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    1659 Division St Chicago, IL 60622

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    7,500 SF, Chicago Retail Opportunity

    Property size:
    7,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use building, located at 1659 W Division St in Chicago's desirable Wicker Park neighborhood, presents a compelling investment opportunity. The 7,500 square foot, three-story property boasts a prime location directly across from Target, benefiting from high visibility and significant foot traffic exceeding 15,000 vehicles per day. Currently 20% occupied, the building offers substantial value-add potential through lease-up. A key component is the existing NNN lease with Wake N Bakery, securing 1,500 square feet of ground floor space through January 2032. The upper two floors comprise 13 rooms each, providing flexibility for various uses. Its strategic position near the heavily trafficked intersection of Division Street and Ashland Avenue (38,500 vehicles per day), coupled with proximity to the Kennedy Expressway (I-90/I-94) and the Division Blue Line "L" station (approximately two blocks away), ensures exceptional accessibility. The property is zoned B3-2: Community Shopping District. Built in 1890 and renovated in 2013, it sits on a 0.06-acre lot. The surrounding area is vibrant, featuring numerous established retailers including Jewel-Osco, Lowe's, Walgreens, and many popular restaurants and cafes. This presents a rare chance to acquire a well-positioned mixed-use asset in a thriving Chicago submarket.

    Property Features for 1659 Division St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    7,500 SF
    Lot Size
    2,614 SF

    Building Details

    Year Built/Renovated
    1890/2013

    HighLights

    • Excellent location at the signalized intersection of Ashland Ave and Division St (38,500 VPD).
    • 7,500 SF mixed‑use building, NNN leased to Wake N Bakery through January 2032.
    • Prime location near I‑90/I‑94 and the Division Blue Line "L" station.
    • Located two blocks west of the Division Blue Line "L" station.
    Property Profile Location Intelligence

    Current Use by Public Records

    Wake-N-Bakery Wicker Park Coffee Shop ホリデイ ジョーンズ Hotel Funk House Cabinet Maker

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6697678
    Latitude
    41.9030423

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    FAQs

    What type of property is this?
    Mixed-use property - 7,500 SF, Chicago Retail Opportunity
    Where is this mixed-use property located?
    The property is located at 1659 Division St Chicago, IL.
    What are key features of this property?
    This property features: Excellent location at the signalized intersection of Ashland Ave and Division St (38,500 VPD).; 7,500 SF mixed-use building, NNN leased to Wake N Bakery through January 2032.; Prime location near I-90/I-94 and the Division Blue Line "L" station.
    Request Owner's contact information
    1659 Division St Chicago, IL 60622
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    Realmo Value Estimation

    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.

    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.

    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
    1659 Division St Chicago, IL 60622
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