Two-Unit Retail
For Sale
$1,899,000
4817-4819 W Irving Park Rd, Chicago, IL 60641
For sale retail storefront property with two street-level units at 4817–4819 W Irving Park Rd in Chicago.
Property Size5,931 SF
Days on Market48
Property Features for 4817-4819 W Irving Park Rd
General Information
Standard status
Active
Size
5,931 SF
Property subtype
Free Standing Building
Building Details
Building Size
5,931 SF
Year Built
1913
Listing Agency:
Jameson Commercial
Listed By:
Mark Jones · License #475107431
(312) 335-3229
Source:
Thebrokerlist
Added: Jul 23
Changed: Aug 28
Last Checked: Sep 7 at 4:37AM
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 Commercial
Investment Insights
Based on property information with market context.
Available for sale, this retail storefront property includes two street-level units at 4817–4819 W Irving Park Rd in Chicago, IL 60641. The asset falls within the storefront and retail property categories, offering a straightforward configuration for businesses seeking individual street-facing spaces.
The property’s address places it along W Irving Park Rd, providing direct neighborhood access within the surrounding commercial corridor. This offering is well suited for buyers looking for a retail-oriented building with multiple units.
Please contact us for additional details on the specific unit configurations and finishes available within the two storefront spaces.
The property’s address places it along W Irving Park Rd, providing direct neighborhood access within the surrounding commercial corridor. This offering is well suited for buyers looking for a retail-oriented building with multiple units.
Please contact us for additional details on the specific unit configurations and finishes available within the two storefront spaces.
Key Highlights
- Retail storefront property built in 1913
- Two street‑level units at 4817–4819 W Irving Park Rd in Chicago
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$82,054
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,641,080
$1.6M
Cap Rate 7%
$1,172,200
$1.2M
Cap Rate 9%
$911,711
$911.7K
Market Conditions
NOI Build-Up for 5,931 SF
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.
Gross rent
$128.1K $21.60/SF
− Vacancy
−$10.9K −$1.84/SF
EGI
$117.2K $19.76/SF
− OpEx
−$35.2K −$5.93/SF
NOI
$82.1K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,641,080
Cap Rate 7%
$1,172,200
Cap Rate 9%
$911,711
Alternative Uses
Best Use
Retail
$1.17M
$1.03M – $1.37M
NOI $82,054 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.80M
$2.45M – $3.26M
NOI $195,751 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,996
Businesses Nearby
199k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Apparel 33%
Dining 29%
Home Improvements & Furnishings 1%
Marshalls
Apparel
50,242 visits/mo
0.2 miles
Culver's
Dining
23,761 visits/mo
0.2 miles
Dollar Tree
Shops & Services
23,411 visits/mo
0.2 miles
dd's DISCOUNTS
Shops & Services
19,227 visits/mo
0.1 miles
Chipotle Mexican Grill
Dining
15,781 visits/mo
0.1 miles
Demographics for 60641, IL
69,354
Population
27,377
Households
2.5
Avg Household Size
37
Median Age
36%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
17,339
Density / Sq Mi
$81,649
Median Household Income
$46,376
Median Earnings
$1,249
Median Rent
$373,200
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Lorch Bros. Flowers — 4936 W Irving Park Rd, Chicago, IL 60641
- Romance Flowers and Details — 4264 W Irving Park Rd, Chicago, IL 60641
Frequently Asked Questions
What type of property is this?
Storefront property - For sale retail storefront property with two street-level units at 4817–4819 W Irving Park Rd in Chicago.
Where is this storefront property located?
The property is located at 4817-4819 W Irving Park Rd Chicago, IL.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: Retail storefront property built in 1913; Two street‑level units at 4817–4819 W Irving Park Rd in Chicago
