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    1638 Chicago Ave Chicago, IL 60622

    For Lease
    $246 SF/Yr

    1,800 SF Vacant, High-Traffic Location

    Lot size:
    3,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional retail storefront opportunity, located at 1638 W Chicago Ave in Chicago, IL 60622, offers 1,800 square feet of vacant space within a 3,500 square foot building. Situated in the vibrant Ukrainian Village submarket of West Town, this single-tenant property boasts a prime location on a busy street with high foot traffic. The B1-2 zoning allows for a variety of retail uses. The property's address is conveniently located near public transportation, ensuring easy access for customers and employees. Surrounded by a thriving mix of restaurants and shops, this space benefits from the high volume of foot traffic and strong commercial activity in the area. The property's APN is 17-06-439-022-0000, and the cross street is Ashland. This is an ideal location for a business seeking high visibility and a strong customer base. The space is build-to-suit, allowing for customization to meet specific business needs. This presents a unique opportunity to establish a thriving retail presence in a highly desirable Chicago neighborhood. Don't miss this chance to secure a prime retail location in a bustling commercial district.

    Property Features for 1638 Chicago Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,500 SF
    Total Rate
    71750

    Unit(s) available at that property

    Space
    Size
    1,770 SF
    Rate per SF
    $246

    HighLights

    • 1,800 SF vacant retail space in a 3,500 SF building at 1638 W Chicago Ave, Chicago, IL 60622.
    • Prime location in Ukrainian Village, West Town, with high foot traffic.
    • B1‑2 zoning allows for various retail uses.
    • Convenient access to public transportation.
    • High ceilings (15' wide x 100' deep), water, electric, gas, one full bath, and one half bath.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.668907553881
    Latitude
    41.896070801849

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    FAQs

    What type of property is this?
    Retail property - 1,800 SF Vacant, High-Traffic Location
    Where is this retail property located?
    The property is located at 1638 Chicago Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $246 SF/Yr.
    What are key features of this property?
    This property features: 1,800 SF vacant retail space in a 3,500 SF building at 1638 W Chicago Ave, Chicago, IL 60622.; Prime location in Ukrainian Village, West Town, with high foot traffic.; B1-2 zoning allows for various retail uses.
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    1638 Chicago Ave Chicago, IL 60622
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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
    1638 Chicago Ave Chicago, IL 60622
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