Prime Retail Center in Hermosa

4300 W North Ave, Chicago, IL 60639

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For Sale

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100% leased retail center in Chicago's Hermosa neighborhood.

Type:Retail

Property size:

10,559 SF

Price / SF:

$215/SF

HighLights

100% leased to the City of Chicago, providing stable income.
Long‑term leases in place with established tenants: Chicago Public Library (until 2028) and Dept. of Family Services (until 2026).
Chicago Public Library has been a tenant since 1996, demonstrating stability.
Recent upgrades to the library including new lighting, carpeting, and painting.
Newer HVAC roof‑top units with service contract.
Well‑maintained property built in 1995.

We can help!

Listing Contact

Art Collazo

Learn more

For Sale

Contact for pricing

100% leased retail center in Chicago's Hermosa neighborhood.

Type:Retail

Property size:

10,559 SF

Price / SF:

$215/SF

Added:: Aug 19, 2023
Days on Market:: 1027
Last Refresh:: May 12 at 9:37 pm

Property Features for 4300 W North Ave

General Information

Standard status: Active
Size: 10,559 SF
Property subtype: Retail

Building Details

Year Built: 1995

We can help!

Listing Contact

Art Collazo

Listing agent Art Collazo License #IL 475131028

Listing office Jameson Commercial Real Estate

Listing date Aug 19, 2023

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 Jameson Commercial Real Estate

HighLights

100% leased to the City of Chicago, providing stable income.
Long‑term leases in place with established tenants: Chicago Public Library (until 2028) and Dept. of Family Services (until 2026).
Chicago Public Library has been a tenant since 1996, demonstrating stability.
Recent upgrades to the library including new lighting, carpeting, and painting.
Newer HVAC roof‑top units with service contract.
Well‑maintained property built in 1995.

Overview

This well-maintained retail center is located in the Hermosa neighborhood of Chicago. The property is 100% leased to the City of Chicago and has been under pride of ownership. It features two tenants: the Chicago Public Library, which has been a tenant since 1996 with a lease extending to 2028, and the Department of Family Services, a tenant since 2016 with a lease through 2026. The property features newer HVAC roof-top units under a service contract. Recent upgrades to the library include new lighting fixtures, carpeting, and painting. The library also includes a large kitchen area and a well-used large meeting room. The Department of Family Services had over $190,000 in build-out expenses. The property contains 10,559 square feet.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$234.4k	$22.20
− Vacancy	−$19.2k	−$1.82
EGI	$215.2k	$20.38
− OpEx	−$64.6k	−$6.11
NOI	$150.6k	$14.27

10,559 SF · lease $22.20/SF/yr · vacancy 8.20% · expense 30.00%

Alternative Uses

Best Use

Retail

$2.15M

$1.88M – $2.51M (±1% cap)

NOI $150,632 @ 7.0% cap · market cap 6.62%

Second Best

—

no second resolved use

Theoretical Best

Office A

$4.67M

$4.09M – $5.45M (±1% cap)

NOI $326,805 @ 7.0% cap · market cap 14.37%

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

Location Intelligence

Current Use by Public Records

Trina Davila Community ... City Government Office North Pulaski Branch, ... Public Library

Suggested Use

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Location Insight

Map
Local Demand

City: Chicago
County: Cook
State: Illinois
Longitude: -87.734332
Latitude: 41.910107

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For sale
Shopping centers
IL
Chicago
60639
4300 W North Ave

What type of property is this?

Shopping center - 100% leased retail center in Chicago's Hermosa neighborhood.

Where is this shopping center located?

The property is located at 4300 W North Ave Chicago, IL.

What is the asking price?

The asking price for this property is $2,275,000.

What are key features of this property?

This property features: 100% leased to the City of Chicago, providing stable income.; Long‑term leases in place with established tenants: Chicago Public Library (until 2028) and Dept. of Family Services (until 2026).; Chicago Public Library has been a tenant since 1996, demonstrating stability.