Little Village Mixed-Use
2620 S Central Park Avenue Chicago, IL 60623
2620 S Central Park Avenue, Chicago, IL, 60623
$485,000
For Sale
$485,000
Mixed-use building in Chicago's Little Village with flexible layout.
Property Size733 SF
Price / SF$661.66
Days on Market106
Property Features for 2620 S Central Park Avenue
General Information
- Standard status
- Active
- Size
- 733 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1961
Listing Agency
DUARTE REALTY COMPANY
(708) 589-5855
Listed by
MARITZA RODRIGUEZ
Source
Corcoran
Added: Apr 3 Checked: Jul 17 at 2:55 am
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 DUARTE REALTY COMPANY
Investment Insights
Based on property information with market context.
Located in the heart of Chicago's vibrant Little Village, this mixed-use building presents an investment opportunity in a culturally rich and economically active area. Zoned B3-2, the property accommodates higher-intensity commercial uses, including automotive, production, retail, and restaurant concepts. The layout includes a 733 square foot storefront suitable for retail or a cafe, a large open warehouse-style space in the rear, and a second-floor commercial office space connected to the storefront. Additionally, there is a 2-bedroom residential unit upstairs with full HVAC. The property features a 124 ft deep lot from storefront to alley, a freight elevator, 220 amp electrical service, a double exhaust stack, and 10 ft ceilings with a wide 21 ft layout. This building offers the space, zoning, and infrastructure to bring almost any concept to life.
Key Highlights
- B3‑2 zoning allows for higher‑intensity commercial uses.
- Mixed‑use building with storefront, warehouse space, office space, and a 2‑bedroom residential unit.
- Located in Chicago's Little Village, a culturally rich and economically active area.
Local Financial Insights For Office B
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 | $28.1k | $38.40 |
| − Vacancy | −$7.2k | −$9.79 |
| EGI | $21.0k | $28.61 |
| − OpEx | −$5.2k | −$7.15 |
| NOI | $15.7k | $21.46 |
733 SF · lease $38.40/SF/yr · vacancy 25.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$224.7K
$196.6K – $262.1K
NOI $15,727 @ 7.0% cap · market cap 3.24%
Second Best
Mixed Use
$176.7K
$154.6K – $206.2K
NOI $12,369 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$345.6K
$302.4K – $403.2K
NOI $24,193 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Limon Fitness Club
Gym & Fitness Center
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use building in Chicago's Little Village with flexible layout.
Where is this mixed-use property located?
The property is located at 2620 S Central Park Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: B3‑2 zoning allows for higher‑intensity commercial uses.; Mixed‑use building with storefront, warehouse space, office space, and a 2‑bedroom residential unit.; Located in Chicago's Little Village, a culturally rich and economically active area.
