Mixed-Use Retail and Office
For Sale
Contact for pricing
1028 Argyle St, Chicago, IL 60640
Ground-level restaurant space plus vacant second-floor offices offer flexible configuration opportunities.
Property Size18,750 SF
Price / SF$234.61
Days on Market438
Property Features for 1028 Argyle St
General Information
Standard status
Active
Size
18,750 SF
Property subtype
RETAIL
Listing Agency:
CRER
(773) 879-0713
Listed By:
Tuyen Nguyen · License #471006001
(773) 879-0713
Source:
Moodyscre
Added: May 21, 2025
Changed: Jul 29
Last Checked: Aug 1 at 1:41PM
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 CRER
Investment Insights
Based on property information with market context.
This distinctive mixed-use building includes storefront areas with ground-level restaurant space. Additional vacant spaces and offices are located on the second floor, providing room for customization and potential expansion.
The property is positioned within a lively Chicago neighborhood, supporting a retail-forward street-level presence while accommodating office use above.
Overall, the layout combines active ground-floor dining with second-floor offices and vacancies, offering a multi-level configuration for investors or operators seeking adaptable space.
The property is positioned within a lively Chicago neighborhood, supporting a retail-forward street-level presence while accommodating office use above.
Overall, the layout combines active ground-floor dining with second-floor offices and vacancies, offering a multi-level configuration for investors or operators seeking adaptable space.
Key Highlights
- Building includes ground‑level restaurant space.
- Second floor has vacant office spaces available for configuration.
- Additional vacant spaces and offices on the second floor offer flexibility for customization and expansion.
Financial Insights For Office B
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 | $720.0k | $38.40 |
| − Vacancy | −$183.6k | −$9.79 |
| EGI | $536.4k | $28.61 |
| − OpEx | −$134.1k | −$7.15 |
| NOI | $402.3k | $21.46 |
18,750 SF · lease $38.40/SF/yr · vacancy 25.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$5.75M
$5.03M – $6.71M
NOI $402,300 @ 7.0% cap · market cap 9.15%
Second Best
Specialty Retail
$4.99M
$4.36M – $5.82M
NOI $348,975 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$8.84M
$7.74M – $10.31M
NOI $618,840 @ 7.0% cap · market cap 14.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60640, IL
65,941
Population
40,850
Households
1.6
Avg Household Size
38
Median Age
63%
College-Educated
92%
High-School Grad
2.4 sq mi
ZIP Area
27,475
Density / Sq Mi
$71,030
Median Household Income
$59,264
Median Earnings
$1,374
Median Rent
$363,300
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Ground-level restaurant space plus vacant second-floor offices offer flexible configuration opportunities.
Where is this storefront property located?
The property is located at 1028 Argyle St Chicago, IL.
What is the asking price?
The asking price for this property is $4,399,000.
What are key features of this property?
This property features: Building includes ground‑level restaurant space.; Second floor has vacant office spaces available for configuration.; Additional vacant spaces and offices on the second floor offer flexibility for customization and expansion.
