Street-Level Retail and Office
For Sale
$385,000
C3-2633 W Bryn Mawr Ave, Chicago, IL 60660
Large open retail/office space includes display windows, central HVAC, a bathroom, and two rear parking spaces.
Property Size2,516 SF
Price / SF$153.02
Days on Market168
Property Features for C3-2633 W Bryn Mawr Ave
General Information
Standard status
Active
Size
2,516 SF
Total Parking Spaces
2
Zoning
B2-3
Taxes and HOA fees
Annual Taxes
$6,180
Listing Agency:
Berkshire Hathaway HomeServices Chicago
(312) 731-3394
Listed By:
Emir Vulic · License #475170306
(312) 731-3394
Source:
Exprealty
Added: Feb 26
Changed: Aug 11
Last Checked: Aug 12 at 1:14PM
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 Berkshire Hathaway HomeServices Chicago
Investment Insights
Based on property information with market context.
This street-level commercial space offers a large open layout with substantial lower-level storage, plus large display windows with awnings. The unit includes central A/C and heat, a bathroom, and a water fountain. Two rear parking spaces are included, and there is also ample street parking in front.
The property is described as being located in a prime commercial area with strong visibility along W Bryn Mawr Ave. The space is marketed for neighborhood-serving commercial uses permitted under B2-3 zoning, with examples provided that include boutique retail, cafe, salon, spa, yoga or fitness studio, professional office, therapy or medical practice, and insurance or real estate office.
Additional operating notes provided include that the tenant is responsible for electricity, while estimated NNN expenses are approximately $920 per month for property taxes and HOA. The estimated total monthly occupancy cost is approximately $2,570 per month plus electric.
The property is described as being located in a prime commercial area with strong visibility along W Bryn Mawr Ave. The space is marketed for neighborhood-serving commercial uses permitted under B2-3 zoning, with examples provided that include boutique retail, cafe, salon, spa, yoga or fitness studio, professional office, therapy or medical practice, and insurance or real estate office.
Additional operating notes provided include that the tenant is responsible for electricity, while estimated NNN expenses are approximately $920 per month for property taxes and HOA. The estimated total monthly occupancy cost is approximately $2,570 per month plus electric.
Key Highlights
- 1,260 SF main open commercial space plus 1,256 SF lower‑level storage
- B2‑3 zoning permits a wide range of neighborhood‑serving uses including boutique retail, cafe, salon/spa, office, therapy/medical, and more
- Large display windows with awnings for street presence and natural light
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,808
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$696,160
$696.2K
Cap Rate 7%
$497,257
$497.3K
Cap Rate 9%
$386,756
$386.8K
Market Conditions
NOI Build-Up for 2,516 SF
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.
Gross rent
$54.3K $21.60/SF
− Vacancy
−$4.6K −$1.84/SF
EGI
$49.7K $19.76/SF
− OpEx
−$14.9K −$5.93/SF
NOI
$34.8K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$696,160
Cap Rate 7%
$497,257
Cap Rate 9%
$386,756
Alternative Uses
Best Use
Office B
$771.2K
$674.8K – $899.7K
NOI $53,983 @ 7.0% cap · market cap 14.02%
Second Best
Retail
$497.3K
$435.1K – $580.1K
NOI $34,808 @ 7.0% cap · market cap 9.04%
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $83,040 @ 7.0% cap · market cap 21.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,603
Businesses Nearby
Explore this area
Business Placement
Demographics for 60660, IL
42,534
Population
23,508
Households
1.8
Avg Household Size
38
Median Age
57%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
32,718
Density / Sq Mi
$66,206
Median Household Income
$46,871
Median Earnings
$1,286
Median Rent
$287,500
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Large open retail/office space includes display windows, central HVAC, a bathroom, and two rear parking spaces.
Where is this retail space located?
The property is located at C3-2633 W Bryn Mawr Ave Chicago, IL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 1,260 SF main open commercial space plus 1,256 SF lower‑level storage; B2‑3 zoning permits a wide range of neighborhood‑serving uses including boutique retail, cafe, salon/spa, office, therapy/medical, and more; Large display windows with awnings for street presence and natural light
