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    3123 W 63Rd St Chicago, IL 60629

    Sponsored
    For Lease
    Contact for pricing

    COMMERCIAL - Chicago, IL

    Type:Retail
    Property size:
    1,500 SF
    Days on Market:
    1
    Last Refresh:
    Feb 23 at 4:06 pm

    Property Features for 3123 W 63Rd St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active
    Zoning
    RTAIL
    Size
    1,500 SF

    Utilities

    Utilities
    Natural Gas Available
    Cooling system
    Central Air

    Building Details

    Year built
    1925
    Floors in Building
    1
    Flooring type
    Vinyl
    Building materials
    Brick

    We can help!

    Listing Contact
    Manuel Torrejon-Regalado

    Keller Williams Chicago ONEChicago (312) 216-2422

    Listing agent Manuel Torrejon-Regalado (312) 730-2029

    Listing date Feb 23, 2026

    MLS# 12574721

    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.

    Learn more

    Property Insight Report

    Overview

    Reconstructed Retail/Commercial Space Available

    This 1,500 square foot retail/commercial space, located in Chicago, IL, is fully reconstructed as of 2025. The space is positioned within a strong neighborhood shopping corridor and zoned B1-1 Neighborhood Shopping District. It features a bright, open floor plan with an 8.3-foot clear ceiling height and a 12-foot drop clearance, along with expansive floor-to-ceiling storefront display windows that provide exceptional visibility and natural light. The front facade includes three raised 12-foot by 6-foot platform display areas integrated along the window line, creating a strategic merchandising zone suitable for showcasing products or positioning cafe seating. The interior has been comprehensively upgraded with all-new electrical systems (2025), including 21 strategically placed outlets and 16 new LED fixtures. Copper plumbing is installed throughout, along with a built-in kitchenette with two GFCI outlets, and a 40-gallon water heater (2025). A well-maintained HVAC system, installed in 2021 with new condensers replaced in 2025, is also present. The efficient rectangular layout supports flexible build-outs for medical or dental offices, professional service firms, boutique retail, cafe concepts, wellness studios, or specialty commercial users. An optional 1,700 square foot lower level is available for lease, offering additional space suitable for storage, prep areas, training rooms, back-office functions, or expanded operational use. The property includes one exclusive secure parking space and benefits from access to nearby CTA transit lines and multiple bus routes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Costa Azul Travel Travel Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7017025
    Latitude
    41.7787793

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    FAQs

    What type of property is this?
    Retail space - Reconstructed retail/commercial space in a strong neighborhood shopping corridor.
    Where is this retail space located?
    The property is located at 3123 W 63Rd St Chicago, IL.
    What are key features of this property?
    This property features: - Fully reconstructed in 2025 with all-new electrical, plumbing, and HVAC condensers.; - High-visibility storefront with expansive floor-to-ceiling display windows and integrated raised platform display areas.; - Flexible 1,500 SF open floor plan suitable for various uses.
    (312) 730-2029
    Request Owner's contact information
    3123 W 63Rd St Chicago, IL 60629
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    Chicago, IL 60629
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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.

    More about this property
    3123 W 63Rd St Chicago, IL 60629
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    We can help!
    Listing Contact
    Manuel Torrejon-Regalado
    Real Estate License ID: 475165475
    (312) 730-2029 (312) 216-2422
    Learn more
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