Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7162 W Grand Ave, Unit 1EW Chicago, IL 60707

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    High-end retail spaces with modern buildout in Montclare neighborhood.

    Lot size:
    6,125.00 Acres

    Property Features for 7162 W Grand Ave

    General Information

    Standard status
    Active
    Zoning
    COMMR
    Lot size
    6,125.00 Acres

    Building Details

    Year built
    2006

    We can help!

    Listing Contact
    Mike Levin
    Source: Crexi

    Listing Agency: @properties Commercial Listing Agent: Mike Levin

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Grand Avenue Retail Spaces For Sale

    These masonry commercial retail spaces on Grand Avenue are available for sale. Currently configured as two high-end retail hair care salons, the units feature a modern buildout. Each unit is approximately 1,270 square feet, totaling 2,540 square feet, with 50 feet of frontage along Grand Avenue. The existing buildout includes a reception waiting area, hair stations, pedicure chairs, nail stations, facial beds, shampoo sinks, massage rooms, a laundry room with a washer and dryer, a full bath with a waterfall shower, and three bathrooms. The property is well-maintained and equipped with high-security entrance doors and cameras. The zoning is C1-2. The property has parking in front and close neighborhood parking. Grand Avenue sees approximately 19,000 vehicles per day (VPD). The building utilizes a 200+ amp electric system. Located in the Montclare Neighborhood, this property is suitable for retail, office, or professional use, such as a law firm, insurance agency, technology company, financial trading firm, real estate office, or accounting office, or continue as a high end hair salon operation.
    Location Intelligence

    Current Use by Public Records

    Rudina Fryzjerka Cafe & Coffee Shop Andre Napier Salon Hair Salon Chicago microblading by ... Medical Clinic Evelyn Transforms Hair Hair Salon Charo's Hair Design ... Hair Salon

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.8051215
    Latitude
    41.9241193

    Nearby Similar for Sale

    • $774,888
      4,300 SF

      Turnkey Restaurant Space in River North

      Fully equipped restaurant space in Chicago's River North neighborhood.
      416 W Ontario St, Chicago, IL 60654
      View Details
    • New
      $349,900
      2,600 SF

      Chicago Commercial Space with Visibility

      Versatile office space ideal for medical or professional services.
      8036 S Western Ave, Chicago, IL 60620
      View Details
    • $499,000
      9,000 SF

      Chicago Commercial Space for Sale

      Versatile commercial space in bustling North Austin neighborhood.
      5101 W Division St, Chicago, IL 60651
      View Details
    • New
      $749,000
      10,000 SF

      Corner Banquet Hall Opportunity

      Prime Chicago location ideal for redevelopment or adaptive reuse.
      2759 N Oak Park Ave, Chicago, IL 60707
      View Details
    • $550,000
      10,500 SF

      Mixed-Use Commercial Property in Chicago

      10,500 sq ft mixed-use property in high-traffic area.
      4231 W Madison St, Chicago, IL 60624
      View Details
    • $625,000
      4,593 SF

      Fulton River District Commercial Loft

      Classic timber loft in Fulton River District, Chicago.
      566 W Lake St, Chicago, IL 60661
      View Details
    • $1,000,000
      4,055 SF

      Turnkey Mixed-Use Chicago Opportunity

      Renovated bar, restaurant, pizzeria, and apartment in Chicago.
      7455 W Irving Park Rd, Chicago, IL 60634
      View Details
    • $329,000
      6,000 SF

      Chicago Commercial Building on Laramie

      Commercial building in Belmont Cragin neighborhood with warehouse and office space.
      2840 N Laramie Ave, Chicago, IL 60641
      View Details
    • New
      $999,000
      0.14 Acres

      Bucktown Retail Property For Sale

      Fully leased retail property in Chicago's Bucktown neighborhood.
      1915-1917 N Damen Ave, Chicago, IL 60647
      View Details
    • $675,000

      Brighton Park Commercial Strip Center

      Well-maintained commercial strip center in high-traffic location, fully leased.
      4044-48 S Archer Ave, Chicago, IL 60632
      View Details
    • $779,900
      0.34 Acres

      Chicago Commercial Brick Storefronts For Sale

      Income-producing commercial property with long-term tenants on a busy corner.
      5600 W Division St, Chicago, IL 60651
      View Details
    • New
      $375,000
      0.07 Acres

      Mixed-Use Commercial Property in Chicago

      Mixed-use property with retail spaces in Chicago's Woodlawn neighborhood.
      6501 S Saint Lawrence Ave, Chicago, IL 60637
      View Details

    FAQs

    What type of property is this?
    Retail space - High-end retail spaces with modern buildout in Montclare neighborhood.
    Where is this retail space located?
    The property is located at 7162 W Grand Ave, Unit 1EW Chicago, IL.
    What are key features of this property?
    This property features: - High-end, modern buildout currently configured as two hair salons, ready for immediate operation or easy adaptation.; - Prime location on Grand Ave with high visibility (19,000 VPD) and ample parking.; - Two combined units totaling 2,540 sq ft with 50 ft of frontage, offering substantial retail space.
    Request Owner's contact information
    7162 W Grand Ave, Unit 1EW Chicago, IL 60707
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7162 W Grand Ave, Unit 1EW
    Chicago, IL 60707
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    7162 W Grand Ave, Unit 1EW Chicago, IL 60707
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Mike Levin
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!