Retail Storefront with Rear
3214 W Bryn Mawr Avenue Chicago, IL 60659
3214 W Bryn Mawr Avenue, Chicago, IL, 60659
$459,000
For Sale
$459,000
Operating dry cleaners and alterations business with real estate included, plus rear parking in a retail shopping area.
Property Size2,900 SF
Price / SF$158.28
Days on Market499
Property Features for 3214 W Bryn Mawr Avenue
General Information
- Standard status
- Active
- Size
- 2,900 SF
- Property subtype
- Business Opportunity
Listing agency
Century 21 Circle
(773) 465-4200
Listed by
Mark Ahmad · License #471007186
(773) 465-4200
Source
Perillorealestategroup
Added: Mar 11, 2025 Updated: Jul 21 at 3:18PM Checked: Jul 22 at 6:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Circle
Investment Insights
Based on property information with market context.
This storefront retail property is currently operating as a dry cleaners and alterations business, with the real estate and business included in the sale. The property has an estimated building size of approximately 2,900 square feet. Rear parking spaces are available to support customer or employee access.
The property is located just west of the corner of Kedzie Ave. and Bryn Mawr Ave., within a densely populated neighborhood surrounded by retailers. It is described as being within a short distance to major roads and expressways, and within walking distance to public transportation and community colleges and schools.
The current lease calls for a monthly amount of $2,800 through December 2025. The business reported 2024 annual gross income of $160,000.
The property is located just west of the corner of Kedzie Ave. and Bryn Mawr Ave., within a densely populated neighborhood surrounded by retailers. It is described as being within a short distance to major roads and expressways, and within walking distance to public transportation and community colleges and schools.
The current lease calls for a monthly amount of $2,800 through December 2025. The business reported 2024 annual gross income of $160,000.
Key Highlights
- Dry cleaners and alterations business with real estate included, operating for decades
- Approx. 2,900 sq. ft. estimated building size with rear parking spaces
- Located just west of the corner of Kedzie Ave. and Bryn Mawr Ave., surrounded by retailers
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.6k | $21.60 |
| − Vacancy | −$5.3k | −$1.84 |
| EGI | $57.3k | $19.76 |
| − OpEx | −$17.2k | −$5.93 |
| NOI | $40.1k | $13.83 |
2,900 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$573.2K
$501.5K – $668.7K
NOI $40,121 @ 7.0% cap · market cap 8.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,714 @ 7.0% cap · market cap 20.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Storefront property - Operating dry cleaners and alterations business with real estate included, plus rear parking in a retail shopping area.
Where is this storefront property located?
The property is located at 3214 W Bryn Mawr Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Dry cleaners and alterations business with real estate included, operating for decades; Approx. 2,900 sq. ft. estimated building size with rear parking spaces; Located just west of the corner of Kedzie Ave. and Bryn Mawr Ave., surrounded by retailers
