Urban Retail
For Sale
$400,000
1434 W Montrose Ave, Chicago, IL 60613
Street-facing commercial space suited to retail, dining, café, service, or boutique operations in a walkable Chicago neighborhood.
Property Size1,576 SF
Price / SF$253.81
Days on Market8
Property Features for 1434 W Montrose Ave
General Information
Standard status
Active
Size
1,576 SF
Additional Details
Road Access
Yes
Building Details
Year Built
1942
Listing Agency:
Sperry Van Ness
(312) 756-7357
Listed By:
Marcus Sullivan · License #475139568
Source:
Realtopiare
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 30 at 7:56PM
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 Sperry Van Ness
Investment Insights
Based on property information with market context.
This 1,576-square-foot storefront property at 1434 W. Montrose Avenue provides a street-facing setting for retail, restaurant, café, service, and boutique concepts. Built in 1942, the property occupies a visible position along the Montrose Avenue corridor within Chicago’s Ravenswood neighborhood.
The surrounding area includes established businesses, independent retailers, destination dining, craft breweries, and residential development. Nearby CTA bus service, the Ravenswood Metra station, and the CTA Brown Line connect the corridor with downtown Chicago and surrounding neighborhoods. Neighborhood parking and bike-friendly streets add transportation options for customers and visitors.
The surrounding area includes established businesses, independent retailers, destination dining, craft breweries, and residential development. Nearby CTA bus service, the Ravenswood Metra station, and the CTA Brown Line connect the corridor with downtown Chicago and surrounding neighborhoods. Neighborhood parking and bike-friendly streets add transportation options for customers and visitors.
Key Highlights
- 1,576 SF storefront property at 1434 W. Montrose Avenue
- Built in 1942
- Located along Chicago’s Montrose Avenue corridor in Ravenswood
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
$21,804
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
5.45%
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%
$436,080
$436.1K
Cap Rate 7%
$311,486
$311.5K
Cap Rate 9%
$242,267
$242.3K
Market Conditions
NOI Build-Up for 1,576 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
$34.0K $21.60/SF
− Vacancy
−$2.9K −$1.84/SF
EGI
$31.1K $19.76/SF
− OpEx
−$9.3K −$5.93/SF
NOI
$21.8K $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%
$436,080
Cap Rate 7%
$311,486
Cap Rate 9%
$242,267
Alternative Uses
Best Use
Retail
$311.5K
$272.6K – $363.4K
NOI $21,804 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$743.1K
$650.2K – $866.9K
NOI $52,016 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,049
Businesses Nearby
93k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 37%
Groceries 35%
Office Supplies 13%
Dining 13%
Aldi
Groceries
32,487 visits/mo
0.4 miles
Staples
Office Supplies
12,326 visits/mo
0.2 miles
Mobil
Shops & Services
7,262 visits/mo
0.5 miles
7-Eleven
Shops & Services
7,133 visits/mo
0.1 miles
BP
Shops & Services
6,740 visits/mo
0.5 miles
Demographics for 60613, IL
53,048
Population
31,263
Households
1.7
Avg Household Size
34
Median Age
75%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
23,064
Density / Sq Mi
$91,351
Median Household Income
$68,713
Median Earnings
$1,616
Median Rent
$397,800
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Alice's Premier Florist and Special Event Design — 1800 W Cuyler Ave #2e, Chicago, IL 60613
- Studio AG — 1800 W Cuyler Ave, Chicago, IL 60613
- flowers by stem — 1770 W Berteau Ave Suite 303, Chicago, IL 60618
- The Flower Girl Company — 1946 W Montrose Ave, Chicago, IL 60613
- Beautyberry Designs — 4452 N Ashland Ave, Chicago, IL 60640
Frequently Asked Questions
What type of property is this?
Storefront property - Street-facing commercial space suited to retail, dining, café, service, or boutique operations in a walkable Chicago neighborhood.
Where is this storefront property located?
The property is located at 1434 W Montrose Ave Chicago, IL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,576 SF storefront property at 1434 W. Montrose Avenue; Built in 1942; Located along Chicago’s Montrose Avenue corridor in Ravenswood
