Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    627 Roosevelt Rd Chicago, IL 60605

    Property Lookup

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

    627 Roosevelt Rd Chicago, IL 60605

    View on Map
    • Lifestyle centers
    • 3,917 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dollar Tree / Discount Store

    Property Details for 627 Roosevelt Rd

    Property size
    3,917 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional retail opportunity presents a fully vacant, 3,917 square foot shopping center located at 627 W. Roosevelt Road in Chicago, Illinois, within Cook County. The property, known as Roosevelt Galleria, offers a prime location for a single tenant or multiple tenants seeking a high-visibility space. The entire 3,917 square feet is currently available for lease, providing a blank canvas for a new business venture or expansion. The building's convenient location offers excellent accessibility and high foot traffic potential. Ample parking is available with 67 spaces provided for customers and employees. The property is classified as a retail shopping center, ideal for a variety of commercial uses. This presents a unique chance to establish a strong presence in a vibrant Chicago neighborhood. The property's size and layout offer flexibility for various retail concepts. The address is 627 W. Roosevelt Road, Chicago, IL 60605. The property is situated in Cook County and offers a significant opportunity for businesses looking to establish or expand their operations in a high-traffic area. The entire space is ready for immediate occupancy, allowing for a quick and efficient start to operations. Interested parties are encouraged to inquire for further details and leasing information. This is a rare opportunity to secure a substantial retail space in a desirable Chicago location.

    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
    -87.6217
    Latitude
    41.869

    Comparable in this City

    • Value Estimation by Request
      7,098 SF

      423-439 Dearborn St

      Lifestyle centers • 7,098 SF
      423-439 Dearborn St, Chicago, IL 60605
      View Details
    • Value Estimation by Request
      28,195 SF

      Van Buren St & Litchfield Rd - Cor

      Retail properties & Spaces • 28,195 SF
      0 Van Buren St & Litchfield Rd - Cor, Chicago, IL 60605
      View Details
    • Value Estimation by Request
      1 SF

      77 Van Buren St

      Office properties & Spaces • 1 SF
      77 Van Buren St, Chicago, IL 60605
      View Details
    • Value Estimation by Request
      184,241 SF

      1401 State St

      Individual retail properties • 184,241 SF
      1401 State St, Chicago, IL 60605
      View Details
    • Value Estimation by Request
      1,500 SF

      717 Dearborn St

      Individual retail properties • 1,500 SF
      717 Dearborn St, Chicago, IL 60605
      View Details
    • Value Estimation by Request
      120,800 SF

      402 Michigan Ave

      Retail properties & Spaces • 120,800 SF
      402 Michigan Ave, Chicago, IL 60605
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      South Loop Investment Opportunity

      Stable income property with future upside in prime Chicago location.
      633 S Plymouth Ct, Chicago, IL 60605
      View Details
    • $4,900,000
      15,457 SF

      South Loop Retail Building Investment

      High-Occupancy Retail Space, Prime Location
      1300 S Wabash Ave, Chicago, IL 60605
      View Details
    • Contact for pricing

      Indoor Parking Spot in South Loop

      Private parking spot in a fantastic South Loop location.
      1305 S Michigan Ave, Chicago, IL 60605
      View Details
    • $3,000,000
      10,632 SF

      Renovated Mixed-Use Building For Sale

      Two properties with retail and office space in downtown Chicago.
      624 W Roosevelt Rd, Chicago, IL 60605
      View Details
    • $1,790,000

      Historic South Loop Redevelopment Opportunity

      Value-add property in high-traffic area with redevelopment potential.
      1233 S Wabash Ave, Chicago, IL 60605
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      61,639 SF

      1103-1155 State St

      Retail properties & Spaces • 61,639 SF
      1103-1155 State St, Chicago, IL 60605
      View Details
    • Contact for pricing
      10,000 SF

      Turn-Key Restaurant Space Available

      Fully equipped restaurant with indoor and outdoor seating.
      744 South Dearborn St, Chicago, IL 60605
      View Details
    • Contact for pricing
      1,700 SF

      South Loop Restaurant Space Available

      Second-generation restaurant space in iconic South Loop standalone building.
      26 E Roosevelt Rd, Chicago, IL 60605
      View Details
    • Contact for pricing
      623 SF

      Retail Hub in South Loop

      Prime retail space in a high-growth Chicago submarket.
      1135 S Delano Ct E, Chicago, IL 60605
      View Details
    • Contact for pricing

      South Loop Retail Opportunity

      Retail, restaurant, or medical office spaces available in South Loop.
      1103-1155 S State St, Chicago, IL 60605
      View Details
    • Contact for pricing
      3,917 SF

      Roosevelt Galleria Retail Space

      Retail space in a renovated shopping corridor, South Loop.
      635-637 W Roosevelt Rd, Chicago, IL 60605
      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.
    627 Roosevelt Rd
    Chicago, IL 60605
    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!