Grand Avenue Retail Spaces For
7162 W GRAND Avenue 1EW, Chicago, IL 60707
High-end retail spaces with modern buildout in Montclare neighborhood.
Type:Retail
Property size:
2,540 SFPrice / SF:
$246/SF- Added:
- Feb 24, 2026
- Days on Market:
- 81
- Last Refresh:
- Mar 17 at 1:17 pm
Property Features for 7162 W GRAND Avenue 1EW
General Information
- Standard status
- Active
- Size
- 2,540 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2006
Listing agent Mike Levin License #IL
Listing office @properties Commercial
Listing date Feb 24, 2026
Source Crexi
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 @properties Commercial
HighLights
- 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.
- Versatile C1‑2 zoning suitable for retail, office, or professional services.
- Equipped with high‑security entrance doors and cameras for enhanced safety.
- Includes specialized salon equipment: hair stations, pedicure chairs, nail stations, facial beds, shampoo sinks, and massage rooms.
Overview
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.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$390.4K
NOI $35,140 @ 9.00% cap · cautious / downside scenario
Moderate
$502.0K
NOI $35,140 @ 7.00% cap · market / base-case scenario
Aggressive
$702.8K
NOI $35,140 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.9k | $21.60 |
| − Vacancy | −$4.7k | −$1.84 |
| EGI | $50.2k | $19.76 |
| − OpEx | −$15.1k | −$5.93 |
| NOI | $35.1k | $13.83 |
2,540 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$502.0K
$439.3K – $585.7K
NOI $35,140 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,832 @ 7.0% cap · market cap 13.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
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
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.8051215
- Latitude
- 41.9241193
Nearby Similar for Sale
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 Avenue 1EW Chicago, IL.
What is the asking price?
The asking price for this property is $625,000.
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.
