Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Renovated Chicago Avenue Event Space Title is generated by Realmo AI

    3146 W Chicago Ave, Chicago, IL 60622

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Meticulously renovated event space with modern amenities and expansion.

    Type:Hospitality, Office, Retail
    Property size:
    6,400 SF
    Price / SF:
    $218/SF
    Added:
    Nov 18, 2025
    Days on Market:
    179
    Last Refresh:
    Mar 16 at 1:32 pm

    Property Features for 3146 W Chicago Ave

    General Information

    Standard status
    Active
    Size
    6,400 SF
    Property subtype
    Hospitality, Office, Retail

    Building Details

    Year Built
    1909

    We can help!

    Listing Contact
    David Ruiz

    Listing agent David Ruiz License #475.203576

    Listing office R4 Commercial Real Estate Solutions

    Listing date Nov 18, 2025

    Source Crexi

    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 R4 Commercial Real Estate Solutions

    HighLights

    • Meticulously renovated from top to bottom with designer finishes.
    • Expanded event space perfect for entertaining, events, or creative endeavors.
    • Sleek modern kitchen with black cabinetry.
    • 75 foot operable skylight.
    • 3‑Car Attached Garage.
    • Well established Event planning and event space business for sale.

    Overview

    This unique property has undergone a total transformation with meticulous renovations and designer finishes. The versatile layout features a 75-foot operable skylight. The main kitchen is equipped with sleek black cabinetry, creating a modern chef's dream. There is one full bath and two powder rooms, all completely updated, plus a third powder room has been added. The rear of the building has been opened up to add significant square footage, making it perfect for entertaining, events, or creative endeavors. A loft area has been enhanced with custom built-ins. The property includes an attached 3-car garage, suitable for vehicles or extra storage. Recent upgrades include all-new lighting fixtures, repaired and refreshed flooring throughout, and a new concrete patio and outdoor apron with added lighting. The property is located on Chicago Avenue in Chicago, IL. The property size is 6,400 square feet. It is suitable for wedding venues, specialty properties, retail space, creative space, and office use. A well-established event planning and event space business is also for sale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Atria Chicago Hotel & Motel SOLID + PATTERN Interior Design

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7059908
    Latitude
    41.8958523

    Nearby Similar for Sale

    • $459,000
      3,000 SF

      Chicago Commercial Buildings For Sale

      Three commercial buildings in a busy Chicago neighborhood retail location.
      1753-1759 W 79th Street, Chicago, IL 60620
      View Details
    • $949,000
      4,055 SF

      Turnkey Restaurant Venue with PPA License

      Fully renovated restaurant with licenses and uncommitted VGT potential.
      7455 W Irving Park Road, Chicago, IL 60634
      View Details
    • $949,000
      4,055 SF

      Turnkey Restaurant Venue with Licenses

      Fully renovated restaurant with licenses and residential unit for sale.
      7455 W Irving Park Road, Chicago, IL 60634
      View Details
    • $779,900

      Chicago Commercial Brick Storefronts For Sale

      Income-producing commercial property with long-term tenants on a busy corner.
      5600 W Division Street, Chicago, IL 60651
      View Details
    • $759,000
      5,000 SF

      Prime Retail Space in Chicago

      Commercial property in a high-traffic retail district.
      4411 N Kedzie Avenue, Chicago, IL 60625
      View Details
    • $375,000
      2,980 SF

      Woodlawn Commercial Investment Opportunity

      Multi-unit commercial property in Chicago's evolving Woodlawn neighborhood.
      6501 - 6507 1/2 S Saint Lawrence Avenue, Chicago, IL 60637
      View Details
    • $625,000
      4,593 SF

      Fulton River District Commercial Loft

      Classic timber loft in Fulton River District, Chicago.
      566 W Lake Street, Chicago, IL 60661
      View Details
    • $549,900
      2,806 SF

      Wicker Park Corner Retail Building

      2,806 SF retail building in prime Wicker Park location.
      2357 W North Avenue, Chicago, IL 60647
      View Details
    • $1,300,000
      6,400 SF

      Renovated Chicago Industrial Flex Warehouse

      6,400 SF renovated industrial flex warehouse in Chicago for sale.
      3146 W Chicago Avenue, Chicago, IL 60622
      View Details
    • $649,000

      Brighton Park Commercial Strip Center

      Well-maintained commercial strip center in high-traffic location, fully leased.
      4044-48 S ARCHER Avenue, Chicago, IL 60632
      View Details
    • $349,900

      Chicago Commercial Space with Visibility

      Versatile office space ideal for medical or professional services.
      8036 S WESTERN Avenue, Chicago, IL 60620
      View Details
    • $549,000
      1,900 SF

      Southport Corridor Storefront Opportunity

      Prime commercial condo in high-traffic Chicago retail district.
      2836 N Southport Avenue, Chicago, IL 60657
      View Details

    FAQs

    What type of property is this?
    Wedding venue - Meticulously renovated event space with modern amenities and expansion.
    Where is this wedding venue located?
    The property is located at 3146 W Chicago Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Meticulously renovated from top to bottom with designer finishes.; Expanded **event space perfect for entertaining, events, or creative endeavors.**; Sleek modern kitchen with black cabinetry.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    David Ruiz
    Real Estate License ID: 475.203576
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3146 W Chicago Ave, Chicago, IL 60622
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!