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    505 S Greenwood Ave Chicago, IL 60653

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    For Lease
    Contact for pricing

    Retail space located steps from Chicago's iconic Navy Pier.

    Property size:
    7,651 SF
    Lot size:
    2.69 Acres

    Property Features for 505 S Greenwood Ave

    General Information

    Size
    7,651 SF
    Lot size
    2.69 Acres

    Source: CRER Agent Tuyen Nguyen, CCIM

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

    Overview

    Retail Space Near Navy Pier

    This retail space is located just steps from the iconic Lake Point Tower and enjoys proximity to historic Navy Pier. Navy Pier draws nearly nine million visitors annually. The pier spans 3,300 linear feet and covers over 50 acres along Lake Michigan. It features a dynamic calendar of events, including free public programs, live music, theater and dance performances, art exhibits, cultural celebrations, lake cruises, and a world-class children’s museum. Visitors also enjoy diverse dining and shopping options, as well as spectacular summer fireworks displays. The property offers 7,651 square feet of space.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply 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
    -87.5992333
    Latitude
    41.817105

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    FAQs

    What type of property is this?
    Retail space - Retail space located steps from Chicago's iconic Navy Pier.
    Where is this retail space located?
    The property is located at 505 S Greenwood Ave Chicago, IL.
    What are key features of this property?
    This property features: - Proximity to historic Navy Pier; - Steps from Lake Point Tower; - Access to diverse dining and shopping options
    (773) 879-0713
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    Chicago, IL 60653
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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
    505 S Greenwood Ave Chicago, IL 60653
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