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    1538 N Western Ave Chicago, IL 60622

    For Sale
    $995,000

    Mixed Use - Chicago, IL

    Type:Mixed Use
    Property size:
    3,270 SF
    Days on Market:
    80
    Last Refresh:
    Dec 13 at 3:06 pm

    Property Features for 1538 N Western Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Standard status
    Active
    Zoning
    COMMR
    APN
    16012070280000
    Size
    3,270 SF

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1911
    Number of units
    3
    Architectural style
    Other

    eXp Realty, LLC (888) 574-9405 [email protected]

    Listing agent Zach Shepard (888) 574-9405 License #475153574

    Listing date Sep 25, 2025

    MLS# 12434548 Listing URL

    Copyright © 2025 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.

    Overview

    Bucktown Mixed-Use Investment Opportunity

    This mixed-use property is located in Bucktown, Chicago. The street-level retail space is currently leased to Mega Locksmith, who occupies a finished basement space that includes a bathroom, laundry, and sump. The tenant is interested in signing a 10-year lease. Above the retail space are two well-maintained 2-bedroom, 1-bathroom apartments, which are currently leased for approximately 2 years and 5 years respectively. The building has undergone major updates in the last 3-10 years, including electric, plumbing, and HVAC systems (approximately 3 years ago), office interior refresh (approximately 3 years ago), windows (approximately 5 years ago), and roof (approximately 10 years ago). An on-site alarm system is operated by the retail tenant. The property is located near The 606/Bloomingdale Trail, Damen/Milwaukee/North shops, and the Damen Blue Line. The property is surrounded by ongoing residential rehabs and retail refreshes along the corridor. The property size is 3270 square feet and is zoned COMMR.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mega Locksmith & Security Locksmith

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6875953
    Latitude
    41.9096259

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    FAQs

    What type of property is this?
    Mixed-use property - Turnkey mixed-use property in prime Bucktown location with stable income.
    Where is this mixed-use property located?
    The property is located at 1538 N Western Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: - Turnkey, mixed-use property in prime Bucktown location.; - Street-level retail space leased to long-term tenant (Mega Locksmith) with potential for a 10-year lease.; - Two well-kept and leased 2BR/1BA apartments provide immediate income.
    (888) 574-9405
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    Chicago, IL 60622
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    1538 N Western Ave Chicago, IL 60622
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