Humboldt Park Corner Lot
958 N California Ave, Chicago, IL 60622
Corner lot with redevelopment potential in vibrant Humboldt Park.
Type:Mixed Use, Office, Retail
Property size:
2,551 SFLot size:
0.14 AcresPrice / SF:
$343/SF- Added:
- Feb 26, 2026
- Days on Market:
- 80
- Last Refresh:
- Mar 17 at 1:17 pm
Property Features for 958 N California Ave
General Information
- Standard status
- Active
- Size
- 2,551 SF
- Lot size
- 0.14 Acres
- Property subtype
- Mixed Use, Office, Retail
Listing agent Tim Rasmussen License #IL 471001877
Listing office SVN | Chicago Commercial
Listing date Feb 26, 2026
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 SVN | Chicago Commercial
HighLights
- Prime corner lot in Humboldt Park offering high visibility and exposure.
- Flexible C1‑2 zoning allows for diverse commercial and residential mixed‑use development.
- Repositioning or redevelopment potential on a 6,300 sq ft lot with an existing 2,551 sq ft building.
- Located in a rapidly growing neighborhood with continued residential and mixed‑use development.
- Proximity to Humboldt Park, Wicker Park, Logan Square, and downtown Chicago.
- Opportunity to capitalize on the vibrant dining scene, local art, and cultural attractions of Humboldt Park.
Overview
Located on a highly visible corner lot in Humboldt Park, 958 North California Avenue offers an opportunity for investors, developers, and owner-users. The property features an approximately 6,300 square foot lot improved with a 2,551 square foot former garage building, offering flexible repositioning or redevelopment potential. The C1-2 zoning supports a range of commercial and residential mixed-use possibilities, making this an ideal candidate for retail, office, residential units above commercial, or adaptive reuse. The prominent corner location allows for maximum exposure, curb appeal, and design flexibility. Humboldt Park is known for its lush namesake park, historic architecture, and rich Puerto Rican heritage. Anchored by the expansive 200-acre Humboldt Park, the area offers an exceptional blend of green space and urban energy. Tree-lined streets showcase classic greystones and vintage brick two-flats alongside renovated homes and new development. Division Street’s Paseo Boricua serves as the cultural heart of the neighborhood. Humboldt Park continues to attract homeowners, investors, and developers seeking strong community character and long-term growth potential.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$608.2K
NOI $54,734 @ 9.00% cap · cautious / downside scenario
Moderate
$781.9K
NOI $54,734 @ 7.00% cap · market / base-case scenario
Aggressive
$1.09M
NOI $54,734 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $98.0k | $38.40 |
| − Vacancy | −$25.0k | −$9.79 |
| EGI | $73.0k | $28.61 |
| − OpEx | −$18.2k | −$7.15 |
| NOI | $54.7k | $21.46 |
2,551 SF · lease $38.40/SF/yr · vacancy 25.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$781.9K
$684.2K – $912.2K
NOI $54,734 @ 7.0% cap · market cap 6.26%
Second Best
Mixed Use
$615.0K
$538.1K – $717.5K
NOI $43,048 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,195 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6971705
- Latitude
- 41.8991261
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Corner lot with redevelopment potential in vibrant Humboldt Park.
Where is this mixed-use property located?
The property is located at 958 N California Ave Chicago, IL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Prime corner lot in Humboldt Park offering **high visibility and exposure**.; Flexible C1‑2 zoning allows for diverse commercial and residential mixed‑use development.; Repositioning or redevelopment potential on a 6,300 sq ft lot with an existing 2,551 sq ft building.
