Corner Retail Mixed-Use
3034 W Montrose Avenue Chicago, IL 60618
For Sale
$1,429,000
COMMERCIAL - Chicago, IL
Property Size6,500 SF
Lot Size0.17 Acres
Price / SF$219.85
Days on Market50
Property Features for 3034 W Montrose Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Standard status
Active
APN
13131270330000
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
20079
Utilities
Cooling system
Central Air
Building Details
Year built
1921
Floors in Building
2
Number of units
7
Building materials
Concrete, Brick
Listing Agency:
Century 21 Circle
(773) 465-4200
Listed By:
Mark Ahmad · License #471007186
(312) 513-4490
Added: Jun 8
Changed: Jul 1
Last Checked: Jul 27 at 11:06AM
MLS# 12655125
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property at 3034 W Montrose Avenue, Chicago, IL 60618 is a mixed-use building featuring five commercial storefronts and two residential units on the second level. The two residential units are 2-bedroom, 1-bath layouts. The existing commercial spaces are leased to three different tenant/users. The listing notes that 2024 improvements exceeded $200,000, and the property includes land described as approximately 7,500 square feet with a building size of approximately 6,500 square feet.
The site is described as located in the East Albany Park neighborhood along a retail/pedestrian corridor at a corner intersection with a traffic light. The corner is at Montrose Avenue and Whipple Avenue, just east of Kedzie Avenue. The remarks also reference a second address associated with the parcel, indicating 2-pin numbers front and back, including 4410 N Whipple Avenue used for the parking lot.
For tenants and operators, the configuration provides multiple storefront options within one ownership and includes convenient on-site parking. A rear metal gated parking area is described as offering 15 spaces. The listing also notes one commercial space is vacant now, which may support user needs for added flexibility while the remaining stores remain leased to current tenants.
The site is described as located in the East Albany Park neighborhood along a retail/pedestrian corridor at a corner intersection with a traffic light. The corner is at Montrose Avenue and Whipple Avenue, just east of Kedzie Avenue. The remarks also reference a second address associated with the parcel, indicating 2-pin numbers front and back, including 4410 N Whipple Avenue used for the parking lot.
For tenants and operators, the configuration provides multiple storefront options within one ownership and includes convenient on-site parking. A rear metal gated parking area is described as offering 15 spaces. The listing also notes one commercial space is vacant now, which may support user needs for added flexibility while the remaining stores remain leased to current tenants.
Key Highlights
- Mixed‑use corner property with retail/pedestrian traffic at Montrose Ave. & Whipple Ave., just east of Kedzie Ave.
- 6,500 sq. ft. mixed‑use building on an approx. 7,500 sq. ft. land lot; 1921 construction with brick and concrete.
- Five commercial stores leased to 3 different tenants/users; 1 commercial space is currently vacant.
Financial Insights For Apartment 5plus
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 | $181.7k | $27.96 |
| − Vacancy | −$10.5k | −$1.62 |
| EGI | $171.2k | $26.34 |
| − OpEx | −$77.0k | −$11.85 |
| NOI | $94.2k | $14.49 |
6,500 SF · lease $27.96/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.35M
$1.18M – $1.57M
NOI $94,159 @ 7.0% cap · market cap 6.59%
Second Best
Retail
$1.31M
$1.14M – $1.52M
NOI $91,425 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$2.84M
$2.48M – $3.31M
NOI $198,799 @ 7.0% cap · market cap 13.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Albany Park Blooms — 4009 N Albany Ave Suite back, Chicago, IL 60618
- Botanica Lucero Flowers — 4644 N Kedzie Ave, Chicago, IL 60625
- FTD — 4012 N Kimball Ave, Chicago, IL 60618
- Fely & Gaby Flower And Gifts Shop — 4644 N Kedzie Ave, Chicago, IL 60625
Frequently Asked Questions
What type of property is this?
Storefront property - A corner retail and residential building with multiple storefront tenants and gated rear parking for up to 15 cars.
Where is this storefront property located?
The property is located at 3034 W Montrose Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,429,000.
What are key features of this property?
This property features: Mixed‑use corner property with retail/pedestrian traffic at Montrose Ave. & Whipple Ave., just east of Kedzie Ave.; 6,500 sq. ft. mixed‑use building on an approx. 7,500 sq. ft. land lot; 1921 construction with brick and concrete.; Five commercial stores leased to 3 different tenants/users; 1 commercial space is currently vacant.
