Wicker Park Commercial Condo
1747 W NORTH Avenue #C Chicago, IL 60622
1747 W NORTH Avenue #C, Chicago, IL, 60622
$380,000
For Sale
$380,000
Leased commercial condo in Wicker Park with reliable income.
Property Size1,200 SF
Price / SF$316.67
Days on Market195
Property Features for 1747 W NORTH Avenue #C
General Information
- Standard status
- Active
- Size
- 1,200 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2009
Listing agency
STAR REALTY & MANAGEMENT
(312) 371-2564
Listed by
TYLER WEEKES · License #475174404
Source
Corcoran
Added: Jan 8 Updated: Jul 10 at 12:57PM Checked: Jul 21 at 5:22AM
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 STAR REALTY & MANAGEMENT
Investment Insights
Based on property information with market context.
Located at 1747 W. North Ave in Chicago's Wicker Park, this commercial condo offers an investment opportunity. The property features 1,200 square feet of space. Constructed relatively recently, the condo is currently leased to Waterman State Bank through September 30, 2028. The tenant has demonstrated commitment to the location by exercising an early 2-year lease extension. The property is positioned as a hands-off investment with a reliable income stream.
Key Highlights
- Fully leased to Waterman State Bank, a strong credit tenant, providing a secure and reliable income stream.
- Lease extends through September 30, 2028, ensuring long‑term stability.
- Tenant recently exercised an early 2‑year lease extension, demonstrating commitment to the location.
Local Financial Insights For Specialty 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 | $31.7k | $26.40 |
| − Vacancy | −$1.9k | −$1.58 |
| EGI | $29.8k | $24.82 |
| − OpEx | −$7.4k | −$6.20 |
| NOI | $22.3k | $18.61 |
1,200 SF · lease $26.40/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$319.1K
$279.2K – $372.2K
NOI $22,334 @ 7.0% cap · market cap 5.88%
Second Best
Retail
$237.2K
$207.5K – $276.7K
NOI $16,602 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$565.8K
$495.1K – $660.1K
NOI $39,606 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Waterman Bank
Bank
Similar For Sale Nearby
FAQs
What type of property is this?
Bank - Leased commercial condo in Wicker Park with reliable income.
Where is this bank located?
The property is located at 1747 W NORTH Avenue #C Chicago, IL.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Fully leased to Waterman State Bank, a strong credit tenant, providing a secure and reliable income stream.; Lease extends through September 30, 2028, ensuring long‑term stability.; Tenant recently exercised an early 2‑year lease extension, demonstrating commitment to the location.
