Mixed-Use Ground-Floor Retail
3122 South Morgan Street Chicago, IL 60608
For Sale
Contact for pricing
New construction with raw ground-floor retail space and two residential units above, zoned B1-2.
Property Size1,500 SF
Price / SF$306.67
Days on Market87
Property Features for 3122 South Morgan Street
General Information
- Standard status
- Active
- Size
- 1,500 SF
- Property subtype
- Retail, Office
Building Details
- Year Built
- 2026
Listing Agency:
Century 21 Realty Associate
(312) 428-9123
Listed By:
Ivan Man · License #475145659
Source:
Crexi
Added: Apr 29
Changed: Jul 23
Last Checked: Jul 23 at 8:55AM
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 Associate
Investment Insights
Based on property information with market context.
New construction at 3122 S Morgan St includes a ground-floor commercial space in vanilla/raw condition, ready for build-out, along with two residential units above. The design includes large windows intended to provide abundant natural light, and the property offers one on-site parking space.
The building is located in Chicago’s Bridgeport neighborhood, positioned near the 31st St & Morgan corridor. It sits within a dense residential and commercial area.
Zoned B1-2, the space is described as suitable for retail, medical, and office uses. The property may be purchased as a whole building or by individual units.
The building is located in Chicago’s Bridgeport neighborhood, positioned near the 31st St & Morgan corridor. It sits within a dense residential and commercial area.
Zoned B1-2, the space is described as suitable for retail, medical, and office uses. The property may be purchased as a whole building or by individual units.
Key Highlights
- Approx. 1,500 SF ground‑floor commercial space in vanilla/raw condition, ready for build‑out
- New construction with 2026 build year
- B1‑2 zoning suitable for retail, medical, and office uses
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 | $57.6k | $38.40 |
| − Vacancy | −$14.7k | −$9.79 |
| EGI | $42.9k | $28.61 |
| − OpEx | −$10.7k | −$7.15 |
| NOI | $32.2k | $21.46 |
1,500 SF · lease $38.40/SF/yr · vacancy 25.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$459.8K
$402.3K – $536.4K
NOI $32,184 @ 7.0% cap · market cap 7.00%
Second Best
Retail
$296.5K
$259.4K – $345.9K
NOI $20,752 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$707.2K
$618.8K – $825.1K
NOI $49,507 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Retail space - New construction with raw ground-floor retail space and two residential units above, zoned B1-2.
Where is this retail space located?
The property is located at 3122 South Morgan Street Chicago, IL.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Approx. 1,500 SF ground‑floor commercial space in vanilla/raw condition, ready for build‑out; New construction with 2026 build year; B1‑2 zoning suitable for retail, medical, and office uses
