Corner Storefront on Chicago
For Sale
$589,000
1659 W Chicago Avenue, Chicago, IL 60622
COMMERCIAL - Chicago, IL
Property Size1,730 SF
Lot Size0.28 Acres
Price / SF$340.46
Days on Market101
Property Features for 1659 W Chicago Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
COMMR
Directions
Ashland Ave to Chicago Ave West to 1659 W. Chicago Ave
Subdivision
CHI - West Town
Standard status
Active
APN
17072030390000
Size
1,730 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
12944
Utilities
Utilities
Water Available
Cooling system
Central Air
Building Details
Year built
1984
Floors in Building
4
Number of units
1
Building materials
Brick
Listing Agency:
Chicago Real Estate Resources
(773) 327-9300
Listed By:
Michael Weaver
(773) 327-9300
Added: Apr 23
Changed: Jun 1
Last Checked: Aug 1 at 6:06AM
MLS# 12628785
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,730 square foot corner storefront is located on high-traffic Chicago Avenue. The property is zoned B1-2, offering flexible use potential. It features two ADA-compliant restrooms. The location provides strong visibility with excellent signage and branding opportunities. There are no HOA fees or assessments. The property is suited for either an owner-user or investment, supported by a dense surrounding residential base. It is an excellent candidate for a 1031 exchange. The lot size is 0.2812 acres.
Key Highlights
- High‑traffic corner storefront location on Chicago Avenue.
- B1‑2 zoning offers flexible use potential.
- Strong visibility with excellent signage/branding opportunity.**
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 | $37.4k | $21.60 |
| − Vacancy | −$3.2k | −$1.84 |
| EGI | $34.2k | $19.76 |
| − OpEx | −$10.3k | −$5.93 |
| NOI | $23.9k | $13.83 |
1,730 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$341.9K
$299.2K – $398.9K
NOI $23,934 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$815.7K
$713.7K – $951.6K
NOI $57,098 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,502
Businesses Nearby
115k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 38%
Dining 37%
Shops & Services 24%
Electronics 2%
Mariano's
Groceries
43,456 visits/mo
0.5 miles
McDonald's
Dining
38,181 visits/mo
0.5 miles
Shell
Shops & Services
7,577 visits/mo
0.3 miles
Family Dollar
Shops & Services
7,249 visits/mo
0.1 miles
Marathon Petroleum
Shops & Services
5,596 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - 1,730 SF storefront with flexible use potential for sale.
Where is this storefront property located?
The property is located at 1659 W Chicago Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: High‑traffic corner storefront location on Chicago Avenue.; B1‑2 zoning offers flexible use potential.; Strong visibility with excellent signage/branding opportunity.**
