Building Details

Building Size 9,516 SF

Year Built 1924

Stories 2

Listing Agency: Coldwell Banker Leader Realty

Listed By: Mark Ahmad · License #471007186 Show Phone

Source: Evrealestate

Added: Oct 13 Changed: Oct 21 Last Checked: Oct 21 at 2:04AM

Report an Issue

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 Coldwell Banker Leader Realty

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This storefront property was built in 1924 and includes central air conditioning. Its zoning designation is OTHER.

The property is located at 3026 W Montrose Avenue in Chicago. Directions reference access from Kedzie Avenue or California Avenue via Montrose Avenue.

Key Highlights

• Storefront property built in 1924
• Central air conditioning
• Zoning designation: OTHER

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$133,846

Cap Rate

4.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,676,920 $2.7M

Cap Rate 7%

$1,912,086 $1.9M

Cap Rate 9%

$1,487,178 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,516 SF

Gross rent

$209.0K $21.96/SF

− Vacancy

−$17.8K −$1.87/SF

EGI

$191.2K $20.09/SF

− OpEx

−$57.4K −$6.03/SF

NOI

$133.8K $14.07/SF

Area

ZIP 60618

Vacancy

8.50%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,676,920

Cap Rate 7%

$1,912,086

Cap Rate 9%

$1,487,178

Alternative Uses

Best Use

Retail

$1.91M

$1.67M – $2.23M (±1% cap)

NOI $133,846 @ 7.0% cap · market cap 4.62%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.16M

$3.64M – $4.85M (±1% cap)

NOI $291,042 @ 7.0% cap · market cap 10.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Angelo's Wine Bar Bar & Pub

Suggested Use

Top Pick Law Firm Home Appliance Store Locksmith Butcher (Bike/Boat/Book/etc) Store Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,479

Businesses Nearby

38k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 80% Shops & Services 16% Home Improvements & Furnishings 3%

McDonald's Dining

28,743 visits/mo 0.3 miles

7-Eleven Shops & Services

4,380 visits/mo 0.2 miles

Pantry Shops & Services

1,813 visits/mo 0.4 miles

Golden Krust Caribbean Bakery and Grill Dining

1,772 visits/mo 0.4 miles

Jays True Value Home Improvements & Furnishings

1,216 visits/mo 0.4 miles

Demographics for 60618, IL

90,316

Population

41,053

Households

2.2

Avg Household Size

35

Median Age

55%

College-Educated

89%

High-School Grad

5.0 sq mi

ZIP Area

18,063

Density / Sq Mi

$101,558

Median Household Income

$60,263

Median Earnings

$1,534

Median Rent

$538,300

Median Home Value

Market

Vacancy Rate% for Retail in Chicago, IL

9.1% 2019

9.2% 2020

8.8% 2021

8.1% 2022

7% 2023

6.6% 2024

7.4% 2025

Similar For Sale Nearby

See more

Lincoln Park Retail Opportunity

2440 N Lincoln Avenue, Chicago, IL 60614

$3,450,000

View details

Mixed-Use Building with Penthouse

1219 W Madison St, Chicago, IL 60607

$4,950,000

8,000 SF

View details

Retail Storefront with Lease Extension

4625 S Pulaski Rd, Chicago, IL 60632

$1,958,000

6,974 SF

View details

Corner Storefront Property with Flexible Layout

50 E 16th Street C-1a, Chicago, IL 60616

$1,890,000

7,000 SF

View details

Net-Leased Walgreens Corner Building

6301 South Kedzie Avenue, Chicago, IL 60629

$3,900,000

14,029 SF

View details

Two-Unit Retail Storefront

4817-4819 W Irving Park Rd, Chicago, IL 60641

$1,899,000

View details

Corner Mixed-Use Building

2100 N Hoyne Ave, Chicago, IL 60647

$1,825,000

View details

Retail Space with High-Visibility Frontage

6130 N Broadway, Chicago, IL 60660

$2,500,000

View details

Split-Level Storefront Property

1910 W North Ave, Chicago, IL 60622

$1,449,950

5,185 SF

View details

Historic Mixed-Use Building

314 S Federal Street, Chicago, IL 60604

$4,995,000

20,000 SF

View details

Mixed-Use Property with Storefronts

5120 W Grand Ave, Chicago, IL 60639

$1,549,000

19,541 SF

View details

Three-Story Office Building

175 W Washington Street, Chicago, IL 60602

$4,840,000

0.21 Acres

View details

Similar Off Market Nearby

• FTD — 4012 N Kimball Ave, Chicago, IL 60618
• Albany Park Blooms — 4009 N Albany Ave Suite back, Chicago, IL 60618
• Fely & Gaby Flower And Gifts Shop — 4644 N Kedzie Ave, Chicago, IL 60625
• Botanica Lucero Flowers — 4644 N Kedzie Ave, Chicago, IL 60625

Frequently Asked Questions

What type of property is this?

Storefront property - Central air serves this Chicago storefront.

Where is this storefront property located?

The property is located at 3026 W Montrose Avenue Chicago, IL.

What is the asking price?

The asking price for this property is $2,899,000.

What are key features of this property?

This property features: Storefront property built in 1924; Central air conditioning; Zoning designation: OTHER