Ground-Floor Retail
2816 W Chicago Ave Chicago, IL 60622
For Sale
Contact for pricing
Ground-floor storefront in a 32-unit multifamily building with an open layout and 14-foot ceilings.
Property Size1,900 SF
Price / SF$210
Days on Market119
Property Features for 2816 W Chicago Ave
General Information
- Standard status
- Active
- Size
- 1,900 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2006
Listing Agency:
Kawash Real Estate Group
(630) 337-9126
Listed By:
Gianni Davila · License #475216339
Source:
Crexi
Added: Mar 27
Changed: Jul 22
Last Checked: Jul 23 at 1:57PM
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 Kawash Real Estate Group
Investment Insights
Based on property information with market context.
This high-visibility ground-floor storefront is located within a modern 32-unit multifamily building. The space offers an open floor plan with soaring 14-foot ceilings and is described as move-in ready. It is currently positioned to support retail use, and it is also presented as suitable for office or specialty concepts.
The property is situated at the signalized intersection of Chicago Ave and California Ave, capturing a combined traffic count of over 24,000 vehicles per day. Four nearby bus stops and an “Exceptional” Walk Score of 90 are noted, supporting convenient transit access and strong walkability for neighborhood foot traffic.
The property is situated at the signalized intersection of Chicago Ave and California Ave, capturing a combined traffic count of over 24,000 vehicles per day. Four nearby bus stops and an “Exceptional” Walk Score of 90 are noted, supporting convenient transit access and strong walkability for neighborhood foot traffic.
Key Highlights
- Year built 2006 ground‑floor retail storefront in a 32‑unit multifamily building
- Open floor plan with 14‑foot ceilings
- Storefront is at the signalized intersection of Chicago Ave and California Ave
Financial Insights For Retail
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 | $41.0k | $21.60 |
| − Vacancy | −$3.5k | −$1.84 |
| EGI | $37.6k | $19.76 |
| − OpEx | −$11.3k | −$5.93 |
| NOI | $26.3k | $13.83 |
1,900 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$375.5K
$328.6K – $438.1K
NOI $26,286 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$895.8K
$783.9K – $1.05M
NOI $62,709 @ 7.0% cap · market cap 15.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
James City Junk ...
Car Dealership
Similar Off Market Nearby
- InFlorEscence — 1001 N Western Ave, Chicago, IL 60622
- Larkspur — 333 N Oakley Blvd #101, Chicago, IL 60612
- Pistil & Vine — 807 N Campbell Ave, Chicago, IL 60622
- Plant place — 2545 W Division St, Chicago, IL 60622
- Honey Street Flowers — 319 N Albany Ave, Chicago, IL 60622
FAQs
What type of property is this?
Storefront property - Ground-floor storefront in a 32-unit multifamily building with an open layout and 14-foot ceilings.
Where is this storefront property located?
The property is located at 2816 W Chicago Ave Chicago, IL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Year built 2006 ground‑floor retail storefront in a 32‑unit multifamily building; Open floor plan with 14‑foot ceilings; Storefront is at the signalized intersection of Chicago Ave and California Ave
