Corner Live-Work
New
For Sale
$850,000
400 N Racine Avenue Unit 105, Chicago, IL 60642
An expansive open layout includes a kitchen and two side-by-side parking spaces.
Property Size2,680 SF
Price / SF$317.16
Days on Market5
Property Features for 400 N Racine Avenue Unit 105
General Information
Standard status
Active
Size
2,680 SF
Total Parking Spaces
2
Property subtype
COMMERCIAL
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$10,842
Amenities
13+ ft. ceilings
dramatic natural light
designer kitchen
custom finishes
open flex space
Building Details
Building Size
2,680 SF
Year Built
1990
Listing Agency:
Jameson Sotheby's Intl Realty
Listed By:
Michael Shenfeld · License #475125273
(312) 399-5848
Source:
Harkinsandassociates
Added: Oct 15
Changed: Oct 19
Last Checked: Oct 19 at 2:02PM
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 Jameson Sotheby's Intl Realty
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Investment Insights
Based on property information with market context.
This 2,680-square-foot corner loft offers a live-work layout with a 54' x 31' open flex area, ceilings over 13 feet, and a kitchen. Custom finishes and two side-by-side parking spaces are also part of the property. Built in 1990, the space was previously used as a photography studio.
The property is in Fulton Market, near the area’s restaurant row, shops, and nightlife. Grand Avenue’s Italian grocery stores and neighborhood eateries are north of the building.
The property is in Fulton Market, near the area’s restaurant row, shops, and nightlife. Grand Avenue’s Italian grocery stores and neighborhood eateries are north of the building.
Key Highlights
- 2,680 SF corner live‑work loft
- 54' x 31' open flex area
- 13+ ft. ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,502
Cap Rate
6.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,150,040
$1.2M
Cap Rate 7%
$821,457
$821.5K
Cap Rate 9%
$638,911
$638.9K
Market Conditions
NOI Build-Up for 2,680 SF
Gross rent
$102.9K $38.40/SF
− Vacancy
−$26.2K −$9.79/SF
EGI
$76.7K $28.61/SF
− OpEx
−$19.2K −$7.15/SF
NOI
$57.5K $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%
$1,150,040
Cap Rate 7%
$821,457
Cap Rate 9%
$638,911
Alternative Uses
Best Use
Office B
$821.5K
$718.8K – $958.4K
NOI $57,502 @ 7.0% cap · market cap 6.76%
Second Best
Mixed Use
$646.1K
$565.3K – $753.8K
NOI $45,225 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$1.26M
$1.11M – $1.47M
NOI $88,453 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,877
Businesses Nearby
Explore this area
Business Placement
Demographics for 60642, IL
21,687
Population
12,144
Households
1.8
Avg Household Size
33
Median Age
78%
College-Educated
97%
High-School Grad
1.7 sq mi
ZIP Area
12,757
Density / Sq Mi
$141,179
Median Household Income
$90,885
Median Earnings
$2,216
Median Rent
$604,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Chicago, IL
Frequently Asked Questions
What type of property is this?
Live-work space - An expansive open layout includes a kitchen and two side-by-side parking spaces.
Where is this live-work space located?
The property is located at 400 N Racine Avenue Unit 105 Chicago, IL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2,680 SF corner live‑work loft; 54' x 31' open flex area; 13+ ft. ceilings
