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    15 83Rd St Chicago, IL 60619

    For Sale
    $1,350,000

    High-visibility retail space, 5,200 sq ft, 39 parking spaces.

    Property size:
    5,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    367
    This exceptional retail property, located at 15-33 E. 83rd St in Chicago, Illinois, presents a unique investment opportunity. Boasting 5,200 square feet of space, this free-standing building offers unparalleled visibility at the intersection of the Dan Ryan Expressway and 83rd Street in the vibrant Chatham neighborhood. The property features a substantial amount of street-facing windows, maximizing natural light and providing excellent storefront appeal. Previously used as a restaurant, this second-generation space is well-suited for a variety of uses, including restaurants, medical or dental offices, or a co-working space. Ample parking is available with 39 spaces, a significant advantage in this location. The asking price for this prime retail space is $1,350,000. The property's address is 15 E 83rd St, Chicago, IL 60619, situated in Cook County. This location offers exceptional access to major transportation routes and a strong customer base. The property's size and prominent location make it an ideal investment for discerning buyers seeking a high-impact commercial property in a thriving Chicago neighborhood.

    Property Features for 15 83Rd St

    General Information

    Property type
    Retail properties
    Square Feet
    5,200 SF

    HighLights

    • 5,200 SF free‑standing retail building in Chicago's Chatham neighborhood.
    • High visibility corner location at Dan Ryan Expressway and 83rd Street.
    • Excellent storefront appeal with substantial street‑facing windows.
    • Second‑generation space suitable for various uses, including restaurants and medical offices.
    • Ample parking with 39 spaces.
    • Asking price: $1,350,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store 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
    -87.623639
    Latitude
    41.743402

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    FAQs

    What type of property is this?
    Retail property - High-visibility retail space, 5,200 sq ft, 39 parking spaces.
    Where is this retail property located?
    The property is located at 15 83Rd St Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: 5,200 SF free-standing retail building in Chicago's Chatham neighborhood.; High visibility corner location at Dan Ryan Expressway and 83rd Street.; Excellent storefront appeal with substantial street-facing windows.
    (312) 446-5018
    Request Owner's contact information
    15 83Rd St Chicago, IL 60619
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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
    15 83Rd St Chicago, IL 60619
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