Newly Finished Retail
833 N California Avenue Chicago, IL 60622
833 N California Avenue, Chicago, IL, 60622
$379,900
For Sale
Under Contract
$379,900
COMMERCIAL - Chicago, IL
Property Size2,000 SF
Lot Size0.07 Acres
Price / SF$189.95
Days on Market308
Property Features for 833 N California Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Standard status
- Active Under Contract
- APN
- 16014240630000
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 10146
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 2007
- Floors in Building
- 4
- Number of units
- 4
Listing agency
Chicagoland Brokers, Inc.
(773) 745-1000
Listed by
Ewa Zalupska · License #475138166
(773) 745-1000
Added: Sep 18, 2025 Updated: Jul 20 at 10:07PM Checked: Jul 22 at 8:06PM
MLS# 12475440
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 newly finished, never-occupied commercial condo offers approximately 2,000 square feet of flexible retail or live-work layout. The interior includes an enormous 47x22 front room, a beautifully finished 16x12 kitchen, and a large 27x17 back room featuring an entire wall of closets that could support a bedroom use or be divided into additional rooms. Hardwood floors, 1.1 baths, a dedicated laundry room, and storage are also included.
Located at 833 N California Avenue in Chicago, the property is zoned C1-2 and sits on busy California Ave, supporting a variety of business formats or a live-and-work arrangement.
With its substantial front and back room sizes, built-in closet wall, and finished kitchen, the space is designed for tenants seeking an adaptable commercial interior configuration.
Located at 833 N California Avenue in Chicago, the property is zoned C1-2 and sits on busy California Ave, supporting a variety of business formats or a live-and-work arrangement.
With its substantial front and back room sizes, built-in closet wall, and finished kitchen, the space is designed for tenants seeking an adaptable commercial interior configuration.
Key Highlights
- 2000 sq ft commercial condo with C1‑2 zoning on California Ave.
- Never occupied, newly finished space ready for immediate use.
- Suitable for a variety of businesses or a live/work arrangement.
Local Financial Insights For Mixed Use
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 | $60.0k | $30.00 |
| − Vacancy | −$6.0k | −$3.00 |
| EGI | $54.0k | $27.00 |
| − OpEx | −$20.3k | −$10.13 |
| NOI | $33.8k | $16.88 |
2,000 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$613.0K
$536.4K – $715.2K
NOI $42,912 @ 7.0% cap · market cap 11.30%
Second Best
Mixed Use
$482.1K
$421.9K – $562.5K
NOI $33,750 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$943.0K
$825.1K – $1.10M
NOI $66,010 @ 7.0% cap · market cap 17.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Newly finished commercial condo with spacious front room, kitchen, and back room, zoned C1-2 on California Ave.
Where is this retail space located?
The property is located at 833 N California Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 2000 sq ft commercial condo with C1‑2 zoning on California Ave.; Never occupied, newly finished space ready for immediate use.; Suitable for a variety of businesses or a live/work arrangement.
