Live-Work Space with Storefront
1417 W CHICAGO Avenue #C1, Chicago, IL 60642
For Sale
New
$275,000
The existing professional office layout includes a private entrance, kitchenette, and restroom with shower.
Property Size1,000 SF
Price / SF$275
Days on Market2
Property Features for 1417 W CHICAGO Avenue #C1
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Amenities
great street visibility
large storefront windows
private entrance
restroom with shower
kitchenette
clean move-in-ready interior
11' ceilings
Building Details
Year Built
Stories
Units
Listing Agency:
CP2 Realty, Inc.
Listed By:
Keith Hales · License #471012774
(773) 294-3777
Source:
Ifindpropertiesllc
Added: Nov 8
Changed: Nov 9
Last Checked: Nov 9 at 2:06AM
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 11-foot ceilings, large storefront windows, and a dedicated entrance. Interior features include a kitchenette and a restroom with a shower. The listing identifies potential for office, creative, wellness, retail, and other permitted commercial uses.
Situated on the Chicago Avenue corridor in West Town, the property is near restaurants, shops, and public transportation, with access to downtown and surrounding neighborhoods. Monthly parking options are available nearby. The unit may also be combined with four adjacent spaces for approximately 5,000 square feet in total.
Situated on the Chicago Avenue corridor in West Town, the property is near restaurants, shops, and public transportation, with access to downtown and surrounding neighborhoods. Monthly parking options are available nearby. The unit may also 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‑foot ceilings and large storefront windows
- Professional office buildout with 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 - The existing professional office layout includes a private entrance, kitchenette, and restroom with shower.
Where is this live-work space located?
The property is located at 1417 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; 11‑foot ceilings and large storefront windows; Professional office buildout with kitchenette and restroom with shower
