Single-Tenant Retail
1521 N Milwaukee Ave Chicago, IL 60622
1521 N Milwaukee Ave, Chicago, IL, 60622
Contact for pricing
For Sale
Contact for pricing
Single-tenant retail storefront building available for sale.
Property Size10,600 SF
Price / SF$424.53
Days on Market65
Property Features for 1521 N Milwaukee Ave
General Information
- Standard status
- Active
- Size
- 10,600 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1929
Listing agency
Greenstone Partners
(312) 234-0360
Listed by
Brewster Hague · License #IL 475.165689
Source
Crexi
Added: May 19 Updated: Jul 20 at 10:01PM Checked: Jul 22 at 4:57PM
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 Greenstone Partners
Investment Insights
Based on property information with market context.
This single-tenant retail storefront property is offered for sale in Wicker Park. The building comprises 10,600 square feet of commercial space and is presented as a single-tenant investment with a stated 7.56% cap rate.
The property address is 1521 N Milwaukee Ave, Chicago, IL 60622.
Additional details such as unit configuration, tenant use, and building improvements are not provided in the available information.
The property address is 1521 N Milwaukee Ave, Chicago, IL 60622.
Additional details such as unit configuration, tenant use, and building improvements are not provided in the available information.
Key Highlights
- Single‑tenant retail storefront building for sale
- Built in 1929
- Public remarks list a 7.56% cap rate
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $229.0k | $21.60 |
| − Vacancy | −$19.5k | −$1.84 |
| EGI | $209.5k | $19.76 |
| − OpEx | −$62.8k | −$5.93 |
| NOI | $146.6k | $13.83 |
10,600 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.09M
$1.83M – $2.44M
NOI $146,649 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.00M
$4.37M – $5.83M
NOI $349,851 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Urban Outfitters
Clothing Store
Similar For Sale Nearby
Similar Off Market Nearby
- InFlorEscence — 1001 N Western Ave, Chicago, IL 60622
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- Studio Poppy Floral Design — 955 N Ashland Ave, Chicago, IL 60622
- Linda's Flowers — 2439 W Armitage Ave, Chicago, IL 60647
FAQs
What type of property is this?
Storefront property - Single-tenant retail storefront building available for sale.
Where is this storefront property located?
The property is located at 1521 N Milwaukee Ave Chicago, IL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Single‑tenant retail storefront building for sale; Built in 1929; Public remarks list a 7.56% cap rate
