Building Details

Building Size 2,000 SF

Year Built 1900

Stories 1

Units 1

Listing Agency: ASB Brokerage & Dev.

Listed By: Susie Pesa · License #475130824 Show Phone

Source: Fishmangroup

Added: Nov 17, 2025 Changed: Oct 23 Last Checked: Oct 23 at 5:15PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 2,000-square-foot storefront property at 1893 N Milwaukee Avenue is zoned MANUF. The building dates to 1900 and is offered for sale.

The Chicago property sits on Milwaukee Avenue between Armitage and North, a short walk from The 606 and the Bloomingdale Trail. Nearby businesses include restaurants, cafes, boutiques, and art spaces.

Key Highlights

• 2,000‑square‑foot storefront property
• MANUF zoning
• Building dates to 1900

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,224

Cap Rate

4.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$744,480 $744.5K

Cap Rate 7%

$531,771 $531.8K

Cap Rate 9%

$413,600 $413.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$52.8K $26.40/SF

− Vacancy

−$3.2K −$1.58/SF

EGI

$49.6K $24.82/SF

− OpEx

−$12.4K −$6.20/SF

NOI

$37.2K $18.61/SF

Area

Chicago, IL

Vacancy

6.00%

Lease Rate

$26.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$744,480

Cap Rate 7%

$531,771

Cap Rate 9%

$413,600

Alternative Uses

Best Use

Specialty Retail

$531.8K

$465.3K – $620.4K (±1% cap)

NOI $37,224 @ 7.0% cap · market cap 4.77%

Second Best

Retail

$395.3K

$345.9K – $461.2K (±1% cap)

NOI $27,670 @ 7.0% cap · market cap 3.55%

Theoretical Best

Office A

$943.0K

$825.1K – $1.10M (±1% cap)

NOI $66,010 @ 7.0% cap · market cap 8.46%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Nursing Home (Bike/Boat/Book/etc) Store Butcher Accounting Firm Catering Service Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

4,119

Businesses Nearby

152k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 42% Shops & Services 29% Groceries 21% Home Improvements & Furnishings 5%

McDonald's Dining

43,397 visits/mo 0.1 miles

Aldi Groceries

32,222 visits/mo 0.3 miles

Circle K Shops & Services

17,408 visits/mo 0.5 miles

Shell Shops & Services

11,035 visits/mo 0.5 miles

Chipotle Mexican Grill Dining

8,995 visits/mo 0.5 miles

Demographics for 60647, IL

85,631

Population

41,975

Households

2

Avg Household Size

33

Median Age

61%

College-Educated

92%

High-School Grad

4.0 sq mi

ZIP Area

21,408

Density / Sq Mi

$102,851

Median Household Income

$65,776

Median Earnings

$1,714

Median Rent

$557,300

Median Home Value

Market

Vacancy Rate% for Retail in Chicago, IL

9.1% 2019

9.2% 2020

8.8% 2021

8.1% 2022

7% 2023

6.6% 2024

7.4% 2025

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Similar Off Market Nearby

• bou•K — 1830 N Milwaukee Ave Suite C, Chicago, IL 60647
• Linda's Flowers — 2439 W Armitage Ave, Chicago, IL 60647
• Flowerlife, Inc. — 2001 N Oakley Ave, Chicago, IL 60647
• A Tree Grows In Brooklyn — 2001 N Oakley Ave, Chicago, IL 60647
• Xo Design Co. — 2101 N Western Ave, Chicago, IL 60647

Frequently Asked Questions

What type of property is this?

Storefront property - The property is zoned MANUF and dates to 1900.

Where is this storefront property located?

The property is located at 1893 N Milwaukee Avenue Chicago, IL.

What is the asking price?

The asking price for this property is $780,000.

What are key features of this property?

This property features: 2,000‑square‑foot storefront property; MANUF zoning; Building dates to 1900