Established Retail Building in
For Sale
Contact for pricing
5301 N Harlem Ave, Chicago, IL 60656
3,234 SF retail building in Chicago with high visibility.
Property Size3,234 SF
Price / SF$371.06
Days on Market857
Property Features for 5301 N Harlem Ave
General Information
Standard status
Active
Size
3,234 SF
Total Parking Spaces
5
Property subtype
Retail
Zoning
1
Occupancy
100%
Lease Type
NNN
Investment Type
Core
Net Operating Income
$72,526
Building Details
Year Built
1963
Stories
1
Tenancy
Single
Listing Agency:
Brian Properties, Inc.
Listed By:
Scott Whisler · License #IL
(847) 727-4287
Source:
Crexi
Added: Jun 2, 2024
Changed: Oct 3
Last Checked: Oct 5 at 7:36PM
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 Brian Properties, Inc.
Investment Insights
Based on property information with market context.
This 3,234 SF retail building, established in 1963, presents an investment opportunity. Zoned for various commercial uses, the property is currently 100% occupied with a lease from JC Licht. The location in Chicago provides high visibility, easy accessibility, and signage opportunities. Its infrastructure and proximity to major transportation routes and public transit enhance its appeal within the retail landscape.
Key Highlights
- 100% Occupancy with Lease from JC Licht: Guarantees immediate returns.
- Prime Chicago Location: Offers high visibility and easy accessibility.
- Zoned B‑1: Accommodates various commercial uses.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,742
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$894,840
$894.8K
Cap Rate 7%
$639,171
$639.2K
Cap Rate 9%
$497,133
$497.1K
Market Conditions
NOI Build-Up for 3,234 SF
Gross rent
$69.9K $21.60/SF
− Vacancy
−$5.9K −$1.84/SF
EGI
$63.9K $19.76/SF
− OpEx
−$19.2K −$5.93/SF
NOI
$44.7K $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%
$894,840
Cap Rate 7%
$639,171
Cap Rate 9%
$497,133
Alternative Uses
Best Use
Retail
$639.2K
$559.3K – $745.7K
NOI $44,742 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,738 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
869
Businesses Nearby
259k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 30%
Groceries 23%
Home Improvements & Furnishings 2%
Jewel-Osco
Groceries
53,010 visits/mo
0.3 miles
McDonald's
Dining
35,329 visits/mo
0.4 miles
Starbucks
Dining
23,759 visits/mo
0.4 miles
Wendy's
Dining
21,640 visits/mo
0.2 miles
Dollar Tree
Shops & Services
21,611 visits/mo
0.2 miles
Demographics for 60656, IL
28,474
Population
12,840
Households
2.2
Avg Household Size
40
Median Age
42%
College-Educated
92%
High-School Grad
3.2 sq mi
ZIP Area
8,898
Density / Sq Mi
$88,000
Median Household Income
$54,639
Median Earnings
$1,388
Median Rent
$344,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 3,234 SF retail building in Chicago with high visibility.
Where is this retail space located?
The property is located at 5301 N Harlem Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 100% Occupancy with Lease from JC Licht: Guarantees immediate returns.; Prime Chicago Location: Offers high visibility and easy accessibility.; Zoned B‑1: Accommodates various commercial uses.
