Mixed-Use Redevelopment
For Sale
$6,500,000
2135-47 W Armitage Avenue, Chicago, IL 60647
Commercial Sale, Chicago, IL
Property Size23,632 SF
Lot Size0.33 Acres
Price / SF$275.05
Days on Market123
Property Features for 2135-47 W Armitage Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
LEAVITT AND ARMITAGE, EAST TO ADDRESS
Subdivision
CHI - Logan Square
Standard status
Active
APN
14313040140000
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
72020
Utilities
Utilities
Water Available
Cooling system
Central Air
Building Details
Year built
1908
Floors in Building
1
Number of units
6
Building materials
Brick, Concrete, Block
Listing Agency:
Baird & Warner
(312) 242-1000
Listed By:
Peter Fotopoulos · License #471010854
(312) 265-8000
Added: Jul 1
Changed: Oct 9
Last Checked: Oct 31 at 3:06PM
MLS# 12692365
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The property comprises six buildings totaling approximately 23,632 square feet on a 14,400-square-foot site. Improvements include a three-story commercial mixed-use building, a one-story commercial structure, two two-story mixed-use buildings, a partial two-story commercial building, and another two-story commercial property. Existing construction includes brick, concrete, and block, with central air, water available, and a 1908 year built. The site currently accommodates a USDA chicken processing and retail business, masonry 2-3 flats, and outdoor parking for 5 cars or 2 trucks.
Located at 2135-2147 W. Armitage Avenue, the property has 144 feet of frontage on Armitage Avenue and sits less than 2 blocks from the intersection of Armitage and Damen. Zoning is RT-4 for 2135, 2137, 2139, and 2147, with C1-2 applying to 2141 and 2145.
Located at 2135-2147 W. Armitage Avenue, the property has 144 feet of frontage on Armitage Avenue and sits less than 2 blocks from the intersection of Armitage and Damen. Zoning is RT-4 for 2135, 2137, 2139, and 2147, with C1-2 applying to 2141 and 2145.
Key Highlights
- 14,400 square feet of land with 144 feet of frontage on Armitage Avenue
- Approximately 23,632 square feet of existing building space across six buildings
- RT‑4 zoning at 2135, 2137, 2139, and 2147
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$398,790
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,975,800
$8.0M
Cap Rate 7%
$5,697,000
$5.7M
Cap Rate 9%
$4,431,000
$4.4M
Market Conditions
NOI Build-Up for 23,632 SF
Gross rent
$709.0K $30.00/SF
− Vacancy
−$70.9K −$3.00/SF
EGI
$638.1K $27.00/SF
− OpEx
−$239.3K −$10.13/SF
NOI
$398.8K $16.88/SF
Area
Chicago, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,975,800
Cap Rate 7%
$5,697,000
Cap Rate 9%
$4,431,000
Alternative Uses
Best Use
Mixed Use
$5.70M
$4.98M – $6.65M
NOI $398,790 @ 7.0% cap · market cap 6.14%
Second Best
Retail
$4.67M
$4.09M – $5.45M
NOI $326,944 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$11.14M
$9.75M – $13.00M
NOI $779,969 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,330
Businesses Nearby
195k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 45%
Dining 32%
Groceries 16%
Electronics 2%
Barnes & Noble
Shops & Services
48,824 visits/mo
0.5 miles
McDonald's
Dining
43,397 visits/mo
0.3 miles
Aldi
Groceries
32,222 visits/mo
0.3 miles
Shell
Shops & Services
23,379 visits/mo
0.5 miles
7-Eleven
Shops & Services
5,878 visits/mo
0.2 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
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Market
Vacancy Rate% for Retail in Chicago, IL
Frequently Asked Questions
What type of property is this?
Mixed-use property - Six-building assemblage with commercial and mixed-use structures under RT-4 and C1-2 zoning.
Where is this mixed-use property located?
The property is located at 2135-47 W Armitage Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 14,400 square feet of land with 144 feet of frontage on Armitage Avenue; Approximately 23,632 square feet of existing building space across six buildings; RT‑4 zoning at 2135, 2137, 2139, and 2147
