Building Details

Buildings 1

Tenancy Single

Listing Agency: Greenstone Partners

Listed By: Tom Galvin · License #IL 475181636 Show Phone

Source: Crexi

Added: Jul 6 Changed: Oct 10 Last Checked: Oct 15 at 12:05AM

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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 Greenstone Partners

Investment Insights

Based on property information with market context.

This 9,779-square-foot NNN retail property is occupied by The Dog Stop as a single-tenant asset. The building includes on-site parking and dock doors, supporting customer access and property operations. A long-term tenancy and significant tenant investment are also identified in the property information.

The property is located at 2627 North Western Avenue in Chicago’s Bucktown/Logan Square area. Its setting provides access to the Kennedy Expressway and nearby retail destinations, with the address positioned along North Western Avenue.

Key Highlights

• 9,779‑square‑foot NNN retail property
• Single‑tenant occupancy by The Dog Stop
• Long‑term tenancy with significant tenant investment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$135,291

Cap Rate

4.76%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,705,820 $2.7M

Cap Rate 7%

$1,932,729 $1.9M

Cap Rate 9%

$1,503,233 $1.5M

Market Conditions

NOI Build-Up for 9,779 SF

Gross rent

$211.2K $21.60/SF

− Vacancy

−$18.0K −$1.84/SF

EGI

$193.3K $19.76/SF

− OpEx

−$58.0K −$5.93/SF

NOI

$135.3K $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%

$2,705,820

Cap Rate 7%

$1,932,729

Cap Rate 9%

$1,503,233

Alternative Uses

Best Use

Retail

$1.93M

$1.69M – $2.25M (±1% cap)

NOI $135,291 @ 7.0% cap · market cap 4.76%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.61M

$4.03M – $5.38M (±1% cap)

NOI $322,754 @ 7.0% cap · market cap 11.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Auto Parts Store HVAC Service Hotel & Motel Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

2,294

Businesses Nearby

459k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Superstores 42% Dining 22% Home Improvements & Furnishings 20% Leisure 10%

Target Superstores

190,856 visits/mo 0.2 miles

Regal City North Leisure

43,577 visits/mo 0.0 miles

HomeGoods Home Improvements & Furnishings

42,023 visits/mo 0.2 miles

The Home Depot Home Improvements & Furnishings

36,403 visits/mo 0.3 miles

Starbucks Dining

21,992 visits/mo 0.3 miles

Demographics for 60647, IL

85,631

Population

41,975

Households

2

Avg Household Size

33

Median Age

61%

College-Educated

92%

High-School Grad

4.0 sq mi

ZIP Area

21,408

Density / Sq Mi

$102,851

Median Household Income

$65,776

Median Earnings

$1,714

Median Rent

$557,300

Median Home Value

Market

Vacancy Rate% for Retail in Chicago, IL

9.1% 2019

9.2% 2020

8.8% 2021

8.1% 2022

7% 2023

6.6% 2024

7.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this nnn properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

NNN property - Single-tenant net lease asset with on-site parking and loading functionality.

Where is this nnn property located?

The property is located at 2627 North Western Avenue Chicago, IL.

What is the asking price?

The asking price for this property is $2,840,000.

What are key features of this property?

This property features: 9,779‑square‑foot NNN retail property; Single‑tenant occupancy by The Dog Stop; Long‑term tenancy with significant tenant investment