Uptown Chicago Redevelopment
822 West Wilson Avenue, Chicago, IL 60640
Two-story warehouse building in Chicago's Uptown neighborhood.
Type:Land
Property size:
10,766 SFLot size:
0.25 AcresPrice / SF:
$208/SF- Added:
- Mar 25, 2026
- Days on Market:
- 59
- Last Refresh:
- Mar 18 at 8:18 am
Property Features for 822 West Wilson Avenue
General Information
- Standard status
- Active
- Size
- 10,766 SF
- Lot size
- 0.25 Acres
- Property subtype
- Land
Listing agent Tom Svoboda
Listing office
Listing date Mar 25, 2026
Source Cbre
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 Tom Svoboda
HighLights
- Transit‑oriented development: Located just 0.5 miles from Wilson CTA Station (Red and Purple Lines) for an easy commute to Downtown Chicago.
- Flexible use/redevelopment potential: Suitable for industrial, flex use, adaptive reuse, or total redevelopment.
- Rear alley access: Beneficial for servicing and future multifamily development.
- Sizeable building: +/-12,625 SF two‑story warehouse building on a ±10,766 SF site.
- Uptown location: Situated in Chicago's Uptown neighborhood.
- Amenity access: Close proximity to Wrigley Field, Jewel‑Osco, Aldi, Mariano’s, and Sydney Marovitz Golf Course.
Overview
Located in Chicago's Uptown neighborhood, this property presents a flexible use opportunity, allowing for industrial, flex, adaptive reuse, or total redevelopment. The improved site spans approximately 10,766 square feet and features a two-story warehouse building with an area of approximately 12,625 square feet. The property benefits from rear alley access, which is advantageous for servicing and potential future multifamily development. It is situated approximately 0.5 miles, a 9-minute walk, from the Wilson CTA Station, providing access to the Red and Purple Lines. This transit-oriented infill development opportunity offers a 20–25 minute train ride to Downtown Chicago. The location also provides convenient access to amenities, including Wrigley Field, Jewel-Osco, Aldi, Mariano’s, and the Sydney Marovitz Golf Course.
Financial Insights
Value Estimation Calculated for Mixed Use
Conservative
$2.02M
NOI $181,676 @ 9.00% cap · cautious / downside scenario
Moderate
$2.60M
NOI $181,676 @ 7.00% cap · market / base-case scenario
Aggressive
$3.63M
NOI $181,676 @ 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 Mixed Use
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $323.0k | $30.00 |
| − Vacancy | −$32.3k | −$3.00 |
| EGI | $290.7k | $27.00 |
| − OpEx | −$109.0k | −$10.13 |
| NOI | $181.7k | $16.88 |
10,766 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Use Scenarios
Best Use
Mixed Use
$2.60M
$2.27M – $3.03M
NOI $181,676 @ 7.0% cap · market cap 8.07%
Second Best
Warehouse
$1.16M
$1.02M – $1.36M
NOI $81,549 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$5.08M
$4.44M – $5.92M
NOI $355,330 @ 7.0% cap · market cap 15.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6508804
- Latitude
- 41.9657863
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - Two-story warehouse building in Chicago's Uptown neighborhood.
Where is this commercial land located?
The property is located at 822 West Wilson Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Transit‑oriented development: Located just 0.5 miles from Wilson CTA Station (Red and Purple Lines) for an easy commute to Downtown Chicago.; Flexible use/redevelopment potential: Suitable for industrial, flex use, adaptive reuse, or total redevelopment.; Rear alley access: Beneficial for servicing and future multifamily development.
