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    500 N Western Ave Chicago, IL 60612

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    For Lease
    Contact for pricing

    Retail space with high visibility near public transportation.

    Property size:
    1,400 SF
    Lot size:
    0.67 Acres

    Property Features for 500 N Western Ave

    General Information

    Size
    1,400 SF
    Lot size
    0.67 Acres

    Source: Mid-America Real Estate Group | Chicago Agent Dan Tausk

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

    Overview

    Retail Space Near Western Avenue

    This retail space benefits from a strong, high-traffic corner presence and signage opportunities. It is part of a new 30-unit mixed-use development that includes condos. The property is located in close proximity to the Western Avenue Metra station, which has approximately 18,000 monthly riders and is under renovation in 2023. The available space is approximately 6,500 square feet, divisible to approximately 1,000 square feet, situated on approximately 28,000 square feet of land. Surface parking is available for approximately 12 cars. The property is suitable for coffee shops, convenience stores, and medtail uses, located in a dense, underserved trade area.
    Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6869266
    Latitude
    41.8907913

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    FAQs

    What type of property is this?
    Retail space - Retail space with high visibility near public transportation.
    Where is this retail space located?
    The property is located at 500 N Western Ave Chicago, IL.
    What are key features of this property?
    This property features: - Strong high-traffic corner presence/signage; - Part of new 30-unit mixed-use (condos); - Close proximity to Western Avenue Metra with +/-18,000 monthly riders
    (630) 954-7327
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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
    500 N Western Ave Chicago, IL 60612
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