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    5041 Prairie Ave Chicago, IL 60615

    For Lease
    $15 SF/Yr ($10,312 /Mo)

    Prime 8,250 SF Retail Building

    Lot size:
    8,250 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional 8,250-square-foot retail building presents a unique investment opportunity in the vibrant South Chicago submarket of Cook County. Situated on a 0.42-acre lot (18,100 square feet), this single-tenant property boasts a convenient location in a bustling business corridor, easily accessible from 51st Street and just half a block from the CTA EL Station. Previously occupied by a Family Dollar, the building offers significant potential for a variety of retail uses. The structure itself features a newer truss roof supported by steel joists, ensuring durability and longevity. Ample parking is available on-site, with capacity for up to 15 vehicles. The property is zoned B3-2, allowing for a range of commercial possibilities. Built in 1951, this freestanding building is currently vacant, providing immediate occupancy for a new tenant. The entire 8,250 square feet is available, offering a substantial space for a business seeking high visibility and convenient access to public transportation and a strong customer base. This property represents a rare chance to acquire a well-located, sizable retail space in a thriving South Chicago neighborhood.

    Property Features for 5041 Prairie Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    8,250 SF
    Total Rate
    10312.5

    Building Details

    Year Built
    1951

    Unit(s) available at that property

    Space
    Suite 5041
    Size
    8,250 SF
    Rate per SF
    $15

    HighLights

    • 8,250 SF retail building on a 0.42‑acre lot in South Chicago.
    • Single‑tenant occupancy; currently vacant.
    • Located in a busy business corridor near the CTA EL station.
    • Previously occupied by Family Dollar.
    • Features a newer truss roof with steel joists and parking for up to 15 cars.
    • Zoned B3‑2 in Cook County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Meer Painting And Drywall ... Dry Wall Contractor

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.618986
    Latitude
    41.8024575

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    FAQs

    What type of property is this?
    Retail property - Prime 8,250 SF Retail Building
    Where is this retail property located?
    The property is located at 5041 Prairie Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: 8,250 SF retail building on a 0.42-acre lot in South Chicago.; Single-tenant occupancy; currently vacant.; Located in a busy business corridor near the CTA EL station.
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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
    5041 Prairie Ave Chicago, IL 60615
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