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    957 N Drake Ave Chicago, IL 60651

    For Sale
    $325,000

    Retail - Chicago, IL

    Type:Retail
    Property size:
    3,360 SF
    Days on Market:
    16
    Last Refresh:
    Dec 6 at 12:06 pm

    Property Features for 957 N Drake Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    APN
    16024160010000
    Size
    3,360 SF

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Number of units
    3
    Flooring type
    Tile
    Architectural style
    Other

    Compass Real Estate

    Listing agent Vanessa Smith (773) 466-7150

    Listing date Nov 21, 2025

    MLS# 12451066 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

    Chicago Retail Building with Income

    This commercial building, located at the corner of Augusta and Drake, offers a unique opportunity. The property includes three bathrooms, a garage space, and a fenced patio area. There is potential for three units, which must be verified with a zoning expert. One unit is currently rented to a convenience store tenant for $3000 per month, with the rent scheduled to increase to $3500 per month in January 2026. The lease term extends through May 2027. The zoning is RS-3 and has a zoning variance for the store, along with an active business license. The business license can be renewed as long as it doesn't lapse for six months. The remaining spaces are currently used by the owner for storage. The surrounding area is experiencing new construction and development, including a six-unit building across the street that is under contract and slated for renovation. The property is located blocks from Alexander Von Humboldt Park. The building has 3360 square feet of retail space. The vintage Coca Cola sign is excluded from the sale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Drake Mart Grocery Store Mr. Brown Food ... Convenience Store

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

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

    Similar Places Nearby

    Mid-Town Food Store, West Side Food Mart Inc, La Esmeralda Corp FRESH MARKET, Ecuadorian 🏬

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7148636
    Latitude
    41.8989918

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    FAQs

    What type of property is this?
    Grocery and convenience store - Commercial building with rental income and development potential.
    Where is this grocery and convenience store located?
    The property is located at 957 N Drake Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: - Income-generating property: Convenience store tenant pays $3000/month, increasing to $3500/month in January 2026.; - Potential for three units (subject to zoning verification).; - Favorable location at the corner of Augusta and Drake, with significant new construction and development in the area.
    (773) 466-7150
    Request Owner's contact information
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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
    957 N Drake Ave Chicago, IL 60651
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