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    3014 Irving Park Rd Chicago, IL 60618

    Sponsored
    For Sale
    $1,100,000

    Chicago Multifamily & Retail Opportunity

    Property size:
    7,267 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property at 3014 W Irving Park Road, Chicago, IL 60618, presents a compelling investment opportunity. The 7,267 square foot building sits on a 5,850 square foot lot and boasts a prime location with over 41,000 cars passing daily. The property features a thriving retail space fully occupied by Windy City Playhouse, a well-established theater with a substantial, nearly $1,000,000 build-out, including a bar, stage, seating, dressing rooms, kitchen, and extensive lighting. Windy City Playhouse is secured by a seven-year lease (commencing 2015) with a five-year extension option, ensuring stable income. In addition to the retail space, the building includes three residential units, all recently renovated with updated mechanicals, plumbing, and modern finishes. The property is classified as a Class B, stabilized investment with a modified lease structure and 100% occupancy. The asking price is $1,100,000, translating to $151.37 per square foot. This two-story building offers a unique blend of retail and multifamily income streams, making it an attractive addition to any portfolio. The property's strong tenant, prime location, and recent renovations make it a truly exceptional investment opportunity.

    Property Features for 3014 Irving Park Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    7,267 SF
    Class
    B

    Building Details

    Buildings
    1
    Stories
    2
    Units
    3

    HighLights

    • Exceptional mixed‑use investment opportunity at 3014 W Irving Park Rd, Chicago, IL.
    • 7,267 SF building on a 5,850 SF lot with high traffic (41,000+ cars daily).
    • Fully occupied by Windy City Playhouse (7‑year lease, 5‑year option) with substantial build‑out.
    • Includes three renovated residential units.
    • Class B, stabilized investment with 100% occupancy; $1,100,000 asking price ($151.37/SF).
    Property Profile Location Intelligence

    Current Use by Public Records

    Windy City Playhouse Performing Arts Theater Invictus Theatre Company Performing Arts Theater

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.70373372
    Latitude
    41.95391593

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    FAQs

    What type of property is this?
    Individual retail property - Chicago Multifamily & Retail Opportunity
    Where is this individual retail property located?
    The property is located at 3014 Irving Park Rd Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Exceptional mixed-use investment opportunity at 3014 W Irving Park Rd, Chicago, IL.; 7,267 SF building on a 5,850 SF lot with high traffic (41,000+ cars daily).; Fully occupied by Windy City Playhouse (7-year lease, 5-year option) with substantial build-out.
    Request Owner's contact information
    3014 Irving Park Rd Chicago, IL 60618
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    Chicago, IL 60618
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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
    3014 Irving Park Rd Chicago, IL 60618
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