Mixed-Use Redevelopment Land
2135 W Armitage Avenue Chicago, IL 60647
2135 W Armitage Avenue, Chicago, IL, 60647
$6,500,000
For Sale
$6,500,000
LAND - Chicago, IL
Property Size23,632 SF
Lot Size0.33 Acres
Price / SF$275.05
Days on Market22
Property Features for 2135 W Armitage Avenue
General Information
- Property type
- Land
- Property subtype
- Other
- Zoning
- MULTI
- 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
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
Listing agency
Baird & Warner
(312) 242-1000
Listed by
Peter Fotopoulos · License #471010854
(312) 265-8000
Added: Jul 1 Checked: Jul 22 at 2:06AM
MLS# 12692470
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.
Investment Insights
Based on property information with market context.
This mixed-use redevelopment parcel includes multiple existing buildings and parking lots, totaling approximately 23,632 square feet of building space. The site features a 3-story commercial mixed-use building at 2135, a 1-story commercial structure at 2137, 2-story mixed-use properties at 2139 and 2147, a partial 2-story commercial building at 2141, and a 2-story commercial property at 2145. Outdoor parking on-site accommodates 5 cars or 2 trucks.
Zoning is designated as MULTI, with RT-4 coverage for 2135, 2137, 2139, and 2147, and C1-2 coverage for 2141 and 2145. The parcel has 144 feet of frontage on W Armitage Avenue and a total land area of approximately 14,400 square feet.
Current operations include a USDA chicken processing and retail business, along with masonry 2-3 flats. The property is configured across 2135–2147 W Armitage Avenue, less than 2 blocks from the intersection of Armitage and Damen.
Zoning is designated as MULTI, with RT-4 coverage for 2135, 2137, 2139, and 2147, and C1-2 coverage for 2141 and 2145. The parcel has 144 feet of frontage on W Armitage Avenue and a total land area of approximately 14,400 square feet.
Current operations include a USDA chicken processing and retail business, along with masonry 2-3 flats. The property is configured across 2135–2147 W Armitage Avenue, less than 2 blocks from the intersection of Armitage and Damen.
Key Highlights
- Redevelopment site at 2135‑2147 W. Armitage Ave with 144 ft of frontage and 14,400 SF land area (144x101)
- Includes approximately 23,632 SF of existing building space across six buildings
- Building mix: 3‑story commercial mixed‑use at 2135; 1‑story at 2137; 2‑story mixed‑use at 2139 and 2147; partial 2‑story at 2141; 2‑story at 2145
Local Financial Insights For Mixed Use
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 | $709.0k | $30.00 |
| − Vacancy | −$70.9k | −$3.00 |
| EGI | $638.1k | $27.00 |
| − OpEx | −$239.3k | −$10.13 |
| NOI | $398.8k | $16.88 |
23,632 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Redevelopment land with 144 feet of Armitage Avenue frontage and multiple existing buildings with parking on-site.
Where is this mixed-use property located?
The property is located at 2135 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: Redevelopment site at 2135‑2147 W. Armitage Ave with 144 ft of frontage and 14,400 SF land area (144x101); Includes approximately 23,632 SF of existing building space across six buildings; Building mix: 3‑story commercial mixed‑use at 2135; 1‑story at 2137; 2‑story mixed‑use at 2139 and 2147; partial 2‑story at 2141; 2‑story at 2145
