Historic Storefront Property with Alley
For Sale
$1,950,000
1122-26 West Bryn Mawr Avenue, Chicago, IL 60660
Two single-story masonry buildings offer adaptable commercial space beside the Bryn Mawr CTA Red Line Station.
Property Size10,175 SF
Days on Market112
Property Features for 1122-26 West Bryn Mawr Avenue
General Information
Standard status
Active
Size
10,175 SF
Property subtype
Retail
Building Details
Building Size
10,175 SF
Listing Agency:
SVN | Chicago Commercial
Listed By:
Adam Thomas · License #062060446
(847) 219-6383
Source:
Svn
Added: May 14
Changed: Aug 30
Last Checked: Sep 2 at 4:15PM
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 Commercial
Investment Insights
Based on property information with market context.
The property at 1122-26 West Bryn Mawr Avenue includes two one-story masonry storefront buildings totaling 10,175 SF on an 11,273 SF lot. The buildings date to 1929 and 1919 and are classified in the Late Classical Revival style. Wide storefront bays, generous ceiling heights, and a single-level layout support adaptive reuse for retail, restaurant, food and beverage, fitness, medical, creative office, or cultural and arts uses. Existing improvements include 5,400 SF of office space and 4,775 SF of retail or raw space. The roof and HVAC systems are approximately 7 years old, and rear public alley access supports service and loading.
The property has approximately 75 feet of frontage along Bryn Mawr Avenue and sits directly beside the Bryn Mawr CTA Red Line Station, renovated in 2025. It is within the National Register-listed Bryn Mawr Avenue Historic District, established in 1995. B3-5 zoning allows a 5.0 FAR, with apartments permitted above the ground floor. Whole Foods Market, LA Fitness, Ann Sather, Metropolis Coffee, and other retailers are nearby, with access to DuSable Lake Shore Drive, Loyola University Chicago, and the Lake Michigan lakefront.
The property has approximately 75 feet of frontage along Bryn Mawr Avenue and sits directly beside the Bryn Mawr CTA Red Line Station, renovated in 2025. It is within the National Register-listed Bryn Mawr Avenue Historic District, established in 1995. B3-5 zoning allows a 5.0 FAR, with apartments permitted above the ground floor. Whole Foods Market, LA Fitness, Ann Sather, Metropolis Coffee, and other retailers are nearby, with access to DuSable Lake Shore Drive, Loyola University Chicago, and the Lake Michigan lakefront.
Key Highlights
- 10,175 SF building on an 11,273 SF lot
- Two one‑story masonry storefronts dating to 1929 and 1919
- Approximately 75 feet of Bryn Mawr Avenue frontage
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
Current Use
Location Intelligence
Trade Area within ½ mile
3,635
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Two single-story masonry buildings offer adaptable commercial space beside the Bryn Mawr CTA Red Line Station.
Where is this storefront property located?
The property is located at 1122-26 West Bryn Mawr Avenue 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 building on an 11,273 SF lot; Two one‑story masonry storefronts dating to 1929 and 1919; Approximately 75 feet of Bryn Mawr Avenue frontage
