Storefront
New
For Sale
$899,500
2721 W Peterson Avenue, Chicago, IL 60659
Commercially zoned space has central air and a 1971 construction date.
Property Size5,500 SF
Days on Market7
Property Features for 2721 W Peterson Avenue
General Information
Standard status
Active
Size
5,500 SF
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$7,989
Amenities
Central Air
Building Details
Building Size
5,500 SF
Year Built
1971
Stories
1
Listing Agency:
Dream Town Realty
Listed By:
Philip Mistrata
(773) 383-0281
Source:
Evrealestate
Added: Oct 15
Changed: Oct 19
Last Checked: Oct 20 at 8:19PM
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 Dream Town Realty
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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 storefront property was built in 1971 and includes central air. Its zoning designation is COMMR.
The property is located at 2721 W Peterson Avenue in Chicago, between Western Avenue and California Avenue on Peterson Avenue (6000N).
The property is located at 2721 W Peterson Avenue in Chicago, between Western Avenue and California Avenue on Peterson Avenue (6000N).
Key Highlights
- Central air conditioning
- Built in 1971
- Zoning designation: COMMR
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,091
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,521,820
$1.5M
Cap Rate 7%
$1,087,014
$1.1M
Cap Rate 9%
$845,456
$845.5K
Market Conditions
NOI Build-Up for 5,500 SF
Gross rent
$118.8K $21.60/SF
− Vacancy
−$10.1K −$1.84/SF
EGI
$108.7K $19.76/SF
− OpEx
−$32.6K −$5.93/SF
NOI
$76.1K $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 Rate 5%
$1,521,820
Cap Rate 7%
$1,087,014
Cap Rate 9%
$845,456
Alternative Uses
Best Use
Retail
$1.09M
$951.1K – $1.27M
NOI $76,091 @ 7.0% cap · market cap 8.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.59M
$2.27M – $3.03M
NOI $181,526 @ 7.0% cap · market cap 20.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,926
Businesses Nearby
121k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Dining 30%
Groceries 22%
Beauty & Spa 1%
Aldi
Groceries
26,510 visits/mo
0.4 miles
Culver's
Dining
23,371 visits/mo
0.5 miles
BP
Shops & Services
17,990 visits/mo
0.1 miles
Bank of America
Shops & Services
14,860 visits/mo
0.5 miles
ARCO
Shops & Services
9,936 visits/mo
0.1 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Chicago, IL
Similar Off Market Nearby
- Blooming City Flowers — 3000 W Peterson Ave, Chicago, IL 60659
Frequently Asked Questions
What type of property is this?
Storefront property - Commercially zoned space has central air and a 1971 construction date.
Where is this storefront property located?
The property is located at 2721 W Peterson Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $899,500.
What are key features of this property?
This property features: Central air conditioning; Built in 1971; Zoning designation: COMMR
