Retail Corner Site with Existing
2207-2214 W Ogden Avenue Chicago, IL 60612
New
For Sale
$2,495,000
High-visibility hard-corner site with an existing 5,000 SF building and flexible PD-30 zoning.
Property Size5,000 SF
Lot Size0.38 Acres
Price / SF$499
Days on Market2
Property Features for 2207-2214 W Ogden Avenue
General Information
- Standard status
- Active
- Size
- 5,000 SF
- Lot size
- 0.38 Acres
- Property subtype
- Retail
Listing Agency:
Troy Companies
(630) 853-1313
Listed By:
Peter Karlis · License #471018214
(630) 853-1313
Source:
Troyrealtyltd
Added: Jul 23
Changed: Jul 24
Last Checked: Jul 24 at 5:18AM
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 Troy Companies
Investment Insights
Based on property information with market context.
This high-visibility hard-corner property is offered for sale or ground lease and includes approximately 16,639 SF of land with an existing 5,000 SF building. The building has been home to the longtime Chicago establishment Lulu's Hot Dogs for over 50 years, and the tenant is scheduled to vacate upon closing.
The site is located at a signalized intersection of Ogden Ave and Taylor Street and benefits from a traffic count of over 19,000 VPD. It is positioned as a flexible pad site for retail development under PD-30 zoning.
Available on either a sale or ground lease basis, the property is well suited for buyers or developers seeking a signalized, high-traffic corner with an existing structure and flexible zoning framework.
The site is located at a signalized intersection of Ogden Ave and Taylor Street and benefits from a traffic count of over 19,000 VPD. It is positioned as a flexible pad site for retail development under PD-30 zoning.
Available on either a sale or ground lease basis, the property is well suited for buyers or developers seeking a signalized, high-traffic corner with an existing structure and flexible zoning framework.
Key Highlights
- High‑visibility hard‑corner site at the signalized intersection of Ogden Ave and Taylor Street
- Approx. 16,639 SF land area with an existing approx. 5,000 SF building
- Flexible PD‑30 zoning
Financial Insights For Specialty 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 | $132.0k | $26.40 |
| − Vacancy | −$7.9k | −$1.58 |
| EGI | $124.1k | $24.82 |
| − OpEx | −$31.0k | −$6.20 |
| NOI | $93.1k | $18.61 |
5,000 SF · lease $26.40/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.33M
$1.16M – $1.55M
NOI $93,060 @ 7.0% cap · market cap 3.73%
Second Best
Retail
$988.2K
$864.7K – $1.15M
NOI $69,174 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,024 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
Similar Off Market Nearby
- Randolph Floral Design Ltd — 2410 W 16th St, Chicago, IL 60608
- CFCAM Chicago Flower Creations and More — 1933 W 17th St, Chicago, IL 60608
- Wishing Well Florist LLC — 2443 W 16th St, Chicago, IL 60608
FAQs
What type of property is this?
Storefront property - High-visibility hard-corner site with an existing 5,000 SF building and flexible PD-30 zoning.
Where is this storefront property located?
The property is located at 2207-2214 W Ogden Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: High‑visibility hard‑corner site at the signalized intersection of Ogden Ave and Taylor Street; Approx. 16,639 SF land area with an existing approx. 5,000 SF building; Flexible PD‑30 zoning
