1147 N Wells St, Chicago, IL 60610
Commercial condo in high-traffic Old Town location.
- Added:
- May 14, 2024
- Days on Market:
- 760
- Last Refresh:
- May 12 at 10:39 pm
Property Features for 1147 N Wells St
General Information
- Standard status
- Active
- Size
- 2,555 SF
- Property subtype
- Retail
Listing agent Art Collazo License #IL 475131028
Listing office Jameson Commercial Real Estate
Listing date May 14, 2024
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
- Prime Old Town location just off Division St.
- High‑density, high‑traffic area
- One block from Red Line train stop
- Ideal for a new salon owner
- Suitable for transforming into a new business
- Commercial condo retail space
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.2k | $21.60 |
| − Vacancy | −$4.7k | −$1.84 |
| EGI | $50.5k | $19.76 |
| − OpEx | −$15.1k | −$5.93 |
| NOI | $35.3k | $13.83 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6341301
- Latitude
- 41.9034682
