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    5041 S Prairie Ave Chicago, IL 60615

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    For Lease
    $15 SF/Yr

    Free-standing retail building in a busy, densely populated area.

    Property Features for 5041 S Prairie Ave

    General Information

    Standard status
    Active

    Building Details

    Year built
    1950

    Source: NETWORK PROPERTY MANAGMENT LLC Agent NEIL HALEEM

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Retail Building in Business Corridor

    This free-standing 8,250 square foot building is situated on an 18,100 square foot lot within a busy business corridor. The parking lot provides space for up to 15 vehicles. A new truss roof with steel joists was installed in 2008. The location is in a densely populated area and is situated one-half block west of the CTA EL station. Formerly leased to Family Dollar, the building is suitable for most any retail or service business.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Meer Painting And Drywall ... Dry Wall Contractor

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6189637
    Latitude
    41.8025421

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    FAQs

    What type of property is this?
    Retail space - Free-standing retail building in a busy, densely populated area.
    Where is this retail space located?
    The property is located at 5041 S Prairie Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: - High-traffic location in a busy business corridor.; - Excellent public transportation access: CTA EL station is 1/2 block away.; - Free-standing 8,250 sq ft building on an 18,100 sq ft lot.
    (708) 873-5540
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5041 S Prairie Ave Chicago, IL 60615
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