Ground-Floor Retail Condo With
For Sale
Contact for pricing
Pending
3132 North Sheffield Avenue, Chicago, IL 60657
Fully occupied ground-floor retail condo with two tenants and prominent frontage, two minutes from the Belmont CTA station.
Property Size7,113 SF
Days on Market179
Property Features for 3132 North Sheffield Avenue
General Information
Standard status
Pending
Size
7,113 SF
Property subtype
Retail
Investment Type
Net Lease
Site & Location
Neighborhood
Lakeview
Building Details
Year Built
2003
Listing Agency:
Northmarq Capital, LLC
Listed By:
Chad Byerly · License #OK 155856
(918) 794-9516
Source:
Crexi
Added: Apr 28
Changed: Oct 20
Last Checked: Oct 23 at 4:22AM
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 Northmarq Capital, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This fully occupied, ground-floor retail condo is part of a larger mixed-use development and features two lifestyle tenants: Yoga Box and Chiro One Chiropractic & Wellness Centers. The condominium is integrated within a greater project that includes 51 residential units.
The property has frontage along N Sheffield Ave, with traffic counts reported at 8,900+ VPD. It sits just south of a signalized intersection at W Belmont Ave, with traffic counts reported at 17,700+ VPD, and it is described as a two-minute walk from the Belmont CTA Station.
As offered, the unit presents an income-producing retail opportunity within a neighborhood retail corridor supported by nearby transit connectivity and on-site residential density.
The property has frontage along N Sheffield Ave, with traffic counts reported at 8,900+ VPD. It sits just south of a signalized intersection at W Belmont Ave, with traffic counts reported at 17,700+ VPD, and it is described as a two-minute walk from the Belmont CTA Station.
As offered, the unit presents an income-producing retail opportunity within a neighborhood retail corridor supported by nearby transit connectivity and on-site residential density.
Key Highlights
- Fully occupied ground‑floor retail condo in Chicago’s Lakeview neighborhood
- Two tenants: Yoga Box and Chiro One Chiropractic & Wellness Centers
- Frontage on N Sheffield Ave with 8,900+ VPD
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,407
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,968,140
$2.0M
Cap Rate 7%
$1,405,814
$1.4M
Cap Rate 9%
$1,093,411
$1.1M
Market Conditions
NOI Build-Up for 7,113 SF
Gross rent
$153.6K $21.60/SF
− Vacancy
−$13.1K −$1.84/SF
EGI
$140.6K $19.76/SF
− OpEx
−$42.2K −$5.93/SF
NOI
$98.4K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,968,140
Cap Rate 7%
$1,405,814
Cap Rate 9%
$1,093,411
Alternative Uses
Best Use
Retail
$1.41M
$1.23M – $1.64M
NOI $98,407 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.35M
$2.93M – $3.91M
NOI $234,763 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,951
Businesses Nearby
227k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 39%
Groceries 12%
Home Improvements & Furnishings 4%
Binny's Beverage Depot
Groceries
26,649 visits/mo
0.4 miles
Chick-fil-A
Dining
19,353 visits/mo
0.5 miles
Fifth Third Bank & ATM
Shops & Services
17,071 visits/mo
0.3 miles
Shell
Shops & Services
14,072 visits/mo
0.4 miles
Chase Bank
Shops & Services
10,982 visits/mo
0.4 miles
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 Retail in Chicago, IL
Frequently Asked Questions
What type of property is this?
Retail space - Fully occupied ground-floor retail condo with two tenants and prominent frontage, two minutes from the Belmont CTA station.
Where is this retail space located?
The property is located at 3132 North Sheffield Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $3,120,000.
What are key features of this property?
This property features: Fully occupied ground‑floor retail condo in Chicago’s Lakeview neighborhood; Two tenants: Yoga Box and Chiro One Chiropractic & Wellness Centers; Frontage on N Sheffield Ave with 8,900+ VPD
