Storefronts in Lively Chicago
For Sale
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1028 Argyle St, Chicago, IL 60640
Fully occupied building with storefronts, restaurants, and office spaces.
Property Size18,750 SF
Price / SF$234.61
Days on Market699
Property Features for 1028 Argyle St
General Information
Standard status
Active
Size
18,750 SF
Property subtype
Retail
Listing Agency:
Chicago Real Estate Resources Inc
(773) 327-9300
Listed By:
Tuyen Nguyen · License #IL
Source:
Crexi
Added: Sep 3, 2024
Changed: Jul 10
Last Checked: Aug 1 at 4:23PM
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 Chicago Real Estate Resources Inc
Investment Insights
Based on property information with market context.
This distinctive property, located in a lively Chicago neighborhood, includes storefronts and is fully occupied by an educational institution. The building features ground-level restaurants, along with vacant spaces and offices on the second floor. The property has a size of 18750 square feet and represents a significant investment opportunity with unrealized potential. It offers considerable potential for customization and expansion. With long-standing businesses already established, this property is an attractive investment for forward-thinking investors.
Key Highlights
- Fully occupied by a reliable educational institution, ensuring steady income.
- Prime location in a lively Chicago neighborhood.
- Significant investment opportunity with unrealized potential.
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 | $405.0k | $21.60 |
| − Vacancy | −$34.4k | −$1.84 |
| EGI | $370.6k | $19.76 |
| − OpEx | −$111.2k | −$5.93 |
| NOI | $259.4k | $13.83 |
18,750 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.71M
$3.24M – $4.32M
NOI $259,402 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.84M
$7.74M – $10.31M
NOI $618,840 @ 7.0% cap · market cap 14.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
126k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Groceries 39%
Dining 15%
Jewel-Osco
Groceries
49,588 visits/mo
0.5 miles
Shell
Shops & Services
16,443 visits/mo
0.5 miles
Chase Bank
Shops & Services
13,629 visits/mo
0.4 miles
Mobil
Shops & Services
11,622 visits/mo
0.5 miles
Dunkin' Donuts
Dining
9,572 visits/mo
0.4 miles
Demographics for 60640, IL
65,941
Population
40,850
Households
1.6
Avg Household Size
38
Median Age
63%
College-Educated
92%
High-School Grad
2.4 sq mi
ZIP Area
27,475
Density / Sq Mi
$71,030
Median Household Income
$59,264
Median Earnings
$1,374
Median Rent
$363,300
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Fully occupied building with storefronts, restaurants, and office spaces.
Where is this storefront property located?
The property is located at 1028 Argyle St Chicago, IL.
What is the asking price?
The asking price for this property is $4,399,000.
What are key features of this property?
This property features: Fully occupied by a reliable educational institution, ensuring steady income.; Prime location in a lively Chicago neighborhood.; Significant investment opportunity with unrealized potential.
