Bronzeville Commercial Building For
418 E 43rd Street Chicago, IL 60653
418 E 43rd Street, Chicago, IL, 60653
$1,900,000
For Sale
$1,900,000
12,000 SF commercial building in revitalizing Bronzeville neighborhood.
Property Size12,000 SF
Price / SF$158.33
Days on Market176
Property Features for 418 E 43rd Street
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1942
Listing agency
SK PROPERTIES GROUP, LLC
(773) 493-7000
Listed by
SUNI KARIM · License #471000095
Source
Corcoran
Added: Jan 27 Updated: Jul 10 at 3:46PM Checked: Jul 22 at 6:45AM
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 SK PROPERTIES GROUP, LLC
Investment Insights
Based on property information with market context.
This one-story commercial building provides 12,000 square feet of rentable space, complemented by 704 square feet allocated for parking. Situated in the Bronzeville neighborhood, the property benefits from ongoing revitalization efforts and new residential developments, including townhomes, condominiums, single-family homes, and apartment rentals. The location on East 43rd Street places it on a main thoroughfare, with Cottage Grove to the east and King Drive to the west. Public transportation is readily accessible via the bus line on East 43rd Street and the elevated Green Line. The B3-3 zoning accommodates a range of business uses, such as large grocery stores, medical centers, restaurants, professional offices, retail shops, and banks. The property is also offered for sale.
Key Highlights
- 12,000 sq ft of rentable space in a one‑story commercial building
- Located on East 43rd Street in the revitalizing Bronzeville neighborhood
- Zoned B3‑3, allowing for a wide range of business uses
Local 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 | $259.2k | $21.60 |
| − Vacancy | −$22.0k | −$1.84 |
| EGI | $237.2k | $19.76 |
| − OpEx | −$71.2k | −$5.93 |
| NOI | $166.0k | $13.83 |
12,000 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.37M
$2.08M – $2.77M
NOI $166,018 @ 7.0% cap · market cap 8.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.66M
$4.95M – $6.60M
NOI $396,058 @ 7.0% cap · market cap 20.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
Similar Off Market Nearby
- Michi Florist — 4032 S Michigan Ave, Chicago, IL 60653, United States
FAQs
What type of property is this?
Storefront property - 12,000 SF commercial building in revitalizing Bronzeville neighborhood.
Where is this storefront property located?
The property is located at 418 E 43rd Street Chicago, IL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 12,000 sq ft of rentable space in a one‑story commercial building; Located on East 43rd Street in the revitalizing Bronzeville neighborhood; Zoned B3‑3, allowing for a wide range of business uses
