Building Details

Year Built 2025

Listing Agency: Compass Show Phone

Listed By: Kieran Conlon Show Phone

Source: Helenoliveri

Added: Oct 8 Changed: Oct 31 Last Checked: Oct 31 at 2:19PM

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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 Compass

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Investment Insights

Based on property information with market context.

Built in 2025, this 1,350-square-foot storefront space is offered in vanilla-box condition with high ceilings. The interior includes one restroom, central air conditioning and heat, and a chase that may accommodate restaurant hood venting. B3-1.5 zoning is in place.

A loading zone sits in front of the space. Possible parking for one car is located at the rear.

Key Highlights

• 1,350 square feet with high ceilings
• Vanilla‑box condition in a 2025 construction
• B3‑1.5 zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,677

Suggested Prices Based on Cap Rates

Cap Rate 5%

$373,540 $373.5K

Cap Rate 7%

$266,814 $266.8K

Cap Rate 9%

$207,522 $207.5K

What to ask about pricing

Market Conditions

NOI Build-Up for 1,350 SF

Gross rent

$29.2K $21.60/SF

− Vacancy

−$2.5K −$1.84/SF

EGI

$26.7K $19.76/SF

− OpEx

−$8.0K −$5.93/SF

NOI

$18.7K $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%

$373,540

Cap Rate 7%

$266,814

Cap Rate 9%

$207,522

Alternative Uses

Best Use

Retail

$266.8K

$233.5K – $311.3K (±1% cap)

NOI $18,677 @ 7.0% cap · market cap 62,256.67%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$636.5K

$557.0K – $742.6K (±1% cap)

NOI $44,556 @ 7.0% cap · market cap 148,520.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Auto Parts Store Nursing Home Catering Service Building Supply Home Appliance Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

4,181

Businesses Nearby

80k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 58% Dining 26% Office Supplies 15%

Chase Bank Shops & Services

15,345 visits/mo 0.3 miles

Staples Office Supplies

12,326 visits/mo 0.2 miles

Mobil Shops & Services

7,262 visits/mo 0.1 miles

7-Eleven Shops & Services

7,133 visits/mo 0.5 miles

Extra Space Storage Shops & Services

5,849 visits/mo 0.2 miles

Demographics for 60640, IL

65,941

Population

40,850

Households

1.6

Avg Household Size

38

Median Age

63%

College-Educated

92%

High-School Grad

2.4 sq mi

ZIP Area

27,475

Density / Sq Mi

$71,030

Median Household Income

$59,264

Median Earnings

$1,374

Median Rent

$363,300

Median Home Value

Market

Vacancy Rate% for Retail in Chicago, IL

9.1% 2019

9.2% 2020

8.8% 2021

8.1% 2022

7% 2023

6.6% 2024

7.4% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - The vanilla-box interior includes central heating and air conditioning, a restroom, and a hood-venting chase.

Where is this storefront property located?

The property is located at 1619 W Lawrence Avenue #1 Chicago, IL.

What are key features of this property?

This property features: 1,350 square feet with high ceilings; Vanilla‑box condition in a 2025 construction; B3‑1.5 zoning