Chicago Retail Property For
For Sale
Contact for pricing
1909 W Grand Ave, Chicago, IL
Retail property with investment tenant and repositioning opportunity in Chicago.
Property Size16,050 SF
Lot Size0.05 Acres
Price / SF$171.34
Days on Market506
Property Features for 1909 W Grand Ave
General Information
Standard status
Active
Size
16,050 SF
Lot size
0.05 Acres
Property subtype
RETAIL
Listing Agency:
Cawley Chicago
(312) 766-4291
Listed By:
Zach Pruitt
(312) 766-4291
Source:
Moodyscre
Added: Mar 13, 2025
Changed: Jul 6
Last Checked: Jul 22 at 3:47AM
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 Cawley Chicago
Investment Insights
Based on property information with market context.
This retail property features an investment-grade anchor tenant with four years remaining on the current lease term. It offers complimentary income from a signage lease and current in-place income from a short-term lease for one of three residential units. There is an immediate opportunity to reposition the second floor for commercial use. Vacancies in the Kinzie Corridor are at 5.80% and in the Grand Ave Corridor at 5.20%, down from 10.09% and 7.30% respectively in five years. The five-year inventory is nearly unchanged, with minimal new development proposed. Asking rates are up an average of $6.00 per RSF in the Grand Ave Corridor and $12.00 per RSF in the Kinzie Corridor. The property offers the ability to increase efficiencies of the floor plan and total rentable building area. There is potential for additional advertising income on the west-facing wall, with more than 28,263 views via VPD and daily bus commuters. The property is located at 1909 W Grand Ave, Chicago, IL and has a property size of 16,050 square feet.
Key Highlights
- Investment grade anchor tenant with four years remaining on current lease.
- Immediate opportunity to reposition second floor to commercial use.
- Potential for additional advertising income on west‑facing wall (28,263+ views via VPD and Daily Bus Commuters).
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 | $346.7k | $21.60 |
| − Vacancy | −$29.5k | −$1.84 |
| EGI | $317.2k | $19.76 |
| − OpEx | −$95.2k | −$5.93 |
| NOI | $222.0k | $13.83 |
16,050 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.17M
$2.78M – $3.70M
NOI $222,049 @ 7.0% cap · market cap 8.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.57M
$6.62M – $8.83M
NOI $529,727 @ 7.0% cap · market cap 19.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,710
Businesses Nearby
107k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 41%
Dining 39%
Shops & Services 20%
Mariano's
Groceries
43,456 visits/mo
0.4 miles
McDonald's
Dining
38,181 visits/mo
0.4 miles
Shell
Shops & Services
7,577 visits/mo
0.4 miles
Marathon Petroleum
Shops & Services
5,596 visits/mo
0.5 miles
PNC Bank
Shops & Services
5,186 visits/mo
0.4 miles
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail property with investment tenant and repositioning opportunity in Chicago.
Where is this retail space located?
The property is located at 1909 W Grand Ave Chicago, IL.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Investment grade anchor tenant with four years remaining on current lease.; Immediate opportunity to reposition second floor to commercial use.; Potential for additional advertising income on west‑facing wall (28,263+ views via VPD and Daily Bus Commuters).
