Chicago Avenue Live-Work
For Sale
$275,000
1411 W CHICAGO Avenue #C1, Chicago, IL 60642
A storefront-windowed layout includes a private entry, shower-equipped restroom, and kitchenette.
Property Size1,000 SF
Price / SF$275
Days on Market33
Property Features for 1411 W CHICAGO Avenue #C1
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Live/Work
Site & Location
Neighborhood
West Town
Amenities
private entrance
restroom with shower
kitchenette
large storefront windows
Building Details
Year Built
2004
Listing Agency:
CP2 Realty, Inc.
(773) 294-3777
Listed By:
Keith Hales
Source:
Helenoliveri
Added: Sep 29
Changed: Oct 28
Last Checked: Oct 28 at 3:31PM
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 CP2 Realty, Inc.
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Investment Insights
Based on property information with market context.
This approximately 1,000-square-foot live-work unit is configured as professional office space, with a flexible interior and a private entrance. The property includes large storefront windows, a restroom with shower, and a kitchenette. The building dates to 2004.
Located along Chicago Avenue in West Town, the space is near restaurants, shops, and public transportation, with access to downtown and surrounding neighborhoods. Monthly parking options are available nearby. The unit may be combined with four adjacent spaces for approximately 5,000 square feet in total.
Located along Chicago Avenue in West Town, the space is near restaurants, shops, and public transportation, with access to downtown and surrounding neighborhoods. Monthly parking options are available nearby. The unit may be combined with four adjacent spaces for approximately 5,000 square feet in total.
Key Highlights
- Approximately 1,000 SF of live‑work space
- Currently built out for professional office use
- Storefront windows and private entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,456
Cap Rate
7.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,120
$429.1K
Cap Rate 7%
$306,514
$306.5K
Cap Rate 9%
$238,400
$238.4K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$38.4K $38.40/SF
− Vacancy
−$9.8K −$9.79/SF
EGI
$28.6K $28.61/SF
− OpEx
−$7.2K −$7.15/SF
NOI
$21.5K $21.46/SF
Area
Chicago, IL
Vacancy
25.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,120
Cap Rate 7%
$306,514
Cap Rate 9%
$238,400
Alternative Uses
Best Use
Office B
$306.5K
$268.2K – $357.6K
NOI $21,456 @ 7.0% cap · market cap 7.80%
Second Best
Mixed Use
$241.1K
$210.9K – $281.3K
NOI $16,875 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$471.5K
$412.6K – $550.1K
NOI $33,005 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,395
Businesses Nearby
Explore this area
Business Placement
Demographics for 60642, IL
21,687
Population
12,144
Households
1.8
Avg Household Size
33
Median Age
78%
College-Educated
97%
High-School Grad
1.7 sq mi
ZIP Area
12,757
Density / Sq Mi
$141,179
Median Household Income
$90,885
Median Earnings
$2,216
Median Rent
$604,200
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Frequently Asked Questions
What type of property is this?
Live-work space - A storefront-windowed layout includes a private entry, shower-equipped restroom, and kitchenette.
Where is this live-work space located?
The property is located at 1411 W CHICAGO Avenue #C1 Chicago, IL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Approximately 1,000 SF of live‑work space; Currently built out for professional office use; Storefront windows and private entrance
