Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4815 W Irving Park Rd Chicago, IL 60641

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $18 SF/Yr

    Retail space in high-traffic Six Corners location.

    Property Features for 4815 W Irving Park Rd

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Moshe Weinberger
    Source: Exitrealty

    Listing Agency: Strauss Realty Ltd Listing Agent: Moshe Weinberger

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

    Learn more

    Overview

    High-Visibility Retail Space Available

    This retail space is located on Irving Park Road, which sees approximately 30,000 vehicles daily, in the Six Corners area at the intersection of Irving Park, Cicero, and Milwaukee, with a total traffic volume of 68,000 vehicles. The property is co-tenanted with American Mattress and T-Mobile. Nearby businesses include Ross Dress For Less, Marshalls, and Target. The surrounding area has a population of 40,735 within a 1-mile radius, with 14,492 households and an average household income of $105,439.
    Location Intelligence

    Current Use by Public Records

    GoCredit.me- Six Corners Loan Service SAIL Loans - Six ... Loan Service

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7478364
    Latitude
    41.953213

    Nearby Similar for Lease

    • Contact for pricing

      Versatile Commercial Space in Bronzeville

      Freestanding building with flexible space in a transforming neighborhood.
      5010 S State St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Loft-Style Space in Bronzeville Corridor

      Flexible commercial space in a rapidly evolving historic neighborhood.
      507 E Pershing Rd, Chicago, IL 60653
      View Details
    • Contact for pricing

      Loft-Style Space in Bronzeville Corridor

      Flexible commercial space in a rapidly evolving historic neighborhood.
      507 E Pershing Rd, Chicago, IL 60653
      View Details
    • Contact for pricing
      6,922 SF

      Loft-Style Space in Bronzeville Corridor

      Character-rich commercial space with flexibility and presence in growing Bronzeville.
      507 E Pershing Rd, Chicago, IL 60653
      View Details
    • Contact for pricing

      Bronzeville Commercial Space For Lease

      Freestanding building with flexible space in Chicago's Bronzeville neighborhood.
      5010 S State St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Bronzeville Commercial Space For Lease

      Freestanding building with flexible space in Chicago's Bronzeville neighborhood.
      5010 S State St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Chicago Office Space For Rent

      11,185 sq ft of premier office space in Bronzeville.
      5050 S State St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Historic Garland Building Office Condos

      Office condos in the heart of Chicago's business district.
      111 N Wabash Ave, Chicago, IL 60602
      View Details
    • Contact for pricing
      88,427 SF

      Roseland Medical Center Office Space

      Second-generation medical office space in established Chicago medical campus.
      134 W 111Th St, Chicago, IL 60628
      View Details
    • Contact for pricing

      Historic Garland Building Office Condos

      Office condos in the heart of Chicago's business district.
      111 N Wabash Ave, Chicago, IL 60602
      View Details
    • Contact for pricing
      4,792 SF

      Medical Office Space Available

      Equipped medical office suite for lease in Chicago.
      7107 W Belmont Ave, Chicago, IL 60634
      View Details
    • Contact for pricing

      Southport Corridor Retail Space Available

      Bright retail space in Chicago's Southport Corridor, near Blaine Elementary.
      3827 N Southport Ave, Chicago, IL 60613
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space in high-traffic Six Corners location.
    Where is this retail space located?
    The property is located at 4815 W Irving Park Rd Chicago, IL.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: - High traffic volume: 68,000 vehicles daily at Irving Park/Cicero/Milwaukee intersection.; - Excellent visibility on Irving Park Road (30,000 vehicles daily).; - Located in the Six Corners retail district.
    (773) 736-3600
    Request Owner's contact information
    4815 W Irving Park Rd Chicago, IL 60641
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4815 W Irving Park Rd
    Chicago, IL 60641
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    4815 W Irving Park Rd Chicago, IL 60641
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Moshe Weinberger
    Real Estate License ID: 475183341
    (773) 736-3600
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!