Commercial Space with
For Sale
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2633 W Bryn Mawr Avenue C3, Chicago, IL 60659
Versatile commercial space suitable for retail, office, or wellness uses.
Property Size1,260 SF
Price / SF$305.56
Days on Market177
Property Features for 2633 W Bryn Mawr Avenue C3
General Information
Standard status
Active
Size
1,260 SF
Property subtype
Multifamily, Office, Retail, Special Purpose
Zoning
OFFIC
Net Operating Income
$19,800
Building Details
Year Built
2006
Stories
5
Units
1
Listing Agency:
Berkshire Hathaway HomeServices Chicago
(312) 731-3394
Listed By:
Emir Vulic · License #IL
Source:
Crexi
Added: Feb 25
Changed: Aug 19
Last Checked: Aug 18 at 3:01PM
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 Berkshire Hathaway HomeServices Chicago
Investment Insights
Based on property information with market context.
This commercial space offers 1,260 square feet, complemented by 1,256 square feet of lower-level storage. The property is suitable for various businesses, including boutique retail, cafes, salons, spas, yoga or fitness studios, professional offices, therapy or medical practices, and real estate or insurance offices, aligning with B2-3 zoning for neighborhood-serving commercial uses. Large display windows with awnings enhance street presence and provide natural light. The space includes central air conditioning and heat, a bathroom, and a water fountain. Two rear parking spaces are included, with additional street parking available for customers or clients.
Key Highlights
- Prime commercial location with strong visibility.
- Large open space: 1,260 sq ft plus 1,256 sq ft of lower level storage.
- Versatile B2‑3 zoning allows for a wide range of commercial uses.
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
$27,035
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
7.02%
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%
$540,700
$540.7K
Cap Rate 7%
$386,214
$386.2K
Cap Rate 9%
$300,389
$300.4K
Market Conditions
NOI Build-Up for 1,260 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
$48.4K $38.40/SF
− Vacancy
−$12.3K −$9.79/SF
EGI
$36.0K $28.61/SF
− OpEx
−$9.0K −$7.15/SF
NOI
$27.0K $21.46/SF
Area
Chicago, IL
Vacancy
25.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
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%
$540,700
Cap Rate 7%
$386,214
Cap Rate 9%
$300,389
Alternative Uses
Best Use
Office B
$386.2K
$337.9K – $450.6K
NOI $27,035 @ 7.0% cap · market cap 7.02%
Second Best
Retail
$249.0K
$217.9K – $290.5K
NOI $17,432 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$594.1K
$519.8K – $693.1K
NOI $41,586 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,778
Businesses Nearby
Explore this area
Business Placement
Demographics for 60659, IL
40,579
Population
14,748
Households
2.8
Avg Household Size
36
Median Age
40%
College-Educated
82%
High-School Grad
2.4 sq mi
ZIP Area
16,908
Density / Sq Mi
$70,033
Median Household Income
$40,493
Median Earnings
$1,391
Median Rent
$358,800
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Versatile commercial space suitable for retail, office, or wellness uses.
Where is this retail space located?
The property is located at 2633 W Bryn Mawr Avenue C3 Chicago, IL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Prime commercial location with strong visibility.; Large open space: **1,260 sq ft plus 1,256 sq ft of lower level storage.**; Versatile B2‑3 zoning allows for a wide range of commercial uses.
