Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1850 Webster Ave Chicago, IL 60614
    Back to Search
    Property profile & analytics

    1850 Webster Ave Chicago, IL 60614

    View on Map
    • Retail properties & Spaces
    • 9,037 SF
    • 1.19 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Village Bucktown / (Bike/Boat/Book/etc) Store

    Property Details for 1850 Webster Ave

    Year built
    1997
    Lot size
    1.19 lot acres
    Property size
    9,037 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional investment opportunity presents a fee-simple interest in a 9,037 square foot retail building located at 1850 W Webster Ave, Chicago, IL 60614. The property, fully renovated in 2023, sits on a 1.19-acre lot and boasts a strong 8.25% cap rate with a Net Lease structure. Currently occupied by Village Dispensary under a 10-year lease (commencing July 1, 2023, and expiring June 30, 2033), offering approximately 8.6 years of remaining lease term. The lease includes annual rent bumps of 2% and two 5-year renewal options. The tenant, Village Dispensary, is backed by a publicly traded entity, providing significant financial stability. The property features 44 parking spaces and future plans for a drive-thru, adding to its already impressive value. Built in 1997, this prime location in Lincoln Park benefits from high visibility, a dense, affluent population, and significant daytime traffic. The substantial $2.5 million renovation included a complete gut remodel. The property's strong financials, long-term lease, and prime location make it an ideal investment for discerning buyers. The Net Operating Income (NOI) is $583,440. The asking price is $7,072,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6755
    Latitude
    41.922

    Comparable in this City

    • Value Estimation by Request
      4,800 SF

      2463 Lincoln Ave

      Individual retail properties • 4,800 SF
      2463 Lincoln Ave, Chicago, IL 60614
      View Details
    • Value Estimation by Request
      9,600 SF

      1113 Armitage Ave

      Individual retail properties • 9,600 SF
      1113 Armitage Ave, Chicago, IL 60614
      View Details
    • Value Estimation by Request
      1,500 SF

      2299 Clybourn Ave

      Individual retail properties • 1,500 SF
      2299 Clybourn Ave, Chicago, IL 60614
      View Details
    • Value Estimation by Request
      11,170 SF

      1015-17 Armitage Ave

      Restaurants • 11,170 SF
      1015-17 Armitage Ave, Chicago, IL 60614
      View Details
    • Value Estimation by Request

      2740 Clark St

      Individual retail properties
      2740 Clark St, Chicago, IL 60614
      View Details
    • Value Estimation by Request
      38,640 SF

      1925 Clybourn Ave

      Individual retail properties • 38,640 SF
      1925 Clybourn Ave, Chicago, IL 60614
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,185 SF

      Vintage Masonry Retail Building

      Retail property featuring vintage masonry and a commercial garage.
      1528 W Fullerton Ave, Chicago, IL 60614
      View Details
    • Contact for pricing
      10,500 SF

      Lincoln Park Investment Opportunity

      Investment property in Chicago's desirable Lincoln Park neighborhood.
      2768-2770 N Lincoln Ave, Chicago, IL 60614
      View Details
    • $375,000

      Lincoln Park Commercial Condo Opportunity

      Prime 4,650 SF commercial condo in high-demand Lincoln Park.
      2020 N Lincoln St, Chicago, IL 60614
      View Details
    • $399,000

      Halsted Street Retail Space Available

      1100 SF commercial space in Lincoln Park for sale.
      2719 N Halsted St, Chicago, IL 60614
      View Details
    • $4,400,000

      Lincoln Park Commercial Space Opportunity

      Modern commercial space in vibrant Armitage-Halsted District, Chicago.
      1925 N Halsted St, Chicago, IL 60614
      View Details
    • Contact for pricing
      33,140 SF

      Turn-Key Restaurant Space Available

      Turn-key restaurant and retail spaces available on Clybourn Avenue.
      2037-2077 N Clybourn Ave, Chicago, IL 60614
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,015 SF

      Lincoln Park Retail Space Available

      3,015 SF retail space in high-traffic Lincoln Park location.
      2417 N Clark St, Chicago, IL 60614
      View Details
    • Contact for pricing
      2,294 SF

      Lincoln Park Retail Subleasing Opportunity

      Prime retail space in Chicago's Lincoln Park neighborhood.
      1015-1017 W Armitage Ave, Chicago, IL 60614
      View Details
    • Contact for pricing

      Lincoln Park Retail Space Available

      Prime retail space in Lincoln Park's Armitage Avenue corridor.
      1133 W Armitage Ave, Chicago, IL 60614
      View Details
    • Contact for pricing
      2,042 SF

      Retail Space in Lincoln Park

      Move-in ready retail space in a high-traffic Chicago location.
      1011 W Armitage Ave, Chicago, IL 60614
      View Details
    • $25 SF/Yr
      1,200 SF

      Retail Space on Diversey Parkway

      Retail space with high ceilings and excellent walkability.
      1130 W Diversey Pkwy, Chicago, IL 60614
      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.
    1850 Webster Ave
    Chicago, IL 60614
    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

    Thank You for Inquiry
    1850 Webster Ave, Chicago, IL, 60614
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!