Street-Level Retail
1805 W Irving Park Road, Chicago, IL 60613
For Sale
$399,000
At Irving Park Road and Ravenswood, the space is beside the Brown Line CTA station entrance.
Property Size1,800 SF
Price / SF$221.67
Days on Market96
Property Features for 1805 W Irving Park Road
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Corner Location
Additional Details
Floor
Currently Operating
Taxes and HOA fees
Annual Taxes
Amenities
soaring ceilings
loft-inspired design
wheelchair accessibility
abundant natural light
outstanding exposure
Building Details
Building Size
Year Built
Listing Agency:
@properties Christie's International Real Estate
(312) 520-2346
Listed By:
Kimberly Martorano
(773) 472-0200
Source:
Purveyproperties
Added: Aug 6
Changed: Nov 8
Last Checked: Nov 8 at 7:46PM
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 @properties Christie's International Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,800-square-foot retail condominium at 1805 W Irving Park Road in Chicago is configured at street level. The 2006 building’s space has high ceilings, a loft-style interior, wheelchair access and natural light. It is currently operating as a salon.
The property sits at the corner of Irving Park Road and Ravenswood, next to the Irving Park Brown Line CTA entrance. Street parking is available in front of the building, and a heated tandem parking space is offered as an option.
The property sits at the corner of Irving Park Road and Ravenswood, next to the Irving Park Brown Line CTA entrance. Street parking is available in front of the building, and a heated tandem parking space is offered as an option.
Key Highlights
- 1,800‑square‑foot street‑level retail condominium
- Corner position at Irving Park Road and Ravenswood
- Adjacent to the Irving Park Brown Line CTA entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,903
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$498,060
$498.1K
Cap Rate 7%
$355,757
$355.8K
Cap Rate 9%
$276,700
$276.7K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$38.9K $21.60/SF
− Vacancy
−$3.3K −$1.84/SF
EGI
$35.6K $19.76/SF
− OpEx
−$10.7K −$5.93/SF
NOI
$24.9K $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%
$498,060
Cap Rate 7%
$355,757
Cap Rate 9%
$276,700
Alternative Uses
Best Use
Retail
$355.8K
$311.3K – $415.1K
NOI $24,903 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$848.7K
$742.6K – $990.2K
NOI $59,409 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,856
Businesses Nearby
141k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 48%
Shops & Services 31%
Dining 19%
Home Improvements & Furnishings 3%
Trader Joe's
Groceries
34,539 visits/mo
0.2 miles
Jewel-Osco
Groceries
32,837 visits/mo
0.5 miles
Pet Supplies Plus
Shops & Services
30,736 visits/mo
0.2 miles
Popeyes Louisiana Kitchen
Dining
15,882 visits/mo
0.3 miles
Starbucks
Dining
9,653 visits/mo
0.2 miles
Demographics for 60613, IL
53,048
Population
31,263
Households
1.7
Avg Household Size
34
Median Age
75%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
23,064
Density / Sq Mi
$91,351
Median Household Income
$68,713
Median Earnings
$1,616
Median Rent
$397,800
Median Home Value
Market
Average Price Trend$/SF for Retail space in Chicago, IL
Properties on Market for Retail space in Chicago
Vacancy Rate% for Retail in Chicago, IL
Frequently Asked Questions
What type of property is this?
Retail space - At Irving Park Road and Ravenswood, the space is beside the Brown Line CTA station entrance.
Where is this retail space located?
The property is located at 1805 W Irving Park Road Chicago, IL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,800‑square‑foot street‑level retail condominium; Corner position at Irving Park Road and Ravenswood; Adjacent to the Irving Park Brown Line CTA entrance
