Second-Level Retail
For Sale
$349,000
2300 S Archer Ave Unit 206, Chicago, IL 60616
Second-level space in a two-story retail plaza with shared parking and loading access.
Property Size1,221 SF
Price / SF$285.83
Days on Market48
Property Features for 2300 S Archer Ave Unit 206
General Information
Standard status
Active
Size
1,221 SF
Site & Location
Neighborhood
Chinatown
Additional Details
Floor
2
Asking Price
$349,000
Building Details
Year Built
2018
Stories
2
Listing Agency:
Richland Global Inc
Listed By:
Tat Kong · License #471018209
(773) 791-6526
Source:
Liveliferealty
Added: Sep 10
Changed: Oct 25
Last Checked: Oct 7 at 5:05PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,221-square-foot retail unit occupies the second level of a two-story plaza completed in 2018. The space is ready for occupancy and positioned within a center containing 48 retail spaces, supporting a multi-tenant commercial setting.
Located at the intersection of Archer Ave and Canal Street near Chicago’s Chinatown area, the property offers access to a plaza with 74 parking spaces and two loading zones. Common services include utilities, snow removal, roof maintenance, HVAC, exterior upkeep, cleaning, and insurance for shared areas.
Located at the intersection of Archer Ave and Canal Street near Chicago’s Chinatown area, the property offers access to a plaza with 74 parking spaces 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 second‑level retail unit
- Located in a 2‑story retail plaza completed in 2018
- Part of a center with 48 retail spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,892
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Current Use
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
Frequently Asked Questions
What type of property is this?
Retail space - Second-level space in a two-story retail plaza with shared parking and loading access.
Where is this retail space located?
The property is located at 2300 S Archer Ave Unit 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 second‑level retail unit; Located in a 2‑story retail plaza completed in 2018; Part of a center with 48 retail spaces
