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    Iconic Venue on Weed Street Title is generated by Realmo AI

    940 W Weed St, Chicago, IL

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    Trophy retail asset occupied by Joe’s on Weed.

    Type:RETAIL
    Property size:
    18,512 SF
    Lot size:
    0.20 Acres
    Price / SF:
    $216/SF
    Added:
    Sep 1, 2025
    Days on Market:
    284
    Last Refresh:
    May 20 at 8:24 pm

    Property Features for 940 W Weed St

    General Information

    Standard status
    Active
    Size
    18,512 SF
    Lot size
    0.20 Acres
    Property subtype
    RETAIL

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    Listing Contact
    Joe Girardi

    Listing agent Joe Girardi

    Listing office Mid-America Real Estate Group | Chicago

    Listing date Sep 1, 2025

    Source Moodyscre

    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 Mid-America Real Estate Group | Chicago

    HighLights

    • Trophy retail asset
    • Longstanding tenant: Joe’s on Weed
    • Iconic live music venue, bar, and restaurant
    • Opportunity to acquire
    • Located at 940 West Weed Street

    Overview

    The property at 940 West Weed Street is a retail asset occupied by Joe’s on Weed, a live music venue, bar, and restaurant. The property is 18,512 square feet and is suitable for bars, restaurants, retail, conventional restaurants, theaters and concert halls, and sports and entertainment purposes.

    Local Financial Insights For Specialty 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 $488.7k $26.40
    − Vacancy −$29.3k −$1.58
    EGI $459.4k $24.82
    − OpEx −$114.8k −$6.20
    NOI $344.5k $18.61
    18,512 SF · lease $26.40/SF/yr · vacancy 6.00% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $4.92M
    $4.31M – $5.74M (±1% cap)
    NOI $344,545 @ 7.0% cap · market cap 8.61%
    Second Best
    Retail
    $3.66M
    $3.20M – $4.27M (±1% cap)
    NOI $256,110 @ 7.0% cap · market cap 6.40%
    Theoretical Best
    Office A
    $8.73M
    $7.64M – $10.18M (±1% cap)
    NOI $610,985 @ 7.0% cap · market cap 15.27%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    sdaasedsa Bar & Pub Joe's on Weed St. Bar & Pub

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Шаурма укр кафе Hamburger — 1141 N Ashland Ave, Chicago, IL 60642
    • Chopin Theatre — 1543 W Division St, Chicago, IL 60642
    • Arabia Cafe Hookah Lounge — 1046 N Milwaukee Ave, Chicago, IL 60642
    • Frontier — 1072 N Milwaukee Ave, Chicago, IL 60642
    • Frosty's Christmas Bar Chicago — 809 W Evergreen Ave, Chicago, IL 60642

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6522
    Latitude
    41.9101

    FAQs

    What type of property is this?
    Bar & Pub - Trophy retail asset occupied by Joe’s on Weed.
    Where is this bar & pub located?
    The property is located at 940 W Weed St Chicago, IL.
    What is the asking price?
    The asking price for this property is $4,000,000.
    What are key features of this property?
    This property features: Trophy retail asset; Longstanding tenant: Joe’s on Weed; Iconic live music venue, bar, and restaurant
    (630) 954-7327 Call to check price and availability
    More about this property
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