Ground-Floor Office
New
For Sale
$330,000
2831 N Halsted Street #1N, Chicago, IL 60657
Ground-floor office condo layout with reception, enclosed room, and a dedicated one-car parking garage space.
Property Size1,119 SF
Price / SF$294.91
Days on Market6
Property Features for 2831 N Halsted Street #1N
General Information
Standard status
Active
Size
1,119 SF
Total Parking Spaces
1
Property subtype
Commercial
Additional Details
Floor
Ground Floor
Public Transit
Yes
Amenities
Central air
Central Air Cooling
Building Details
Year Built
2018
Listing Agency:
CENTURY 21 REALTY ASSOCIATES
(312) 428-9123
Listed By:
WEN KAI CHUEH
Source:
Corcoran
Added: Jul 27
Changed: Jul 29
Last Checked: Jul 31 at 7:18AM
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 CENTURY 21 REALTY ASSOCIATES
Investment Insights
Based on property information with market context.
Ground Floor NEW commercial condo for sale featuring a front reception with an open area and an enclosed room. The unit also includes a single bathroom and a utility closet toward the rear. A single-car parking garage space is included.
The space is positioned for street exposure on Halsted in a prime Lakeview location. It is described as close to public transportation and nearby employers and retailers, including Walgreens and FedEx. Nearby retailers mentioned include Dom’s Kitchen Market (one block away), Trader Joe’s, Home Depot, TJ Maxx, and Target.
Built in 2018, the layout is presented as suitable for office, retail, or fitness use, with the emphasis on major street exposure and pedestrian traffic in the immediate area.
The space is positioned for street exposure on Halsted in a prime Lakeview location. It is described as close to public transportation and nearby employers and retailers, including Walgreens and FedEx. Nearby retailers mentioned include Dom’s Kitchen Market (one block away), Trader Joe’s, Home Depot, TJ Maxx, and Target.
Built in 2018, the layout is presented as suitable for office, retail, or fitness use, with the emphasis on major street exposure and pedestrian traffic in the immediate area.
Key Highlights
- 1,119 SF ground‑floor commercial condo
- Front reception with open area plus enclosed room
- Includes a single bathroom and utility closet
Financial Insights For Office B
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 | $43.0k | $38.40 |
| − Vacancy | −$11.0k | −$9.79 |
| EGI | $32.0k | $28.61 |
| − OpEx | −$8.0k | −$7.15 |
| NOI | $24.0k | $21.46 |
1,119 SF · lease $38.40/SF/yr · vacancy 25.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$343.0K
$300.1K – $400.2K
NOI $24,009 @ 7.0% cap · market cap 7.28%
Second Best
Retail
$221.2K
$193.5K – $258.0K
NOI $15,481 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$527.6K
$461.7K – $615.5K
NOI $36,932 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,242
Businesses Nearby
Explore this area
Business Placement
Demographics for 60657, IL
72,316
Population
42,246
Households
1.7
Avg Household Size
32
Median Age
87%
College-Educated
99%
High-School Grad
2.2 sq mi
ZIP Area
32,871
Density / Sq Mi
$109,025
Median Household Income
$77,731
Median Earnings
$1,839
Median Rent
$534,500
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?
Office units - Ground-floor office condo layout with reception, enclosed room, and a dedicated one-car parking garage space.
Where is this office units located?
The property is located at 2831 N Halsted Street #1N Chicago, IL.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 1,119 SF ground‑floor commercial condo; Front reception with open area plus enclosed room; Includes a single bathroom and utility closet
