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    1973 Lawrence Ave Chicago, IL 60640

    For Lease
    $34 SF/Yr ($14,563 /Mo)

    Prime Chicago Retail, High Traffic

    Lot size:
    5,140 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 1,550-square-foot retail space is ideally situated at the highly visible corner of Lawrence and Damen Avenues in Chicago's vibrant Ravenswood neighborhood, bordering Lincoln Square. Boasting a prime location with over 27,000 vehicles passing daily, this single-tenant property offers excellent street frontage on both Lawrence and Damen. The building itself comprises 5,140 square feet across two stories, with the retail space occupying the ground floor. Its B1-2 zoning allows for a variety of uses, making it suitable for a coffee shop, cafe, small restaurant, medical or dental office, or other retail businesses. The property benefits from its proximity to public transportation, including the Damen Brown Line CTA station and the Ravenswood Metra station, both within a two-block radius, providing easy access to downtown Chicago. Nearby amenities include Winnemac Park and established businesses such as CVS, Bank of America, and Mariano's. The space is immediately available. This location is perfect for businesses seeking high visibility and convenient access to a thriving, densely populated area known for its young families and professionals. The address is 1973 W Lawrence Ave, Chicago, IL 60640.

    Property Features for 1973 Lawrence Ave

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,140 SF
    Total Rate
    14563.33

    Building Details

    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Size
    1,550 SF
    Rate per SF
    $34

    HighLights

    • High‑visibility corner retail space in Ravenswood's desirable Damen Avenue corridor.
    • 1,550‑square‑foot ground floor retail space with 80 feet of frontage on Damen Avenue.
    • Situated at a signalized intersection, offering excellent visibility at the hard corner of Lawrence and Damen Avenues.
    • High daily traffic counts exceeding 21,000 vehicles.
    • Located in a high‑income area with average household incomes exceeding $100,000.
    • Excellent signage opportunities.
    Property Profile Location Intelligence

    Current Use by Public Records

    T-Mobile Cell Phone Store Wireless Vision Cell Phone Store

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon 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
    -87.679077987678
    Latitude
    41.968737453345

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    FAQs

    What type of property is this?
    Individual retail property - Prime Chicago Retail, High Traffic
    Where is this individual retail property located?
    The property is located at 1973 Lawrence Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $34 SF/Yr.
    What are key features of this property?
    This property features: High-visibility corner retail space in Ravenswood's desirable Damen Avenue corridor.; 1,550-square-foot ground floor retail space with 80 feet of frontage on Damen Avenue.; Situated at a signalized intersection, offering excellent visibility at the hard corner of Lawrence and Damen Avenues.
    Request Owner's contact information
    1973 Lawrence Ave Chicago, IL 60640
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    Chicago, IL 60640
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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
    1973 Lawrence Ave Chicago, IL 60640
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