High-End Spa Commercial
1806-1808 N Damen Ave Chicago, IL
For Sale
Contact for pricing
Commercial condo built out as a high-end spa.
Property Size4,000 SF
Lot Size0.47 Acres
Price / SF$187.50
Days on Market959
Property Features for 1806-1808 N Damen Ave
General Information
Standard status
Active
Size
4,000 SF
Lot size
0.47 Acres
Property subtype
RETAIL
Listing Agency:
Jameson Commercial
(312) 502-5297
Listed By:
Barry Kadish · License #475148869
(312) 502-5297
Source:
Moodyscre
Added: Dec 13, 2023
Changed: Jul 10
Last Checked: Jul 21 at 4:38AM
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 Jameson Commercial
Investment Insights
Based on property information with market context.
The commercial condo at 1806-08 N. Damen, totaling 2,700 square feet, was built out as a high-end spa. The space includes a large reception area, a consultation area, and wrap-around front counters. It features five treatment rooms with sinks, and two of these rooms include marble showers. ADA washrooms are available. The exterior is notable for its architectural design, featuring floor-to-ceiling windows that wrap around to the side street. Signage opportunities are available. The property also includes multiple storage rooms, washer and dryers, custom cabinetry, and a private office. Real estate taxes are $13,136.98 for 1806 N. Damen and $12,423.41 for 1808 N. Damen, totaling $25,560.39. Assessments for the two addresses are $615.16 monthly. Parking spaces are available for additional purchase. Additionally, 1804 N. Damen, which is 1,300 square feet, can be added to the spa space for sale or lease.
Key Highlights
- High‑end spa build‑out featuring a reception, consultation area, and wrap‑around counters.
- Prime location with architectural exterior, floor‑to‑ceiling windows, and excellent signage.
- Five treatment rooms, including two with marble showers.
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 | $86.4k | $21.60 |
| − Vacancy | −$7.3k | −$1.84 |
| EGI | $79.1k | $19.76 |
| − OpEx | −$23.7k | −$5.93 |
| NOI | $55.3k | $13.83 |
4,000 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$790.6K
$691.7K – $922.3K
NOI $55,339 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,019 @ 7.0% cap · market cap 17.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Commercial condo built out as a high-end spa.
Where is this retail space located?
The property is located at 1806-1808 N Damen Ave Chicago, IL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: High‑end spa build‑out featuring a reception, consultation area, and wrap‑around counters.; Prime location with architectural exterior, floor‑to‑ceiling windows, and excellent signage.; Five treatment rooms, including two with marble showers.
