Building Details

Building Size 5,931 SF

Year Built 1913

Listing Agency: Jameson Commercial

Listed By: Mark Jones · License #475107431 Show Phone

Source: Thebrokerlist

Added: Jul 23 Changed: Oct 13 Last Checked: Oct 24 at 1:33PM

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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.

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 / Yr

$82,054

Cap Rate

4.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,641,080 $1.6M

Cap Rate 7%

$1,172,200 $1.2M

Cap Rate 9%

$911,711 $911.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,931 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $195,751 @ 7.0% cap · market cap 10.31%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Law Firm Hotel & Motel Spa & Massage Center (Bike/Boat/Book/etc) Store Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

9.1% 2019

9.2% 2020

8.8% 2021

8.1% 2022

7% 2023

6.6% 2024

7.4% 2025

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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