Second-Level Retail
For Sale
$349,000
2300 S Archer Avenue #206, Chicago, IL 60616
Retail suite in a two-story plaza with on-site parking and loading zones.
Property Size1,221 SF
Price / SF$285.83
Days on Market328
Property Features for 2300 S Archer Avenue #206
General Information
Standard status
Active
Size
1,221 SF
Total Parking Spaces
74
Property subtype
Commercial
Zoning
COMMR
Additional Details
Floor
2
Asking Price
$349,000
Taxes and HOA fees
Annual Taxes
$8,943
Amenities
common area utilities
snow removal
roof maintenance
common HVAC
exterior upkeep
cleaning
common insurance
Building Details
Building Size
1,221 SF
Year Built
2018
Stories
2
Units
48
Tenancy
Multi
Listing Agency:
Richland Global Inc
(312) 600-7128
Listed By:
Tat Kong · License #471018209
(312) 600-7128
Source:
Perillorealestategroup
Added: Oct 7, 2025
Changed: Aug 29
Last Checked: Aug 25 at 5:51AM
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 Richland Global Inc
Investment Insights
Based on property information with market context.
This 1,221-square-foot retail suite is located on the second level of a two-story plaza completed in 2018. The space is ready for occupancy and forms part of a larger retail environment with 48 spaces, shared common-area services, and established businesses operating throughout the property.
The plaza sits at the intersection of Archer Avenue and Canal Street, near the edge of Chicago’s Chinatown area. Property amenities include 74 parking spots and two loading zones. Common services include utilities, snow removal, roof maintenance, HVAC, exterior upkeep, cleaning, and insurance for shared areas.
The plaza sits at the intersection of Archer Avenue and Canal Street, near the edge of Chicago’s Chinatown area. Property amenities include 74 parking spots and two loading zones. Common services include utilities, snow removal, roof maintenance, HVAC, exterior upkeep, cleaning, and insurance for shared areas.
Key Highlights
- 1,221‑square‑foot retail suite on the second level
- Located at Archer Avenue and Canal Street in Chicago
- Part of a 2018 two‑story retail plaza with 48 retail spaces
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
$16,892
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
4.84%
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%
$337,840
$337.8K
Cap Rate 7%
$241,314
$241.3K
Cap Rate 9%
$187,689
$187.7K
Market Conditions
NOI Build-Up for 1,221 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
$26.4K $21.60/SF
− Vacancy
−$2.2K −$1.84/SF
EGI
$24.1K $19.76/SF
− OpEx
−$7.2K −$5.93/SF
NOI
$16.9K $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%
$337,840
Cap Rate 7%
$241,314
Cap Rate 9%
$187,689
Alternative Uses
Best Use
Retail
$241.3K
$211.2K – $281.5K
NOI $16,892 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$575.7K
$503.7K – $671.7K
NOI $40,299 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,517
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
8,435 visits/mo
0.4 miles
Demographics for 60616, IL
54,013
Population
26,912
Households
2
Avg Household Size
38
Median Age
53%
College-Educated
86%
High-School Grad
3.8 sq mi
ZIP Area
14,214
Density / Sq Mi
$77,841
Median Household Income
$53,415
Median Earnings
$1,329
Median Rent
$387,300
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?
Retail space - Retail suite in a two-story plaza with on-site parking and loading zones.
Where is this retail space located?
The property is located at 2300 S Archer Avenue #206 Chicago, IL.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 1,221‑square‑foot retail suite on the second level; Located at Archer Avenue and Canal Street in Chicago; Part of a 2018 two‑story retail plaza with 48 retail spaces
