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    5301 Harlem Ave Chicago, IL 60656

    Sponsored
    For Sale
    $1,200,000

    Chicago storefront, 6.04% cap rate.

    Property size:
    3,234 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Chicago retail investment presents a compelling opportunity. The 3,234 square foot storefront, located at 5301-5305 N. Harlem Ave., Chicago, IL 60656, is fully occupied by JC Licht under a NNN lease with a corporate guarantee. The lease commenced May 1, 2019, and has a remaining term of approximately 4.4 years, expiring March 31, 2029. The property boasts a strong 6.04% cap rate, generating a net operating income (NOI) of $72,526. Built in 1963, this single-story building sits on a 3,284 square foot lot and includes 5 parking spaces. The asking price is $1,200,000, translating to a price per square foot of $371.06. The property is zoned for commercial use (zoning 1) and benefits from high visibility and accessibility due to its prime location. This investment offers immediate income and strong potential for future growth in the thriving Chicago market. The property's location provides easy access to major transportation routes and public transit. This is a core investment opportunity with 100% occupancy since May 1, 2019. The Cook County property (APN: 13071220080000) presents a rare chance to acquire a stable, high-performing retail asset.

    Property Features for 5301 Harlem Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    3,234 SF

    Building Details

    Year Built
    1963
    Stories
    1

    HighLights

    • 3,234 SF retail building.
    • Excellent Chicago location.
    • Fully occupied, providing immediate cash flow.
    • Well‑maintained with high curb appeal.
    • High visibility and accessibility.
    • Convenient to major transportation and public transit.
    Property Profile Location Intelligence

    Current Use by Public Records

    JC Licht Benjamin ... Paint Store Dentist Dentist

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon 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
    -87.807031527986
    Latitude
    41.97725290861

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    FAQs

    What type of property is this?
    Individual retail property - Chicago storefront, 6.04% cap rate.
    Where is this individual retail property located?
    The property is located at 5301 Harlem Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: 3,234 SF retail building.; Excellent Chicago location.; Fully occupied, providing immediate cash flow.
    Request Owner's contact information
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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
    5301 Harlem Ave Chicago, IL 60656
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