Two-Story? No. Two Masonry Storefront
For Sale
Contact for pricing
Pending
1122 W Bryn Mawr Ave, Chicago, IL 60660
Two one-story masonry storefront buildings with wide bays and rear alley access on a lot with about 75 feet of frontage.
Property Size10,175 SF
Lot Size0.26 Acres
Days on Market137
Property Features for 1122 W Bryn Mawr Ave
General Information
Standard status
Pending
Size
10,175 SF
Lot size
0.26 Acres
Property subtype
Mixed Use, Office, Retail
Zoning
B3-5
Investment Type
Value Add
Additional Details
Road Access
Yes
Building Details
Year Built
1913
Year Renovated
2025
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
SVN | Chicago Commercial
Listed By:
Adam Thomas · License #IL 062060446
(847) 219-6383
Source:
Crexi
Added: Apr 22
Changed: Aug 8
Last Checked: Jul 29 at 7:56AM
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.
1122–26 W. Bryn Mawr includes two separate one-story masonry storefront buildings within one combined lot. The property totals 10,175 SF and features a single-story floorplate with generous ceiling heights and wide storefront bays, supporting a flexible layout for a range of commercial uses. 1122–1124 (National Tea Company Building) was constructed in 1929, while 1126 (E. Kenner Ingal Building) dates to 1919; both are described as Late Classical Revival in style.
The buildings benefit from rear public alley access and approximately 75 feet of frontage along Bryn Mawr Avenue. The property sits directly adjacent to the Bryn Mawr CTA Red Line station, which completed a full renovation in 2025, placing the asset in a dense, transit-oriented Edgewater setting with neighborhood retail demand.
With distinct histories and a functional, adaptive-use friendly footprint, the site offers a practical foundation for retail, restaurant, food & beverage, fitness, medical, creative office, or cultural/arts use—subject to applicable approvals.
The buildings benefit from rear public alley access and approximately 75 feet of frontage along Bryn Mawr Avenue. The property sits directly adjacent to the Bryn Mawr CTA Red Line station, which completed a full renovation in 2025, placing the asset in a dense, transit-oriented Edgewater setting with neighborhood retail demand.
With distinct histories and a functional, adaptive-use friendly footprint, the site offers a practical foundation for retail, restaurant, food & beverage, fitness, medical, creative office, or cultural/arts use—subject to applicable approvals.
Key Highlights
- Two one‑story masonry storefront buildings totaling 10,175 SF on an 11,273 SF lot
- Approximately 75 feet of frontage on W. Bryn Mawr Avenue with wide storefront bays
- Rear public alley access provides flexible layout options
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
Property Profile
Current Use
Lease Details
Yes
Paved road access
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 one-story masonry storefront buildings with wide bays and rear alley access on a lot with about 75 feet of frontage.
Where is this storefront property located?
The property is located at 1122 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: Two one‑story masonry storefront buildings totaling 10,175 SF on an 11,273 SF lot; Approximately 75 feet of frontage on W. Bryn Mawr Avenue with wide storefront bays; Rear public alley access provides flexible layout options
