Listing Agency: Century 21 Circle Show Phone

Listed By: Mark Ahmad · License #471007186 Show Phone

Source: Exprealty

Added: Oct 14 Changed: Nov 4 Last Checked: Nov 4 at 2:35PM

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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 Century 21 Circle

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Investment Insights

Based on property information with market context.

This first-floor commercial condominium contains approximately 1,200 square feet and includes one parking space. Its Ashland Avenue setting places the unit among residential areas and businesses, including restaurants, shops, and service providers.

CTA Blue Line stations, Metra’s Clybourn Station, and several major north-side roadways are nearby. Chicago Avenue, Milwaukee Avenue, Division Street, and North Avenue provide additional connections across the city.

Key Highlights

• Approximately 1,200 square feet of first‑floor commercial space
• One parking space included
• Ashland Avenue location in the West Town/Ukrainian Village area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,602

Cap Rate

7.25%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$332,040 $332.0K

Cap Rate 7%

$237,171 $237.2K

Cap Rate 9%

$184,467 $184.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,200 SF

Gross rent

$25.9K $21.60/SF

− Vacancy

−$2.2K −$1.84/SF

EGI

$23.7K $19.76/SF

− OpEx

−$7.1K −$5.93/SF

NOI

$16.6K $13.83/SF

Area

Chicago, IL

Vacancy

8.50%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$332,040

Cap Rate 7%

$237,171

Cap Rate 9%

$184,467

Alternative Uses

Best Use

Retail

$237.2K

$207.5K – $276.7K (±1% cap)

NOI $16,602 @ 7.0% cap · market cap 7.25%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$565.8K

$495.1K – $660.1K (±1% cap)

NOI $39,606 @ 7.0% cap · market cap 17.30%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Retail space

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Adult Day Care Restaurant Bed & Breakfast Tanning Salon Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

6,803

Businesses Nearby

85k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 71% Shops & Services 28% Electronics 1%

McDonald's Dining

38,968 visits/mo 0.4 miles

BP Shops & Services

22,142 visits/mo 0.3 miles

Lou Malnati's Pizzeria Dining

9,016 visits/mo 0.4 miles

Dunkin' Donuts Dining

8,042 visits/mo 0.0 miles

Gyu-Kaku Japanese BBQ Dining

4,027 visits/mo 0.3 miles

Demographics for 60607, IL

31,816

Population

16,540

Households

1.9

Avg Household Size

31

Median Age

81%

College-Educated

97%

High-School Grad

2.3 sq mi

ZIP Area

13,833

Density / Sq Mi

$126,307

Median Household Income

$79,870

Median Earnings

$2,333

Median Rent

$494,300

Median Home Value

Market

Average Price Trend$/SF for Retail space in Chicago, IL

$223 Jul

$206 Aug

$199 Sep

$196 Oct

Properties on Market for Retail space in Chicago

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Chicago, IL

9.1% 2019

9.2% 2020

8.8% 2021

8.1% 2022

7% 2023

6.6% 2024

7.4% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - The unit includes one dedicated parking space and sits among residential, dining, retail, and service businesses.

Where is this retail space located?

The property is located at 1-953 N Ashland Ave Chicago, IL.

What is the asking price?

The asking price for this property is $229,000.

What are key features of this property?

This property features: Approximately 1,200 square feet of first‑floor commercial space; One parking space included; Ashland Avenue location in the West Town/Ukrainian Village area