Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    1 Huron St Chicago, IL 60611-2786

    • Retail space
    • 1,300 SF
    • 0.04 lot acres
    OFF-MARKET
    Last Sale
    Oct 05, 2022
    $2,275,000
    Value Estimations
    $2,470,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-5545173
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Pure Barre / Physical Fitness Program / Gym
    • Saraya Salon River North / Hair Salon / Beauty Salon
    • Blowtique / Hair Salon

    Property Details for 1 Huron St

    Year built
    1900
    Lot size
    0.04 lot acres
    Property size
    1,300 SF
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    17-10-107-010
    APU
    1710107010

    Description

    This exceptional 1,800-square-foot commercial space, located at 1 E. Huron Street in Chicago's desirable River North/North Michigan Avenue submarket, presents a unique opportunity. Situated on the first floor of a three-story building constructed in 1900 and renovated in 2012, this space boasts a 10-foot ceiling height and benefits from abundant natural light due to its large windows. The property is zoned B7-6 and features a fully built-out, plug-and-play layout, previously occupied by a fitness studio. Its prime location offers high visibility on both State Street and Huron Street, providing excellent exposure for any business. The building itself includes a salon on the first floor and residential units on the third floor. While there is no on-site parking, the property's central location offers easy access to public transportation and nearby parking options. The space is part of a larger 5,400-square-foot building with Cook County APN 17-10-107-010-0000. The property's annual taxes are $8.50 per square foot. The space is served by 200 amps of power, but lacks an elevator. This versatile space is ideal for medical, executive, or creative office uses. Its proximity to over 3,000 high-end residential units within two blocks ensures a strong potential customer base. The space is immediately available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,450,000
      ML approach
      $2,385,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,731,000
      Market price range: $669k - $2.73M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.628
    Latitude
    41.8947
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $51,583
    $91,406
    $159,384
    $250,790
    -
    $365,624
    $637,536
    $1,003,160

    Comparable in this City

    • Value Estimation
      $435,000
      1.19 Acres

      540 Michigan Ave

      STORE, RETAIL OUTLET • 1.19 Acres
      540 Michigan Ave, Chicago, IL 60611-3890
      View Details
    • Value Estimation
      $415,000
      1.19 Acres

      540 Michigan Ave

      STORE, RETAIL OUTLET • 1.19 Acres
      540 Michigan Ave, Chicago, IL 60611-3890
      View Details
    • Value Estimation
      $535,000
      12,400 SF

      58 Oak St

      STORE, RETAIL OUTLET • 12,400 SF
      58 Oak St, Chicago, IL 60611-1276
      View Details
    • Value Estimation
      $530,000
      11,500 SF

      555 Michigan Ave

      STORE, RETAIL OUTLET • 11,500 SF
      555 Michigan Ave, Chicago, IL 60611-3815
      View Details
    • Value Estimation
      $450,000
      5,600 SF

      57 Oak St

      STORE, RETAIL OUTLET • 5,600 SF
      57 Oak St, Chicago, IL 60611-1201
      View Details
    • Value Estimation
      $1,685,000
      3,200 SF

      1031 Rush St, Unit 35

      STORE, RETAIL OUTLET • 3,200 SF
      1031 Rush St, Chicago, IL 60611-1227
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Boutique Retail Space For Sale

      1,076 SF boutique retail space available for purchase.
      535 N Michigan Ave, Chicago, IL 60611
      View Details
    • Contact for pricing
      8,800 SF

      Retail Building on Michigan Avenue

      Two-story retail building with frontage on Michigan Avenue.
      11139 S Michigan Ave, Chicago, IL 60611
      View Details
    • Contact for pricing
      209 SF

      Retail Space Adjacent to T.J.Maxx

      13,333 SF retail opportunity on Chicago's Magnificent Mile.
      600 N Michigan Ave, Chicago, IL 60611
      View Details
    • Contact for pricing
      12 SF

      Gold Coast Retail/Medical Office Property

      Seven-story retail and medical office property in Chicago's Gold Coast.
      100 E Walton St, Chicago, IL 60611
      View Details
    • Contact for pricing
      49 SF

      River North Retail Development Opportunity

      Three-story retail development in Chicago's River North/Michigan Avenue trade area.
      100 E Ontario St, Chicago, IL 60611
      View Details
    • $100,000

      Prime River North Commercial Space

      Compact commercial space in a vibrant, high-traffic Chicago location.
      30 E Huron St, Chicago, IL 60611
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      800 SF

      Prime Retail Space on Oak

      Single-tenant retail opportunity in Chicago's affluent Gold Coast neighborhood.
      116 E Oak St, Chicago, IL 60611
      View Details
    • Contact for pricing
      3,000 SF

      Flagship Opportunity on Magnificent Mile

      Single tenant retail space available on Magnificent Mile in Chicago.
      555 N Michigan Ave, Chicago, IL 60611
      View Details
    • Contact for pricing
      385 SF

      Retail Space in Gold Coast

      Prime retail space in a luxury apartment building.
      25 E Delaware Pl, Chicago, IL 60611
      View Details
    • Contact for pricing
      1,010 SF

      Retail Space on East Oak

      Retail space available for lease in Chicago, Illinois.
      100-102 E Oak St, Chicago, IL 60611
      View Details
    • $106 SF/Yr

      Gold Coast Retail Space Available

      Second-generation retail space in Chicago's prestigious Gold Coast neighborhood.
      110 E Delaware Pl, Chicago, IL 60611
      View Details
    • Contact for pricing

      Gold Coast Retail Sublease Opportunity

      Prime retail space in Chicago's prestigious Gold Coast district.
      56 East Oak St, Chicago, IL 60611
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1 Huron St
    Chicago, IL 60611-2786
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.