For Sale
Contact for pricing
1449 W Irving Park Rd, Chicago, IL 60613
Retail space
Property Size850 SF
Price / SF$151.76
Days on Market783
Property Features for 1449 W Irving Park Rd
General Information
Standard status
Active
Size
850 SF
Class
A
Property subtype
Office, Retail
Zoning
C1-2
Investment Type
Owner/User
Building Details
Year Built
2005
Listing Agency:
Imperial Realty Company
Listed By:
Theron May · License #IL 471.019986
(773) 736-6461
Source:
Crexi
Added: Aug 29, 2024
Changed: Oct 11
Last Checked: Oct 19 at 6:32AM
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 Imperial Realty Company
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Key Highlights
- High‑traffic location on Irving Park with 45,000 vehicles per day.
- Strong demographics: high population density, high average household income, and high consumer spending.
- Versatile space suitable for retail, medical, or office use.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,760
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$235,200
$235.2K
Cap Rate 7%
$168,000
$168.0K
Cap Rate 9%
$130,667
$130.7K
Market Conditions
NOI Build-Up for 850 SF
Gross rent
$18.4K $21.60/SF
− Vacancy
−$1.6K −$1.84/SF
EGI
$16.8K $19.76/SF
− OpEx
−$5.0K −$5.93/SF
NOI
$11.8K $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 Rate 5%
$235,200
Cap Rate 7%
$168,000
Cap Rate 9%
$130,667
Alternative Uses
Best Use
Office B
$260.5K
$228.0K – $304.0K
NOI $18,238 @ 7.0% cap · market cap 14.14%
Second Best
Retail
$168.0K
$147.0K – $196.0K
NOI $11,760 @ 7.0% cap · market cap 9.12%
Theoretical Best
Office A
$400.8K
$350.7K – $467.6K
NOI $28,054 @ 7.0% cap · market cap 21.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,618
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Chicago, IL
Frequently Asked Questions
Where is this retail space located?
The property is located at 1449 W Irving Park Rd Chicago, IL.
What is the asking price?
The asking price for this property is $129,000.
What are key features of this property?
This property features: High‑traffic location on Irving Park with 45,000 vehicles per day.; Strong demographics: high population density, high average household income, and high consumer spending.; Versatile space suitable for retail, medical, or office use.
