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    1964 W Lawrence Ave Chicago, IL 60640

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    For Sale
    $849,000

    Fully leased commercial space with renovated apartment near public transit.

    Property size:
    3,200 SF
    Lot size:
    0.85 Acres

    Property Features for 1964 W Lawrence Ave

    General Information

    Size
    3,200 SF
    Lot size
    0.85 Acres

    Source: @Properties | Chicago (North) Agent Dylan Carrigan

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

    Overview

    Leased Commercial Space with Apartment

    This property features a fully leased commercial space of 3200 square feet. The existing kitchen includes black iron, a 16 ft. hood, two walk-in coolers, and a three-compartment sink. There is ample space for storage, and the entire back room can be converted into a cooler for wholesale work or large prep. The dining area includes two ADA bathrooms with double stalls. The second level contains a recently renovated large 3-bedroom, 1-bathroom apartment with long-term tenants and a rear outdoor patio. The building runs lot line to lot line. The property is located near new developments, including Devry's new campus and numerous new, luxury residential units. It is situated on Lawrence, just east of Damen, 0.2 miles from the Damen Brown Line CTA Station and 0.2 miles from the Ravenswood Metra Station, with multiple bus stops and Divvy stations nearby, and close access to Lake Shore Drive. Area tenants include Goundswell Coffee Roasters, CVS, Wendy's, Rock N Roll Vintage Chicago Guitar Shop, Chase Bank, Mariano's, and Sears Auto Center.
    Insight Report Location Intelligence

    Current Use by Public Records

    Sweet Moon Bakery Chicago Kitchen Remodeler ... Remodeler

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6787352
    Latitude
    41.969046

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    FAQs

    What type of property is this?
    Retail space - Fully leased commercial space with renovated apartment near public transit.
    Where is this retail space located?
    The property is located at 1964 W Lawrence Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $849,000.
    What are key features of this property?
    This property features: - Fully leased commercial space (3200 sf) with existing kitchen including black iron, 16 ft. hood, two walk-in coolers, and three-compartment sink.; - Recently renovated 3BD/1BA apartment with long-term tenants and rear outdoor patio.; - **Excellent location**: 0.2 miles to Damen Brown Line CTA & Ravenswood Metra, close to bus stops, Divvy stations, and Lake Shore Drive.
    (773) 772-0200
    Request Owner's contact information
    1964 W Lawrence Ave Chicago, IL 60640
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    Chicago, IL 60640
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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
    1964 W Lawrence Ave Chicago, IL 60640
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