Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3216 Broadway St Chicago, IL 60657

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3216 Broadway St Chicago, IL 60657

    View on Map
    • Retail properties & Spaces
    • 7,500 SF
    For Lease
    View Listing →
    Broadway Retail Space - Chicago For Lease
    Contact for pricing

    Broadway Retail Space - Chicago

    7,500 SF Retail Space Available

    3216 Broadway St, Chicago, IL 60657
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Gap / Lingerie Store / Men'S Clothing Store
    • UnitedHealthcare Group / Insurance Agency

    Property Details for 3216 Broadway St

    Property size
    7,500 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional 7,500 square foot retail space is ideally situated at 3216 N Broadway in Chicago's vibrant Cook County. Currently entirely vacant, this property presents a unique opportunity for a single tenant or multiple tenants seeking a prominent location. The building's total area is 7,500 square feet, offering ample space for a variety of commercial uses. The property is classified as retail commercial space with multiple tenancy options. Its prime location in Chicago, Illinois, zip code 60657, offers excellent visibility and accessibility for customers. The address is easily identifiable and conveniently located within Cook County, providing easy access to major transportation routes and a diverse customer base. This is a blank canvas for a business looking to establish a strong presence in a bustling area. The property's size and location make it suitable for a wide range of retail businesses, from flagship stores to smaller boutiques. The entire space is available for lease, providing flexibility for potential tenants to customize the layout and design to meet their specific needs. Serious inquiries are encouraged to explore this exciting opportunity. The property is ready for immediate occupancy. Contact us to schedule a viewing and discuss lease terms.

    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
    -87.6448
    Latitude
    41.9408

    Comparable in this City

    • Value Estimation by Request
      6,858 SF

      3043 Ashland Ave

      Individual retail properties • 6,858 SF
      3043 Ashland Ave, Chicago, IL 60657
      View Details
    • Value Estimation by Request
      4,033 SF

      3169 Lincoln Ave

      Retail properties & Spaces • 4,033 SF
      3169 Lincoln Ave, Chicago, IL 60657
      View Details
    • Value Estimation by Request
      13,500 SF

      3020 Lincoln Ave

      Restaurants • 13,500 SF
      3020 Lincoln Ave, Chicago, IL 60657
      View Details
    • Value Estimation by Request
      2,909 SF

      3052 Lincoln Ave

      Individual retail properties • 2,909 SF
      3052 Lincoln Ave, Chicago, IL 60657
      View Details
    • Value Estimation by Request
      310,000 SF

      3460 Broadway St

      Restaurants • 310,000 SF
      3460 Broadway St, Chicago, IL 60657
      View Details
    • Value Estimation by Request
      0.11 Acres

      2811 Racine Ave

      Individual retail properties • 6,725 SF
      2811 Racine Ave, Chicago, IL 60657
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Lakeview Mixed-Use Building with Nightclub

      Mixed-use building with nightclub and two apartments in Lakeview.
      2871 North Lincoln Ave, Chicago, IL 60657
      View Details
    • Contact for pricing

      Retail Property For Sale

      Retail property available for sale.
      2339 W Roscoe St, Chicago, IL 60657
      View Details
    • New
      $1,550,000
      8,700 SF

      Lakeview Commercial Building on Lincoln

      Two-story commercial building with open space in Chicago's Lakeview.
      3121 N Lincoln Ave, Chicago, IL 60657
      View Details
    • $11,000,000

      Wrigleyville Mixed-Use Investment Opportunity

      Mixed-use property near Wrigley Field with hotel and brewery.
      3475 North Clark St, Chicago, IL 60657
      View Details
    • $3,900,000
      5,351 SF

      Retail Property on Broadway Street

      Retail property available for sale in Chicago, Illinois.
      3139 N Broadway St, Chicago, IL 60657
      View Details
    • Contact for pricing
      1,715 SF

      Boutique Hotel Near Wrigley Field

      21-room hotel with retail, patio, and rooftop deck.
      3473-3477 N Clark St, Chicago, IL 60657
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,500 SF

      Broadway Retail Space - Chicago

      7,500 SF Retail Space Available
      3216 Broadway St, Chicago, IL 60657
      View Details
    • Contact for pricing
      3,125 SF

      Restaurant Space with Outdoor Patio

      Restaurant space featuring a large, enclosed, covered outdoor patio.
      1232 W Belmont Ave, Chicago, IL 60657
      View Details
    • Contact for pricing

      Roscoe Village Mixed-Use Building

      Two-story retail and office building in high-traffic Roscoe Village.
      1608 W Belmont Ave, Chicago, IL 60657
      View Details
    • Contact for pricing
      2,300 SF

      East Lakeview Restaurant Space Available

      2,300 SF restaurant space in East Lakeview neighborhood.
      611 W Oakdale Ave, Chicago, IL 60657
      View Details
    • Contact for pricing

      Retail Space in Chicago, IL

      Retail property with 175065 square feet of space for rent.
      2828 N Clark St, Chicago, IL 60657
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, offering 4,000 SqFt in Chicago, IL.
      3254 N Lincoln Ave, Chicago, IL 60657
      View Details
    View Listing
    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.
    3216 Broadway St
    Chicago, IL 60657
    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.
    Sign Up Successful!
    You now have access to more from Realmo!