Building Details

Year Built 1960

Listing Agency: Illinois Real Estate Partners Inc

Listed By: Deniz Cileci · License #475182545 Show Phone

Source: Saladinosells

Added: Jul 28 Changed: Sep 9 Last Checked: Oct 5 at 7:55PM

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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 Illinois Real Estate Partners Inc

Investment Insights

Based on property information with market context.

This commercial storefront is located at 3451 W Montrose Ave Unit 1 in Chicago, at the intersection of Montrose Avenue and Kimball Avenue. The property includes one car space behind the building and was constructed in 1960. The available use profile identified for the space includes boutique retail, office, salon or spa, and cafe operations. Its storefront configuration and intersection location support a range of customer-facing or service-oriented commercial applications.

Key Highlights

• Commercial storefront at 3451 W Montrose Ave Unit 1, Chicago, IL 60618
• Located at the intersection of Montrose Avenue and Kimball Avenue
• One car space positioned at the rear of the property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,065

Cap Rate

9.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$281,300 $281.3K

Cap Rate 7%

$200,929 $200.9K

Cap Rate 9%

$156,278 $156.3K

Market Conditions

NOI Build-Up for 1,000 SF

Gross rent

$22.0K $21.96/SF

− Vacancy

−$1.9K −$1.87/SF

EGI

$20.1K $20.09/SF

− OpEx

−$6.0K −$6.03/SF

NOI

$14.1K $14.07/SF

Area

ZIP 60618

Vacancy

8.50%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$281,300

Cap Rate 7%

$200,929

Cap Rate 9%

$156,278

Alternative Uses

Best Use

Retail

$200.9K

$175.8K – $234.4K (±1% cap)

NOI $14,065 @ 7.0% cap · market cap 9.07%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$436.9K

$382.3K – $509.7K (±1% cap)

NOI $30,584 @ 7.0% cap · market cap 19.73%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Zeus Massage Alternative Medicine Practice

Suggested Use

Top Pick Law Firm Skin Care Clinic Nursing Home Bed & Breakfast Tanning Salon (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,720

Businesses Nearby

34k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 91% Shops & Services 5% Home Improvements & Furnishings 4%

McDonald's Dining

28,743 visits/mo 0.4 miles

Pantry Shops & Services

1,813 visits/mo 0.5 miles

Golden Krust Caribbean Bakery and Grill Dining

1,772 visits/mo 0.5 miles

Jays True Value Home Improvements & Furnishings

1,216 visits/mo 0.4 miles

Demographics for 60618, IL

90,316

Population

41,053

Households

2.2

Avg Household Size

35

Median Age

55%

College-Educated

89%

High-School Grad

5.0 sq mi

ZIP Area

18,063

Density / Sq Mi

$101,558

Median Household Income

$60,263

Median Earnings

$1,534

Median Rent

$538,300

Median Home Value

Market

Vacancy Rate% for Retail in Chicago, IL

9.1% 2019

9.2% 2020

8.8% 2021

8.1% 2022

7% 2023

6.6% 2024

7.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Positioned where Montrose Avenue meets Kimball Avenue, the space includes a single rear parking space.

Where is this storefront property located?

The property is located at 3451 W Montrose Ave Unit 1 Chicago, IL.

What is the asking price?

The asking price for this property is $155,000.

What are key features of this property?

This property features: Commercial storefront at 3451 W Montrose Ave Unit 1, Chicago, IL 60618; Located at the intersection of Montrose Avenue and Kimball Avenue; One car space positioned at the rear of the property