Ground-Floor Retail Condo With
3132 North Sheffield Avenue Chicago, IL 60657
For Sale
Contact for pricing
Fully occupied ground-floor retail condo with two tenants and prominent frontage, two minutes from the Belmont CTA station.
Property Size7,113 SF
Price / SF$438.63
Days on Market88
Property Features for 3132 North Sheffield Avenue
General Information
- Standard status
- Active
- Size
- 7,113 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2003
Listing Agency:
Northmarq Capital, LLC
(918) 794-9516
Listed By:
Chad Byerly · License #OK 155856
Source:
Crexi
Added: Apr 28
Changed: Jul 23
Last Checked: Jul 23 at 7:57AM
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
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 For Retail
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 | $153.6k | $21.60 |
| − Vacancy | −$13.1k | −$1.84 |
| EGI | $140.6k | $19.76 |
| − OpEx | −$42.2k | −$5.93 |
| NOI | $98.4k | $13.83 |
7,113 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.41M
$1.23M – $1.64M
NOI $98,407 @ 7.0% cap · market cap 3.15%
Second Best
Healthcare Medical
$1.35M
$1.18M – $1.57M
NOI $94,233 @ 7.0% cap · market cap 3.02%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Chiro One Chiropractic ...
Alternative Medicine Practice
Andrew Vantreese
Alternative Medicine Practice
Sean Stewart
Alternative Medicine Practice
FAQs
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
