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    Street-Level Retail Condo Space Title is generated by Realmo AI

    1720 W North Avenue, Chicago, IL 60622

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    COMMERCIAL - Chicago, IL

    Type:Retail
    Property size:
    3,670 SF
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 2:06 pm

    Property Features for 1720 W North Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    36381

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    2015
    Floors in Building
    1
    Number of units
    1
    Building materials
    Brick

    We can help!

    Listing Contact
    Austin Pearson

    Listing agent Austin Pearson License #475143968

    Listing office Pearson Realty Group 1000 N. MILWAUKEE AVE, Chicago, IL

    Listing date Jun 3, 2026

    MLS# 12667284

    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.

    HighLights

    • Approximately 3,670 SF flexible street‑level space on North Avenue in Wicker Park, divisible for multi‑tenant use
    • Zoned C1‑2, supporting a wide range of commercial uses such as retail, restaurant, medical, showroom, or creative office
    • Prominent North Avenue frontage with heavy pedestrian and vehicular exposure
    • Built in 2015 with brick construction, central air, high ceilings, and modern infrastructure
    • Includes two restrooms and a storage area
    • Transit and major access nearby: CTA Damen Blue Line Station, The 606 Trail, and Kennedy Expressway (90/94)

    Overview

    This high-visibility commercial condo offers flexible, street-level space designed to support a range of uses, including retail, restaurant, medical, showroom, or creative office. The layout is described as open-concept, with high ceilings and modern infrastructure. The space includes two restrooms and a storage area, helping accommodate day-to-day operations. The configuration is also described as divisible for multi-tenant use.

    Located at 1720 W North Avenue in Chicago’s Wicker Park area, the property is positioned along North Avenue with prominent frontage for pedestrian and vehicular exposure. The remarks cite proximity to public transportation and local destinations, including the CTA Damen Blue Line Station and The 606 Trail, as well as convenient access to the Kennedy Expressway (90/94).

    Zoned C1-2, the space is positioned for businesses looking for adaptable commercial accommodations on a heavily trafficked corridor. With multiple permitted use categories cited in the marketing remarks and a layout that can flex between single-tenant and divisible configurations, this property may fit retail brands, healthcare operators, showroom users, or creative teams seeking a street-level presence. Two restrooms and on-site storage add practical support for both customer-facing and service-oriented concepts.
    Property Profile Location Intelligence

    Current Use by Public Records

    chicago il kickboxing ... Gym & Fitness Center Cash On the Spot Llc Atm

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Similar Places Nearby

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    • Studio Poppy Floral Design — 955 N Ashland Ave, Chicago, IL 60622

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.670839
    Latitude
    41.910344

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    FAQs

    What type of property is this?
    Storefront property - Flexible street-level space suited for retail, restaurant, medical, showroom, or creative office uses with prominent frontage.
    Where is this storefront property located?
    The property is located at 1720 W North Avenue Chicago, IL.
    What are key features of this property?
    This property features: Approximately 3,670 SF flexible street‑level space on North Avenue in Wicker Park, divisible for multi‑tenant use; Zoned C1‑2, supporting a wide range of commercial uses such as retail, restaurant, medical, showroom, or creative office; Prominent North Avenue frontage with heavy pedestrian and vehicular exposure
    (773) 325-2800
    We can help!
    Listing Contact
    Austin Pearson
    Real Estate License ID: 475143968
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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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