Street-Level Office
For Sale
Contact for pricing
2134 West Lawrence Avenue, Chicago, IL 60625
Turnkey street-level office layout with reception, glass-partitioned offices, and kitchenette in a walkable transit corridor.
Property Size1,000 SF
Price / SF$325
Days on Market67
Property Features for 2134 West Lawrence Avenue
General Information
Standard status
Active
Size
1,000 SF
Class
B
Property subtype
Office
Zoning
B3-3
Building Details
Year Built
2008
Buildings
1
Units
1
Listing Agency:
BellStreet
(303) 731-5800
Listed By:
Scott Swanson · License #475178806
Source:
Crexi
Added: Jun 4
Changed: Aug 8
Last Checked: Aug 8 at 3:11PM
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 BellStreet
Investment Insights
Based on property information with market context.
2134 W Lawrence Avenue presents a street-level commercial storefront designed for immediate professional use. The interior includes an inviting reception area, separate glass-partitioned private offices, a convenient kitchenette, and sleek flooring. High ceilings add an open feel to the modern layout, which is configured to support both client-facing operations and day-to-day office functionality.
The property is positioned on West Lawrence Avenue and is described as highly visible. It operates under flexible B3-3 zoning. The surrounding area is characterized as highly walkable, and the listing notes proximity to the CTA Brown Line and Ravenswood Metra station.
This configuration is well suited for an owner-user seeking a turnkey office environment, including boutique medical, accounting, or professional services where private offices and a reception area are important. It also offers a baseline opportunity for an investor interested in a flexible-use storefront under B3-3 zoning. With its street-level presence and transit-adjacent setting, it supports businesses that benefit from frequent neighborhood visibility and easy customer access.
The property is positioned on West Lawrence Avenue and is described as highly visible. It operates under flexible B3-3 zoning. The surrounding area is characterized as highly walkable, and the listing notes proximity to the CTA Brown Line and Ravenswood Metra station.
This configuration is well suited for an owner-user seeking a turnkey office environment, including boutique medical, accounting, or professional services where private offices and a reception area are important. It also offers a baseline opportunity for an investor interested in a flexible-use storefront under B3-3 zoning. With its street-level presence and transit-adjacent setting, it supports businesses that benefit from frequent neighborhood visibility and easy customer access.
Key Highlights
- Built in 2008 with street‑level commercial storefront for owner‑user or investment use
- Flexible B3‑3 zoning
- Modern interior layout includes a reception area, glass‑partitioned private offices, and a kitchenette
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
$21,456
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
6.60%
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%
$429,120
$429.1K
Cap Rate 7%
$306,514
$306.5K
Cap Rate 9%
$238,400
$238.4K
Market Conditions
NOI Build-Up for 1,000 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
$38.4K $38.40/SF
− Vacancy
−$9.8K −$9.79/SF
EGI
$28.6K $28.61/SF
− OpEx
−$7.2K −$7.15/SF
NOI
$21.5K $21.46/SF
Area
Chicago, IL
Vacancy
25.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
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%
$429,120
Cap Rate 7%
$306,514
Cap Rate 9%
$238,400
Alternative Uses
Best Use
Office B
$306.5K
$268.2K – $357.6K
NOI $21,456 @ 7.0% cap · market cap 6.60%
Second Best
Healthcare Medical
$189.3K
$165.6K – $220.8K
NOI $13,248 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$471.5K
$412.6K – $550.1K
NOI $33,005 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,856
Businesses Nearby
Explore this area
Business Placement
Demographics for 60625, IL
76,525
Population
33,932
Households
2.3
Avg Household Size
36
Median Age
54%
College-Educated
87%
High-School Grad
3.8 sq mi
ZIP Area
20,138
Density / Sq Mi
$85,299
Median Household Income
$48,314
Median Earnings
$1,455
Median Rent
$396,700
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Turnkey street-level office layout with reception, glass-partitioned offices, and kitchenette in a walkable transit corridor.
Where is this office units located?
The property is located at 2134 West Lawrence Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Built in 2008 with street‑level commercial storefront for owner‑user or investment use; Flexible B3‑3 zoning; Modern interior layout includes a reception area, glass‑partitioned private offices, and a kitchenette
