Mixed-Use Storefront
For Sale
$684,900
2812-2814 W 55th St, Chicago, IL 60632
Storefront asset with COMMR zoning and convenient access to I-55 and Midway Airport.
Property Size5,250 SF
Price / SF$130.46
Days on Market163
Property Features for 2812-2814 W 55th St
General Information
Standard status
Active
Size
5,250 SF
Building Details
Year Built
1937
Listing Agency:
Mid-America Realty & Investment
Listed By:
Christopher Wober · License #475208931
(630) 205-5637
Source:
Liveliferealty
Added: Apr 3
Changed: Sep 8
Last Checked: Sep 11 at 4:53PM
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 Mid-America Realty & Investment
Investment Insights
Based on property information with market context.
This mixed-use storefront property is located at 2812-2814 West 55th Street in Chicago. The building dates to 1937 and is identified with COMMR zoning. Its storefront format provides a commercial-facing presence along West 55th Street, while the mixed-use classification supports the property’s broader positioning.
The property is approximately 10 minutes from I-55 and Midway Airport, providing access to major transportation connections and an established aviation hub. The site’s address and storefront configuration make it a distinct commercial property within the surrounding corridor.
The property is approximately 10 minutes from I-55 and Midway Airport, providing access to major transportation connections and an established aviation hub. The site’s address and storefront configuration make it a distinct commercial property within the surrounding corridor.
Key Highlights
- Mixed‑use storefront property at 2812‑2814 West 55th Street
- COMMR zoning designation
- Building constructed in 1937
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
$56,492
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
8.25%
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%
$1,129,840
$1.1M
Cap Rate 7%
$807,029
$807.0K
Cap Rate 9%
$627,689
$627.7K
Market Conditions
NOI Build-Up for 5,250 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
$88.2K $16.80/SF
− Vacancy
−$7.5K −$1.43/SF
EGI
$80.7K $15.37/SF
− OpEx
−$24.2K −$4.61/SF
NOI
$56.5K $10.76/SF
Area
ZIP 60632
Vacancy
8.50%
Lease Rate
$16.80 /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%
$1,129,840
Cap Rate 7%
$807,029
Cap Rate 9%
$627,689
Alternative Uses
Best Use
Mixed Use
$1.24M
$1.08M – $1.44M
NOI $86,625 @ 7.0% cap · market cap 12.65%
Second Best
Retail
$807.0K
$706.2K – $941.5K
NOI $56,492 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$2.31M
$2.02M – $2.70M
NOI $161,724 @ 7.0% cap · market cap 23.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,074
Businesses Nearby
Explore this area
Business Placement
Demographics for 60632, IL
92,237
Population
28,860
Households
3.2
Avg Household Size
33
Median Age
13%
College-Educated
69%
High-School Grad
7.4 sq mi
ZIP Area
12,464
Density / Sq Mi
$60,576
Median Household Income
$35,203
Median Earnings
$1,057
Median Rent
$240,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Storefront asset with COMMR zoning and convenient access to I-55 and Midway Airport.
Where is this mixed-use property located?
The property is located at 2812-2814 W 55th St Chicago, IL.
What is the asking price?
The asking price for this property is $684,900.
What are key features of this property?
This property features: Mixed‑use storefront property at 2812‑2814 West 55th Street; COMMR zoning designation; Building constructed in 1937
