West Town neighborhood; Approx. 3,700 total SF with construction materials including brick, block, and glass
