Two-Level Office
For Sale
Contact for pricing
1650 W North Avenue, Chicago, IL 60622
A client-facing layout features private and open work areas, a conference room, waiting area, and kitchenette.
Property Size2,000 SF
Price / SF$0.01
Days on Market20
Property Features for 1650 W North Avenue
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
2
Property subtype
Neighborhood Storefront
Site & Location
Neighborhood
Bucktown
Utilities to Site
Yes
Additional Details
Condition
Move-in Ready
Currently Operating
Yes
Property Use
Office
Amenities
conference room
waiting area
kitchenette/coffee bar
Building Details
Year Built
1891
Stories
2
Listing Agency:
Kale Realty
(312) 939-5253
Listed By:
Sylvia Magallanes · License #475145088
(773) 759-1490
Source:
Helenoliveri
Added: Oct 13
Changed: Oct 28
Last Checked: Oct 31 at 9:54PM
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 Kale Realty
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Investment Insights
Based on property information with market context.
This 2,000-square-foot office unit spans two levels and includes private and open office areas, a conference room, a waiting area, and a kitchenette. The space has updated utilities and finishes and is currently used as a CPA office. Two parking spaces are located at the rear.
The property is at 1650 W North Avenue in Chicago. The building dates to 1891.
The property is at 1650 W North Avenue in Chicago. The building dates to 1891.
Key Highlights
- Two‑level office unit with 2,000 square feet
- Private and open office areas, conference room, and waiting area
- Kitchenette and two parking spaces at the rear
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,670
Suggested Prices Based on Cap Rates
Cap Rate 5%
$553,400
$553.4K
Cap Rate 7%
$395,286
$395.3K
Cap Rate 9%
$307,444
$307.4K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$43.2K $21.60/SF
− Vacancy
−$3.7K −$1.84/SF
EGI
$39.5K $19.76/SF
− OpEx
−$11.9K −$5.93/SF
NOI
$27.7K $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%
$553,400
Cap Rate 7%
$395,286
Cap Rate 9%
$307,444
Alternative Uses
Best Use
Office B
$613.0K
$536.4K – $715.2K
NOI $42,912 @ 7.0% cap · market cap 195,054.55%
Second Best
Retail
$395.3K
$345.9K – $461.2K
NOI $27,670 @ 7.0% cap · market cap 125,772.73%
Theoretical Best
Office A
$943.0K
$825.1K – $1.10M
NOI $66,010 @ 7.0% cap · market cap 300,045.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,551
Businesses Nearby
Explore this area
Business Placement
Demographics for 60622, IL
55,075
Population
27,630
Households
2
Avg Household Size
33
Median Age
73%
College-Educated
94%
High-School Grad
2.5 sq mi
ZIP Area
22,030
Density / Sq Mi
$124,852
Median Household Income
$76,180
Median Earnings
$1,932
Median Rent
$622,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Chicago, IL
Frequently Asked Questions
What type of property is this?
Office unit - A client-facing layout features private and open work areas, a conference room, waiting area, and kitchenette.
Where is this office unit located?
The property is located at 1650 W North Avenue Chicago, IL.
What are key features of this property?
This property features: Two‑level office unit with 2,000 square feet; Private and open office areas, conference room, and waiting area; Kitchenette and two parking spaces at the rear
