Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Turnkey Salon & Barber Shop Title is generated by Realmo AI

    2024 W Montrose Avenue, Chicago, IL 60618

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    COMMERCIAL - Chicago, IL

    Type:Office
    Property size:
    900 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $27/SF
    Added:
    Jul 23, 2025
    Days on Market:
    298
    Last Refresh:
    May 16 at 1:06 am

    Property Features for 2024 W Montrose Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    APN
    00000000000000
    Size
    900 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Year
    2023

    Utilities

    Cooling system
    Central Air

    Building Details

    Floors in Building
    2

    We can help!

    Listing Contact
    Alia Qureshi

    Listing agent Alia Qureshi License #475204392

    Listing office Village Realty, Inc. 20950 S. Frankfort Sq Rd # C, Frankfort, IL

    Listing date Jul 23, 2025

    MLS# 12428269

    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

    • Turnkey hair salon & barber shop with 7 years of established operation
    • Prime Montrose Ave location in a high‑traffic, high‑visibility corridor
    • Low monthly rent of $1,500
    • Fully equipped with 7 styling stations, 3 salon chairs, and 2 shampoo sinks
    • Surrounded by strong residential density, retail, and restaurants
    • Includes 2 private rooms, washer & dryer, and new flooring with updated plumbing

    Overview

    This is an exceptional opportunity to own a fully equipped 900 SF hair salon and barber shop with 7 years of established operation. It is located in a high-traffic, high-visibility corridor on Montrose Avenue. The business is surrounded by strong residential density, retail, and restaurants, providing steady foot traffic and convenient customer access. Features include 7 styling stations, 3 salon chairs, 2 shampoo sinks, 2 waiting area couches, 1 TV, washer and dryer, 2 wall-mounted shelves, and 2 private rooms. The property has new flooring and updated plumbing. The monthly rent is $1,500. This well-established and reputable business is ideal for an owner-operator, experienced barber or hairstylist, or investor seeking a proven concept in a vibrant, in-demand location. The owner is open to a partnership with an experienced barber or hair stylist. It is an excellent opportunity for angel investors looking to invest in a cash-flowing beauty business with growth potential. The lot size is 0.0861 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ankedos Style Hair ... Barber Shop

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Pharmacy

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

    Similar Places Nearby

    • Albany Park Blooms — 4009 N Albany Ave Suite back, Chicago, IL 60618
    • Botanica Lucero Flowers — 4644 N Kedzie Ave, Chicago, IL 60625
    • FTD — 4012 N Kimball Ave, Chicago, IL 60618
    • Fely & Gaby Flower And Gifts Shop — 4644 N Kedzie Ave, Chicago, IL 60625
    • A Pretty Flower by A & A Floral Arts — 2334 W Lawrence Ave #100, Chicago, IL 60625

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6800906
    Latitude
    41.9616242

    Nearby Similar for Sale

    • $459,000
      3,000 SF

      Chicago Commercial Buildings For Sale

      Three commercial buildings in a busy Chicago neighborhood retail location.
      1753-1759 W 79th Street, Chicago, IL 60620
      View Details
    • $949,000
      4,055 SF

      Turnkey Restaurant Venue with PPA License

      Fully renovated restaurant with licenses and uncommitted VGT potential.
      7455 W Irving Park Road, Chicago, IL 60634
      View Details
    • $949,000
      4,055 SF

      Turnkey Restaurant Venue with Licenses

      Fully renovated restaurant with licenses and residential unit for sale.
      7455 W Irving Park Road, Chicago, IL 60634
      View Details
    • $779,900

      Chicago Commercial Brick Storefronts For Sale

      Income-producing commercial property with long-term tenants on a busy corner.
      5600 W Division Street, Chicago, IL 60651
      View Details
    • $759,000
      5,000 SF

      Prime Retail Space in Chicago

      Commercial property in a high-traffic retail district.
      4411 N Kedzie Avenue, Chicago, IL 60625
      View Details
    • $375,000
      2,980 SF

      Woodlawn Commercial Investment Opportunity

      Multi-unit commercial property in Chicago's evolving Woodlawn neighborhood.
      6501 - 6507 1/2 S Saint Lawrence Avenue, Chicago, IL 60637
      View Details
    • $625,000
      4,593 SF

      Fulton River District Commercial Loft

      Classic timber loft in Fulton River District, Chicago.
      566 W Lake Street, Chicago, IL 60661
      View Details
    • $549,900
      2,806 SF

      Wicker Park Corner Retail Building

      2,806 SF retail building in prime Wicker Park location.
      2357 W North Avenue, Chicago, IL 60647
      View Details
    • $1,300,000
      6,400 SF

      Renovated Chicago Industrial Flex Warehouse

      6,400 SF renovated industrial flex warehouse in Chicago for sale.
      3146 W Chicago Avenue, Chicago, IL 60622
      View Details
    • $649,000

      Brighton Park Commercial Strip Center

      Well-maintained commercial strip center in high-traffic location, fully leased.
      4044-48 S ARCHER Avenue, Chicago, IL 60632
      View Details
    • $349,900

      Chicago Commercial Space with Visibility

      Versatile office space ideal for medical or professional services.
      8036 S WESTERN Avenue, Chicago, IL 60620
      View Details
    • $549,000
      1,900 SF

      Southport Corridor Storefront Opportunity

      Prime commercial condo in high-traffic Chicago retail district.
      2836 N Southport Avenue, Chicago, IL 60657
      View Details

    FAQs

    What type of property is this?
    Storefront property - Established hair salon and barber shop in prime location.
    Where is this storefront property located?
    The property is located at 2024 W Montrose Avenue Chicago, IL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Turnkey hair salon & barber shop with 7 years of established operation; Prime Montrose Ave location in a high‑traffic, high‑visibility corridor; Low monthly rent of $1,500
    (708) 478-1212
    We can help!
    Listing Contact
    Alia Qureshi
    Real Estate License ID: 475204392
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2024 W Montrose Avenue, Chicago, IL 60618
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!