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    1147 Wells St Chicago, IL 60610

    Sponsored
    For Sale
    $449,000

    2,555 SF Storefront - $449,000

    Property size:
    2,555 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 2,555 square foot retail condo is ideally situated in Chicago's vibrant Old Town neighborhood, just off Division Street. Currently operating as a nail salon, this space presents a fantastic opportunity for a new salon owner or a business seeking a high-visibility location. The property is a commercial condo, offering the benefits of ownership. Its prime location within a high-density, high-traffic area ensures significant foot traffic and exposure. The convenience of the Red Line train station just one block east further enhances accessibility for customers and employees. The address is 1147 N Wells St, Chicago, IL 60610, in Cook County. This property boasts a strategic position to capitalize on the bustling activity of Old Town. The asking price for this turnkey opportunity is $449,000. Serious inquiries only; please respect the privacy of the current tenant. This is a rare chance to acquire a thriving retail space in a highly desirable Chicago location. The property's size and location make it suitable for a variety of retail uses. The building is well-maintained and situated in a thriving commercial corridor. This is an excellent investment opportunity for those seeking a strong return in a prime Chicago location.

    Property Features for 1147 Wells St

    General Information

    Property type
    Individual retail properties
    Square Feet
    2,555 SF

    HighLights

    • $449,000 asking price.
    • 2,555 square foot storefront retail condo.
    • Located at 1147 N Wells St, Chicago, IL 60610.
    • Prime Old Town location near Division Street and the Red Line.
    • Currently operating as a nail salon, ideal for a similar business or conversion.
    • High‑density, high‑traffic area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Crystal Nails Nail Salon

    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
    -87.6343282
    Latitude
    41.9035185

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    FAQs

    What type of property is this?
    Individual retail property - 2,555 SF Storefront - $449,000
    Where is this individual retail property located?
    The property is located at 1147 Wells St Chicago, IL.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: $449,000 asking price.; 2,555 square foot storefront retail condo.; Located at 1147 N Wells St, Chicago, IL 60610.
    Request Owner's contact information
    1147 Wells St Chicago, IL 60610
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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
    1147 Wells St Chicago, IL 60610
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