Retail Storefront
For Sale
$349,888
2322 W Roosevelt Road 1, Chicago, IL 60608
For-sale storefront retail property in Chicago, IL with access off Roosevelt Road.
Property Size1,600 SF
Days on Market52
Property Features for 2322 W Roosevelt Road 1
General Information
Standard status
Active
Size
1,600 SF
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$10,233
Amenities
Central Air
Building Details
Building Size
1,600 SF
Year Built
1888
Stories
1
Listing Agency:
Lucky Land Realty, Inc.
(312) 399-3338
Listed By:
Tiffany Toy · License #471008671
(312) 399-3338
Source:
Evrealestate
Added: Jul 11
Changed: Aug 15
Last Checked: Aug 30 at 2:13PM
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 Lucky Land Realty, Inc.
Investment Insights
Based on property information with market context.
This for-sale retail storefront property is located at 2322 W Roosevelt Road 1 in Chicago, IL 60608, within Cook County. The asset is presented as a retail storefront suitable for retail-focused occupancy.
Directions are noted as traveling west to Roosevelt, then taking Roosevelt to the address.
Additional details on layout, condition, and tenant-ready improvements were not provided.
Directions are noted as traveling west to Roosevelt, then taking Roosevelt to the address.
Additional details on layout, condition, and tenant-ready improvements were not provided.
Key Highlights
- Retail storefront property in Chicago, IL
- Access off Roosevelt Road
- Central Air cooling
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
$22,136
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
6.33%
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%
$442,720
$442.7K
Cap Rate 7%
$316,229
$316.2K
Cap Rate 9%
$245,956
$246.0K
Market Conditions
NOI Build-Up for 1,600 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
$34.6K $21.60/SF
− Vacancy
−$2.9K −$1.84/SF
EGI
$31.6K $19.76/SF
− OpEx
−$9.5K −$5.93/SF
NOI
$22.1K $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%
$442,720
Cap Rate 7%
$316,229
Cap Rate 9%
$245,956
Alternative Uses
Best Use
Retail
$316.2K
$276.7K – $368.9K
NOI $22,136 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$754.4K
$660.1K – $880.1K
NOI $52,808 @ 7.0% cap · market cap 15.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,641
Businesses Nearby
100k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Shops & Services 34%
McDonald's
Dining
31,471 visits/mo
0.1 miles
KFC
Dining
16,703 visits/mo
0.1 miles
Mobil
Shops & Services
15,910 visits/mo
0.2 miles
White Castle
Dining
14,526 visits/mo
0.0 miles
Shell
Shops & Services
10,730 visits/mo
0.1 miles
Demographics for 60608, IL
75,770
Population
32,617
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
77%
High-School Grad
6.2 sq mi
ZIP Area
12,221
Density / Sq Mi
$70,704
Median Household Income
$42,211
Median Earnings
$1,208
Median Rent
$341,500
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?
Storefront property - For-sale storefront retail property in Chicago, IL with access off Roosevelt Road.
Where is this storefront property located?
The property is located at 2322 W Roosevelt Road 1 Chicago, IL.
What is the asking price?
The asking price for this property is $349,888.
What are key features of this property?
This property features: Retail storefront property in Chicago, IL; Access off Roosevelt Road; Central Air cooling
