Retail Storefront
1316 East 53rd Street Chicago, IL 60615
1316 East 53rd Street, Chicago, IL, 60615
$4,000,000
For Sale
$4,000,000
For sale retail storefront property offered as a commercial real estate asset.
Property Size10,043 SF
Price / SF$398.29
Days on Market102
Property Features for 1316 East 53rd Street
General Information
- Standard status
- Active
- Size
- 10,043 SF
Building Details
- Year Built
- 1927
Listing agency
@properties Christie's International Real Estate
(312) 972-4381
Listed by
Kevin Rocio · License #475128895
(312) 972-4381
Source
Compass
Added: Apr 12 Updated: Jul 21 at 1:40AM Checked: Jul 21 at 6:17AM
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 @properties Christie's International Real Estate
Investment Insights
Based on property information with market context.
This for-sale retail storefront property is being marketed as a commercial retail asset. The offering includes retail space with a total property size of 10,043 square feet.
The property is located at 1316 East 53rd Street in Chicago, IL 60615. Further details on the specific unit configuration, improvements, or income terms are not provided in the available information.
Interested buyers and their representatives should review the full offering materials to confirm the current layout and any lease or occupancy details associated with the space.
The property is located at 1316 East 53rd Street in Chicago, IL 60615. Further details on the specific unit configuration, improvements, or income terms are not provided in the available information.
Interested buyers and their representatives should review the full offering materials to confirm the current layout and any lease or occupancy details associated with the space.
Key Highlights
- Retail storefront commercial property
- Built in 1927
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 | $216.9k | $21.60 |
| − Vacancy | −$18.4k | −$1.84 |
| EGI | $198.5k | $19.76 |
| − OpEx | −$59.5k | −$5.93 |
| NOI | $138.9k | $13.83 |
10,043 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.98M
$1.74M – $2.32M
NOI $138,943 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.74M
$4.14M – $5.52M
NOI $331,467 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Cleopatra Hair Designs
Hair Salon
Similar For Sale Nearby
Similar Off Market Nearby
- Hyde Park Florist — 1748 E 55th St, Chicago, IL 60615
- Cornell Florist — 1645 E 55th St, Chicago, IL 60615
FAQs
What type of property is this?
Storefront property - For sale retail storefront property offered as a commercial real estate asset.
Where is this storefront property located?
The property is located at 1316 East 53rd Street Chicago, IL.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Retail storefront commercial property; Built in 1927
