Flexible Retail Storefront
1893 North Milwaukee Avenue Chicago, IL 60647
1893 North Milwaukee Avenue, Chicago, IL, 60647
$780,000
For Sale
$780,000
For sale storefront on Milwaukee Avenue, steps from The 606 and surrounded by restaurants, cafes, boutiques, and art spaces.
Property Size2,209 SF
Price / SF$353.10
Days on Market362
Property Features for 1893 North Milwaukee Avenue
General Information
- Standard status
- Active
- Size
- 2,209 SF
Building Details
- Year Built
- 1900
Listing agency
ASB Brokerage & Dev.
(708) 945-6411
Listed by
Susie Pesa · License #475130824
(708) 945-6411
Source
Compass
Added: Jul 26, 2025 Updated: Jul 22 at 9:09AM Checked: Jul 22 at 9:09AM
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 ASB Brokerage & Dev.
Investment Insights
Based on property information with market context.
This for-sale retail storefront at 1893 North Milwaukee Avenue is positioned for flexible neighborhood use. The listing materials describe suitability for a range of concepts, including restaurant, cafe, or bar, boutique retail, an artist gallery or studio, bicycle or motorcycle showroom/repair, and fitness or wellness services.
The property is located on Milwaukee Avenue between Armitage and North and is noted as being just steps from The 606 / Bloomingdale Trail. The surrounding area is described as home to restaurants, cafes, boutiques, and art spaces.
The seller also notes the property is available for rent. AI-generated photos are referenced in the materials for potential use visualization.
The property is located on Milwaukee Avenue between Armitage and North and is noted as being just steps from The 606 / Bloomingdale Trail. The surrounding area is described as home to restaurants, cafes, boutiques, and art spaces.
The seller also notes the property is available for rent. AI-generated photos are referenced in the materials for potential use visualization.
Key Highlights
- Storefront for sale on Milwaukee Avenue in Bucktown–Wicker Park
- Located between Armitage & North, steps from The 606 / Bloomingdale Trail
- Ideal for retail, gallery/studio, cafe/bar, fitness/wellness clinic, dental office, or bicycle/motorcycle showroom/repair
Local Financial Insights For Office B
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 | $84.8k | $38.40 |
| − Vacancy | −$21.6k | −$9.79 |
| EGI | $63.2k | $28.61 |
| − OpEx | −$15.8k | −$7.15 |
| NOI | $47.4k | $21.46 |
2,209 SF · lease $38.40/SF/yr · vacancy 25.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$677.1K
$592.5K – $789.9K
NOI $47,396 @ 7.0% cap · market cap 6.08%
Second Best
Retail
$436.6K
$382.0K – $509.4K
NOI $30,561 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$1.04M
$911.4K – $1.22M
NOI $72,908 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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Similar Off Market Nearby
- bou•K — 1830 N Milwaukee Ave Suite C, Chicago, IL 60647
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- Xo Design Co. — 2101 N Western Ave, Chicago, IL 60647
- Linda's Flowers — 2439 W Armitage Ave, Chicago, IL 60647
FAQs
What type of property is this?
Storefront property - For sale storefront on Milwaukee Avenue, steps from The 606 and surrounded by restaurants, cafes, boutiques, and art spaces.
Where is this storefront property located?
The property is located at 1893 North 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: Storefront for sale on Milwaukee Avenue in Bucktown–Wicker Park; Located between Armitage & North, steps from The 606 / Bloomingdale Trail; Ideal for retail, gallery/studio, cafe/bar, fitness/wellness clinic, dental office, or bicycle/motorcycle showroom/repair
