Storefront Live-Work
1415 W CHICAGO Avenue Unit C1, Chicago, IL 60642
For Sale
$275,000
An existing office layout includes a private entrance, kitchenette, and restroom with shower.
Property Size1,000 SF
Price / SF$275
Days on Market42
Property Features for 1415 W CHICAGO Avenue Unit C1
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Amenities
large storefront windows
private entrance
restroom with shower
kitchenette
Building Details
Year Built
Listing Agency:
CP2 Realty, Inc.
(773) 294-3777
Listed By:
Keith Hales · License #471012774
Source:
Joy-residential
Added: Sep 29
Changed: Nov 8
Last Checked: Nov 8 at 3:50PM
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 has a professional office buildout, 11-foot ceilings, large storefront windows, and its own entrance. The interior also includes a kitchenette and a restroom with a shower. The building dates to 2004. The layout may accommodate office, creative, wellness, retail, or other permitted commercial uses.
The property is on the Chicago Avenue corridor in West Town, near restaurants, shops, and public transportation. Additional nearby monthly parking options are available. The unit can be combined with four adjacent spaces, for approximately 5,000 square feet in total.
The property is on the Chicago Avenue corridor in West Town, near restaurants, shops, and public transportation. Additional nearby monthly parking options are available. The unit can be combined with four adjacent spaces, for approximately 5,000 square feet in total.
Key Highlights
- Approximately 1,000 SF of live‑work space
- 11' ceilings and large storefront windows
- Private entrance, kitchenette, and restroom with shower
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
$604,200
Median Home Value
Market
Average Price Trend$/SF for Live-work space in Chicago, IL
Properties on Market for Live-work space in Chicago
Vacancy Rate% for Office in Chicago, IL
Frequently Asked Questions
What type of property is this?
Live-work space - An existing office layout includes a private entrance, kitchenette, and restroom with shower.
Where is this live-work space located?
The property is located at 1415 W CHICAGO Avenue Unit 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; 11' ceilings and large storefront windows; Private entrance, kitchenette, and restroom with shower
