Single-Story Office
For Sale
Contact for pricing
1122-1126 W Bryn Mawr Ave, Chicago, IL 60660
Single-story office building with dedicated office and retail/raw space, directly adjacent to the Bryn Mawr CTA Red Line station entrance.
Property Size10,175 SF
Lot Size0.26 Acres
Price / SF$191.65
Days on Market142
Property Features for 1122-1126 W Bryn Mawr Ave
General Information
Standard status
Active
Size
10,175 SF
Lot size
0.26 Acres
Property subtype
OFFICE
Zoning
B3-5
Site & Location
Frontage
75 ft
Road Access
Yes
Public Transit
Yes
Building Details
Buildings
1
Stories
1
Building Size
10,175 SF
Listing Agency:
SVN | Chicago - Corporate
(312) 676-1866
Listed By:
Adam Thomas · License #062060446
(847) 219-6383
Source:
Moodyscre
Added: Apr 28
Changed: Sep 6
Last Checked: Sep 15 at 9:53AM
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 SVN | Chicago - Corporate
Investment Insights
Based on property information with market context.
This single-story office building sits on an 11,273 SF lot and totals 10,175 SF. The property includes approximately 5,400 SF of turnkey office space and approximately 4,775 SF of retail/raw space. The roof and HVAC are in good condition and are approximately 7 years old. For operations and service, there is rear public alley access for service and loading.
The building is directly adjacent to the Bryn Mawr CTA Red Line station entrance and is located within the National Register-listed Bryn Mawr Avenue Historic District (since 1995). The property may be eligible for Federal Historic Tax Credits on qualified rehabilitation expenditures, and it may qualify for Cook County Class L Property Tax Incentive upon final Chicago Landmark designation.
Zoned B3-5 with 5.0 FAR, the zoning allows apartments above the ground floor. A Phase I Environmental Site Assessment was completed in 2018, and an updated Phase I recommended.
The building is directly adjacent to the Bryn Mawr CTA Red Line station entrance and is located within the National Register-listed Bryn Mawr Avenue Historic District (since 1995). The property may be eligible for Federal Historic Tax Credits on qualified rehabilitation expenditures, and it may qualify for Cook County Class L Property Tax Incentive upon final Chicago Landmark designation.
Zoned B3-5 with 5.0 FAR, the zoning allows apartments above the ground floor. A Phase I Environmental Site Assessment was completed in 2018, and an updated Phase I recommended.
Key Highlights
- 10,175 SF single‑story building on an 11,273 SF lot
- ~75' of Bryn Mawr frontage directly adjacent to the CTA Red Line station entrance
- Includes ~5,400 SF turnkey office space plus ~4,775 SF retail/raw space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$140,769
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,815,380
$2.8M
Cap Rate 7%
$2,010,986
$2.0M
Cap Rate 9%
$1,564,100
$1.6M
Market Conditions
NOI Build-Up for 10,175 SF
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.
Gross rent
$219.8K $21.60/SF
− Vacancy
−$18.7K −$1.84/SF
EGI
$201.1K $19.76/SF
− OpEx
−$60.3K −$5.93/SF
NOI
$140.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,815,380
Cap Rate 7%
$2,010,986
Cap Rate 9%
$1,564,100
Alternative Uses
Best Use
Office B
$3.12M
$2.73M – $3.64M
NOI $218,315 @ 7.0% cap · market cap 11.20%
Second Best
Retail
$2.01M
$1.76M – $2.35M
NOI $140,769 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$4.80M
$4.20M – $5.60M
NOI $335,824 @ 7.0% cap · market cap 17.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,635
Businesses Nearby
Explore this area
Business Placement
Demographics for 60660, IL
42,534
Population
23,508
Households
1.8
Avg Household Size
38
Median Age
57%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
32,718
Density / Sq Mi
$66,206
Median Household Income
$46,871
Median Earnings
$1,286
Median Rent
$287,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Office building - Single-story office building with dedicated office and retail/raw space, directly adjacent to the Bryn Mawr CTA Red Line station entrance.
Where is this office building located?
The property is located at 1122-1126 W Bryn Mawr Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 10,175 SF single‑story building on an 11,273 SF lot; ~75' of Bryn Mawr frontage directly adjacent to the CTA Red Line station entrance; Includes ~5,400 SF turnkey office space plus ~4,775 SF retail/raw space
