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    Chicago Retail/Office Space Available Title is generated by Realmo AI

    4254 W 55th Street, Chicago, IL 60632

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    COMMERCIAL - Chicago, IL

    Type:Office
    Added:
    Dec 11, 2025
    Days on Market:
    160
    Last Refresh:
    May 20 at 8:06 pm

    Property Features for 4254 W 55th Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1959
    Floors in Building
    2

    We can help!

    Listing Contact
    Anthony Lucio

    Listing agent Anthony Lucio License #475165960

    Listing office Keller Williams Preferred Realty 16101 108th Ave, Orland Park, IL

    Listing date Dec 11, 2025

    MLS# 12531155

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑traffic location on 55th Street near Midway Airport with 13,000 Avg Daily Traffic.
    • Zoned B1‑1, suitable for a variety of businesses.
    • Well‑maintained 1600 sq. ft. space with ample natural light and open layout.
    • Includes divided behind‑the‑counter area and secured employee storeroom.
    • Potential access to an additional 700 sq. ft. basement space.
    • Previously used as a pharmacy, ideal for similar businesses.

    Overview

    This well-maintained commercial space, totaling 1,600 square feet, is available for lease. The property is zoned B1-1 and features abundant natural light and a wide-open layout. A divided area behind the counter and a secured storeroom for employees are included, with ample cabinet space, seating, and a handwashing area. There is potential access to a basement offering nearly 700 square feet of additional space. Previously occupied by a pharmacy, the space is suitable for a pharmacy, drugstore, neighborhood corner store, cell phone carrier, or other wellness services. It can also accommodate other businesses such as insurance, real estate, finance, lending, or other professional offices and administrative workspaces. Located on busy 55th Street near Midway Airport, the property benefits from high traffic in an area mixed with residential and commercial activity. According to IDOT, the average daily traffic is 13,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Michelle Rojas MD Pediatrician Elsdon Medical Pharmacy Pharmacy Patricia Arroyo MD Pediatrician Manuel O Rojas ... Pediatrician Practice Limited Pediatrics Pediatrician

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

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

    Similar Places Nearby

    • Matthew Ochocinski, PharmD — 5435 S Kedzie Ave, Chicago, IL 60632
    • Mexicare Pharmacy Iii — 5901 S Troy St, Chicago, IL 60629
    • Wendy Lange — 5435 S Kedzie Ave, Chicago, IL 606322642
    • Sports nutrition store — 5558 S Kedzie Ave, Chicago, IL 60629
    • Core Supplements Kedzie — 5558 S Kedzie Ave, Chicago, IL 60629

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7302324
    Latitude
    41.7934213

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    FAQs

    What type of property is this?
    Drug store - Well-maintained commercial space suitable for retail or office use.
    Where is this drug store located?
    The property is located at 4254 W 55th Street Chicago, IL.
    What are key features of this property?
    This property features: High‑traffic location on 55th Street near Midway Airport with 13,000 Avg Daily Traffic.; Zoned B1‑1, suitable for a variety of businesses.; Well‑maintained 1600 sq. ft. space with ample natural light and open layout.
    (708) 798-1111
    We can help!
    Listing Contact
    Anthony Lucio
    Real Estate License ID: 475165960
    Learn More
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    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.

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