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    1822 W Addison St Chicago, IL 60613

    For Sale
    $1,800,000

    Restaurant and retail property available for purchase.

    Property size:
    4,480 SF
    Lot size:
    0.14 Acres

    Property Features for 1822 W Addison St

    General Information

    Size
    4,480 SF
    Lot size
    0.14 Acres

    Source: Jameson Commercial Agent Mike Costanzo

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

    Overview

    Restaurant and Retail Property For Sale

    The property includes a restaurant space on the west side of the building that generates a monthly income of $4,800 under a month-to-month lease agreement with the owner of The Cork Lounge, which is located on the east side of the building. The real estate is being sold in its current condition. The 2023 real estate taxes totaled $34,527. The property size is 4,480 square feet.
    Insight Report Location Intelligence

    Current Use by Public Records

    Cork Lounge Lounge

    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.

    Similar Places Nearby

    Brix Catering and Events, Raizes Mexican Cocktail Bar + Kitchen, Sazon Chicago

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6749202
    Latitude
    41.947205

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    FAQs

    What type of property is this?
    Restaurant - Restaurant and retail property available for purchase.
    Where is this restaurant located?
    The property is located at 1822 W Addison St Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: - Restaurant tenant provides $4,800 monthly income.; - Restaurant lease is month-to-month.; - Includes the Cork Lounge business.
    (312) 929-1510
    Request Owner's contact information
    1822 W Addison St Chicago, IL 60613
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    Chicago, IL 60613
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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
    1822 W Addison St Chicago, IL 60613
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