Retail Storefront
For Sale
$4,000,000
Pending
1316 East 53rd Street, Chicago, IL 60615
For sale retail storefront property offered as a commercial real estate asset.
Property Size10,043 SF
Days on Market184
Property Features for 1316 East 53rd Street
General Information
Standard status
Pending
Size
10,043 SF
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$45,881
Building Details
Year Built
1927
Stories
3
Listing Agency:
@properties Christie's International Real Estate
(312) 972-4381
Listed By:
Kevin Rocio · License #475128895
(312) 972-4381
Source:
Compass
Added: Feb 19
Changed: Aug 8
Last Checked: Jul 24 at 2:35PM
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
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$138,943
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,778,860
$2.8M
Cap Rate 7%
$1,984,900
$2.0M
Cap Rate 9%
$1,543,811
$1.5M
Market Conditions
NOI Build-Up for 10,043 SF
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.
Gross rent
$216.9K $21.60/SF
− Vacancy
−$18.4K −$1.84/SF
EGI
$198.5K $19.76/SF
− OpEx
−$59.5K −$5.93/SF
NOI
$138.9K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,778,860
Cap Rate 7%
$1,984,900
Cap Rate 9%
$1,543,811
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,095
Businesses Nearby
211k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Shops & Services 24%
Groceries 22%
Home Improvements & Furnishings 6%
Trader Joe's
Groceries
46,061 visits/mo
0.3 miles
McDonald's
Dining
31,625 visits/mo
0.3 miles
BP
Shops & Services
21,850 visits/mo
0.4 miles
Potbelly Sandwich Shop
Dining
13,436 visits/mo
0.3 miles
Elston Ace Hardware
Home Improvements & Furnishings
11,960 visits/mo
0.3 miles
Demographics for 60615, IL
43,502
Population
24,997
Households
1.7
Avg Household Size
35
Median Age
61%
College-Educated
93%
High-School Grad
2.2 sq mi
ZIP Area
19,774
Density / Sq Mi
$62,105
Median Household Income
$47,186
Median Earnings
$1,444
Median Rent
$305,200
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
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
