Wicker Park Commercial Property For
For Sale
$1,449,950
1910 W North Avenue, Chicago, IL 60622
5,185 SF split-level commercial property in Wicker Park/Bucktown corridor.
Property Size5,185 SF
Price / SF$279.64
Days on Market147
Property Features for 1910 W North Avenue
General Information
Standard status
Active
Size
5,185 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$25,155
Amenities
Central air
Central Air Cooling
Building Details
Year Built
1910
Listing Agency:
KAWASH GROUP
(630) 337-9126
Listed By:
NADER KAWASH
Source:
Corcoran
Added: Mar 27
Changed: Aug 19
Last Checked: Aug 20 at 6:00AM
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 KAWASH GROUP
Investment Insights
Based on property information with market context.
This 5,185 square foot split-level commercial property is located on W North Ave in Chicago's Wicker Park / Bucktown area. The property offers frontage and street presence along an active retail corridor. The location is surrounded by residential housing, retailers, restaurants, and neighborhood activity, making it suitable for commercial users. It is suited for an owner-user, investor, or future occupant seeking storefront presence. Potential uses include boutique retail, fitness studio, wellness concept, spa, showroom, medical / med spa, neighborhood service use, and other commercial concepts.
Key Highlights
- Prime location on W North Ave in the heart of Chicago's Wicker Park / Bucktown corridor.
- 5,185 SF split‑level commercial property suitable for owner‑user, investor, or future occupant.
- Strong frontage, excellent street presence, and high exposure along a busy retail corridor.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$71,733
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,434,660
$1.4M
Cap Rate 7%
$1,024,757
$1.0M
Cap Rate 9%
$797,033
$797.0K
Market Conditions
NOI Build-Up for 5,185 SF
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.
Gross rent
$112.0K $21.60/SF
− Vacancy
−$9.5K −$1.84/SF
EGI
$102.5K $19.76/SF
− OpEx
−$30.7K −$5.93/SF
NOI
$71.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,434,660
Cap Rate 7%
$1,024,757
Cap Rate 9%
$797,033
Alternative Uses
Best Use
Retail
$1.02M
$896.7K – $1.20M
NOI $71,733 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.44M
$2.14M – $2.85M
NOI $171,130 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,788
Businesses Nearby
357k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 27%
Dining 27%
Shops & Services 21%
Apparel 9%
Jewel-Osco
Groceries
65,395 visits/mo
0.4 miles
Barnes & Noble
Shops & Services
48,824 visits/mo
0.2 miles
Aldi
Groceries
32,222 visits/mo
0.4 miles
Lowe's
Home Improvements & Furnishings
31,134 visits/mo
0.4 miles
Jeni's Splendid Ice Creams
Dining
11,621 visits/mo
0.1 miles
Demographics for 60622, IL
55,075
Population
27,630
Households
2
Avg Household Size
33
Median Age
73%
College-Educated
94%
High-School Grad
2.5 sq mi
ZIP Area
22,030
Density / Sq Mi
$124,852
Median Household Income
$76,180
Median Earnings
$1,932
Median Rent
$622,900
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - 5,185 SF split-level commercial property in Wicker Park/Bucktown corridor.
Where is this storefront property located?
The property is located at 1910 W North Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,449,950.
What are key features of this property?
This property features: Prime location on W North Ave in the heart of Chicago's Wicker Park / Bucktown corridor.; 5,185 SF split‑level commercial property suitable for owner‑user, investor, or future occupant.; Strong frontage, excellent street presence, and high exposure along a busy retail corridor.
