Office Unit With Treatment
3248 N SHEFFIELD Avenue #1, Chicago, IL 60657
For Sale
$280,000
The ground-floor condo is arranged for client appointments, with a reception area, wet room and accessible restroom.
Property Size1,135 SF
Price / SF$246.70
Days on Market18
Property Features for 3248 N SHEFFIELD Avenue #1
General Information
Standard status
Size
Property subtype
Zoning
Space & Availability
Floor
Condition
Site & Location
Neighborhood
Traffic Count
Public Transit
Additional Details
Currently Operating
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Construction
Tenancy
Abandoned
Listing Agency:
@properties Commercial
Listed By:
Michael Levin · License #475123263
(312) 337-0200
Source:
Gogginrealestate
Added: Oct 23
Changed: Nov 7
Last Checked: Nov 8 at 7:18PM
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 @properties Commercial
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Investment Insights
Based on property information with market context.
This 1,135-square-foot commercial condominium occupies the ground floor of a masonry building constructed in 2000. Its current layout includes a lobby and reception area, three treatment rooms, a wet room, supply storage and a large ADA-compliant restroom. The space has a bright window line along Sheffield Avenue, a dedicated signage area and approximately 200 amps of power. Copper plumbing runs throughout the unit.
The property is near the corner of School and Sheffield, with 7,000 VPD on Sheffield. Bus service and the CTA Belmont train stop are nearby, and street parking is available in the surrounding area. The existing configuration supports appointment-based office use, with a mix of treatment and client-facing areas.
The property is near the corner of School and Sheffield, with 7,000 VPD on Sheffield. Bus service and the CTA Belmont train stop are nearby, and street parking is available in the surrounding area. The existing configuration supports appointment-based office use, with a mix of treatment and client-facing areas.
Key Highlights
- 1,135‑square‑foot ground‑floor commercial condominium
- Three treatment rooms, one wet room, reception area and supply storage
- ADA‑compliant restroom and accessible interior entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,353
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$487,060
$487.1K
Cap Rate 7%
$347,900
$347.9K
Cap Rate 9%
$270,589
$270.6K
Market Conditions
NOI Build-Up for 1,135 SF
Gross rent
$43.6K $38.40/SF
− Vacancy
−$11.1K −$9.79/SF
EGI
$32.5K $28.61/SF
− OpEx
−$8.1K −$7.15/SF
NOI
$24.4K $21.46/SF
Area
Chicago, IL
Vacancy
25.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$487,060
Cap Rate 7%
$347,900
Cap Rate 9%
$270,589
Alternative Uses
Best Use
Office B
$347.9K
$304.4K – $405.9K
NOI $24,353 @ 7.0% cap · market cap 8.70%
Second Best
Retail
$224.3K
$196.3K – $261.7K
NOI $15,702 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$535.1K
$468.3K – $624.3K
NOI $37,460 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
7,000 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,972
Businesses Nearby
Explore this area
Business Placement
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
$534,500
Median Home Value
Market
Average Price Trend$/SF for Office Units in Chicago, IL
Properties on Market for Office Units in Chicago
Vacancy Rate% for Office in Chicago, IL
Frequently Asked Questions
What type of property is this?
Office unit - The ground-floor condo is arranged for client appointments, with a reception area, wet room and accessible restroom.
Where is this office unit located?
The property is located at 3248 N SHEFFIELD Avenue #1 Chicago, IL.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 1,135‑square‑foot ground‑floor commercial condominium; Three treatment rooms, one wet room, reception area and supply storage; ADA‑compliant restroom and accessible interior entrance
