Retail Condo with Storage
655 W Irving Park Rd Chicago, IL 60613
For Sale
Contact for pricing
Portfolio includes a 1,500 SF retail condo plus income-generating laundry machines and private storage lockers.
Property Size3,500 SF
Price / SF$428.57
Days on Market66
Property Features for 655 W Irving Park Rd
General Information
Standard status
Active
Size
3,500 SF
Property subtype
OFFICE
Listing Agency:
Jameson Commercial
(312) 840-9002
Listed By:
Steven Goldstein
Source:
Moodyscre
Added: May 25
Changed: Jul 28
Last Checked: Jul 28 at 2:34PM
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.
A set of commercial condo offerings at 655 W Irving Park includes a 1,500 SF retail condo available for sale. Additional income-producing components include 82 laundry machines generating $408,000 annually (subject to offer) and 150 private storage lockers generating $96,000 annually (subject to offer).
The availability list also includes 56th floor commercial office & storage space and two 56th floor penthouse units, including Penthouse A (3,500 SF) and Penthouse B (1,500 SF), each offered for sale.
Collectively, the configuration provides multiple distinct condo options spanning retail, office/storage, and penthouse space, along with operational laundry and storage components.
The availability list also includes 56th floor commercial office & storage space and two 56th floor penthouse units, including Penthouse A (3,500 SF) and Penthouse B (1,500 SF), each offered for sale.
Collectively, the configuration provides multiple distinct condo options spanning retail, office/storage, and penthouse space, along with operational laundry and storage components.
Key Highlights
- Portfolio includes a 1,500 SF retail condo at 655 Irving Park for sale at $475,000
- 82 laundry machines generating $408,000 annually
- 150 private storage lockers generating $96,000 annually
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $134.4k | $38.40 |
| − Vacancy | −$34.3k | −$9.79 |
| EGI | $100.1k | $28.61 |
| − OpEx | −$25.0k | −$7.15 |
| NOI | $75.1k | $21.46 |
3,500 SF · lease $38.40/SF/yr · vacancy 25.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.07M
$938.7K – $1.25M
NOI $75,096 @ 7.0% cap · market cap 5.01%
Second Best
Retail
$691.7K
$605.3K – $807.0K
NOI $48,422 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$1.65M
$1.44M – $1.93M
NOI $115,517 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Portfolio includes a 1,500 SF retail condo plus income-generating laundry machines and private storage lockers.
Where is this office units located?
The property is located at 655 W Irving Park Rd Chicago, IL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Portfolio includes a 1,500 SF retail condo at 655 Irving Park for sale at $475,000; 82 laundry machines generating $408,000 annually; 150 private storage lockers generating $96,000 annually
