Remodeled Mixed-Use
For Sale
$375,000
1-2708 W Chicago Ave, Chicago, IL 60611
The interior combines office or bedroom rooms with a residential-style kitchen and laundry access.
Property Size1,336 SF
Price / SF$280.69
Days on Market20
Property Features for 1-2708 W Chicago Ave
General Information
Standard status
Active
Size
1,336 SF
Site & Location
Neighborhood
Near North Side
Taxes and HOA fees
Annual Taxes
$10,673
Listing Agency:
HomeSmart Realty Group
Listed By:
James Kolar · License #471004472
(708) 320-0002
Source:
Exprealty
Added: Oct 8
Changed: Oct 26
Last Checked: Oct 26 at 4:05PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HomeSmart Realty Group
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Investment Insights
Based on property information with market context.
This 1,336-square-foot mixed-use unit has three rooms configured as bedrooms or offices and two full bathrooms. The remodeled interior includes 11-foot ceilings, a kitchen with marble counters and a breakfast bar, and an ensuite bathroom with a standing shower and dual vanities. Laundry access, a separate newer furnace and water heater, and ample storage are also present. The property is being sold as-is.
Located on Chicago Avenue in West Town, the space offers access to downtown, parks, Metra, CTA, restaurants, shops, and schools. Potential uses identified for the property include retail, business support, personal services, residential occupancy, and artist live-work space.
Located on Chicago Avenue in West Town, the space offers access to downtown, parks, Metra, CTA, restaurants, shops, and schools. Potential uses identified for the property include retail, business support, personal services, residential occupancy, and artist live-work space.
Key Highlights
- 1,336 square feet with three bedrooms or offices and two full bathrooms
- Remodeled interior with 11‑foot ceilings
- Kitchen features marble counters and a breakfast bar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,665
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$573,300
$573.3K
Cap Rate 7%
$409,500
$409.5K
Cap Rate 9%
$318,500
$318.5K
Market Conditions
NOI Build-Up for 1,336 SF
Gross rent
$51.3K $38.40/SF
− Vacancy
−$13.1K −$9.79/SF
EGI
$38.2K $28.61/SF
− OpEx
−$9.6K −$7.15/SF
NOI
$28.7K $21.46/SF
Area
Chicago, IL
Vacancy
25.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$573,300
Cap Rate 7%
$409,500
Cap Rate 9%
$318,500
Alternative Uses
Best Use
Office B
$409.5K
$358.3K – $477.8K
NOI $28,665 @ 7.0% cap · market cap 7.64%
Second Best
Mixed Use
$322.1K
$281.8K – $375.8K
NOI $22,545 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$629.9K
$551.2K – $734.9K
NOI $44,094 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
26,262
Businesses Nearby
Explore this area
Business Placement
Demographics for 60611, IL
38,456
Population
28,239
Households
1.4
Avg Household Size
39
Median Age
88%
College-Educated
99%
High-School Grad
0.8 sq mi
ZIP Area
48,070
Density / Sq Mi
$124,621
Median Household Income
$92,917
Median Earnings
$2,416
Median Rent
$608,200
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Frequently Asked Questions
What type of property is this?
Mixed-use property - The interior combines office or bedroom rooms with a residential-style kitchen and laundry access.
Where is this mixed-use property located?
The property is located at 1-2708 W Chicago Ave Chicago, IL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,336 square feet with three bedrooms or offices and two full bathrooms; Remodeled interior with 11‑foot ceilings; Kitchen features marble counters and a breakfast bar
