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    Prime Corner Commercial Rental Opportunity Title is generated by Realmo AI

    4857 N Western Avenue, Chicago, IL 60625

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    Claim this Listing
    For Lease
    $27 SF/Yr $2,812/Mo (calc)

    Exceptional Lincoln Square commercial rental with high visibility and natural light.

    Type:Commercial
    Property size:
    1,250 SF
    Added:
    Oct 29, 2025
    Days on Market:
    221
    Last Refresh:
    Apr 5 at 11:34 pm

    Property Features for 4857 N Western Avenue

    General Information

    Standard status
    Active
    Size
    1,250 SF
    Property subtype
    Commercial

    We can help!

    Listing Contact
    SHARON BOGETZ

    Listing agent SHARON BOGETZ

    Listing office CENTURY 21 UNIVERSAL

    Listing date Oct 29, 2025

    Source Corcoran

    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 CENTURY 21 UNIVERSAL

    HighLights

    • Prime corner location at a stoplight on N Western Ave, Lincoln and Ainslie, across from St. Matthias School and McDonald's, ensuring high foot and car traffic.
    • Professionally built‑out interior with six rooms, suitable for various businesses and adaptable to different needs.
    • Turnkey space previously used as a dental office, potentially saving on setup time and costs.
    • Illuminated sign for maximum exposure and a street‑level storefront for lasting impressions.
    • Abundant natural light throughout the unit due to high windows in every room.
    • Full height basement allowing for inexpensive changes to the plumbing and electrical if needed.

    Overview

    This Lincoln Square commercial rental unit offers an opportunity for businesses seeking prominence and visibility. Positioned at the intersection of N Western Ave, Lincoln, and Ainslie, the property is situated at a stoplight directly across from St. Matthias School and McDonald's, ensuring a steady flow of pedestrian and car traffic. The 1,250 sq ft unit features an illuminated sign for maximum exposure. High windows in every room provide abundant natural light, creating a welcoming atmosphere while maintaining privacy. The interior showcases a professional build-out, ideal for various businesses, including dental and medical practices. The space is move-in ready, allowing for immediate occupancy. With six well-appointed rooms, the rental unit offers versatility to accommodate a range of business needs, suitable for office space, a medical facility, or a retail establishment. The building has a full-height basement, allowing for inexpensive changes to the plumbing and electrical if needed. Previously utilized as a dental office, the turnkey space includes plumbing and electrical, offering businesses the opportunity to maximize setup time and costs. There are three treatment rooms expendable to four. Street parking is available, and the property is on major bus routes. Dental equipment availability and use is negotiable.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

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

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

    Similar Places Nearby

    • Lincoln Square Animal Hospital — 4501 N Lincoln Ave, Chicago, IL 60625
    • Ravenswood Animal Hospital LLC — 2752 W Montrose Ave, Chicago, IL 60618
    • BLVD Vet Ravenswood — 4646 N Damen Ave, Chicago, IL 60625
    • BLVD Cat — 4646 N Damen Ave, Chicago, IL 60625
    • Animal House of Chicago — 2752 W Lawrence Ave Unit #3, Chicago, IL 60625

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6886
    Latitude
    41.9703

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    FAQs

    What type of property is this?
    Medical Office Space - Exceptional Lincoln Square commercial rental with high visibility and natural light.
    Where is this medical office space located?
    The property is located at 4857 N Western Avenue Chicago, IL.
    What is the lease rate?
    The lease rate is $27 SF/Yr.
    What are key features of this property?
    This property features: Prime corner location at a stoplight on N Western Ave, Lincoln and Ainslie, across from St. Matthias School and McDonald's, ensuring high foot and car traffic.; Professionally built‑out interior with six rooms, suitable for various businesses and adaptable to different needs.; Turnkey space previously used as a dental office, potentially saving on setup time and costs.
    (773) 465-0300
    We can help!
    Listing Contact
    SHARON BOGETZ
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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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