Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1016-1028 Argyle St Chicago, IL 60640
    Back to Search
    Property profile & analytics

    1016-1028 Argyle St Chicago, IL 60640

    View on Map
    • Retail properties & Spaces
    • 18,750 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1016-1028 Argyle St

    Property size
    18,750 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional investment opportunity presents a portfolio of two commercial buildings situated at 1016-1028 W. Argyle St in Chicago's vibrant Uptown district. The combined property encompasses a substantial 18,750 square feet. The first building is a dynamic mix of ground-floor restaurant spaces and upper-level vacant office and retail space, offering significant potential for redevelopment and expansion to suit a variety of uses. This presents a unique chance to capitalize on the area's thriving culinary scene and high foot traffic. The flexible layout allows for customization to meet diverse business needs, whether it's expanding existing operations or attracting new tenants. The second building provides a stable income stream, currently fully occupied by an established educational institution, ensuring consistent rental revenue. This provides a balanced investment portfolio with both immediate return and long-term growth potential. Located in Cook County, Illinois, zip code 60640, this property benefits from its prime location within a bustling neighborhood, offering excellent visibility and accessibility. The asking price for this remarkable portfolio is $4,399,000. This is a rare chance to acquire a well-positioned, multi-faceted commercial property with substantial upside in a highly desirable Chicago location. Don't miss this opportunity to secure a significant investment in a thriving market.

    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
    -87.6557
    Latitude
    41.9736

    Comparable in this City

    • Value Estimation by Request

      4806 Clark St

      Restaurants
      4806 Clark St, Chicago, IL 60640
      View Details
    • Value Estimation by Request

      1244-1254 Wilson Ave

      Individual retail properties
      1244-1254 Wilson Ave, Chicago, IL 60640
      View Details
    • Value Estimation by Request
      14,000 SF

      5250 Broadway St

      Individual retail properties • 14,000 SF
      5250 Broadway St, Chicago, IL 60640
      View Details
    • Value Estimation by Request
      6,000 SF

      5411 Broadway St

      Individual retail properties • 6,000 SF
      5411 Broadway St, Chicago, IL 60640
      View Details
    • Value Estimation by Request

      1132 Wilson Ave

      Individual retail properties
      1132 Wilson Ave, Chicago, IL 60640
      View Details
    • Value Estimation by Request
      5,140 SF

      1973 Lawrence Ave

      Individual retail properties • 5,140 SF
      1973 Lawrence Ave, Chicago, IL 60640
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      18,750 SF

      Storefronts in Lively Chicago Neighborhood

      Fully occupied building with storefronts, restaurants, and office spaces.
      1016-1028 Argyle St, Chicago, IL 60640
      View Details
    • $499,000

      Prime Retail Storefront on Clark

      Highly visible retail space in vibrant Chicago neighborhood for sale.
      4806 N Clark St, Chicago, IL 60640
      View Details
    • $1,200,000
      3,846 SF

      Uptown Mixed-Use Building For Sale

      Mixed-use building in Uptown with storefront and restaurant.
      4445-4447 N Broadway Ave, Chicago, IL 60640
      View Details
    • $829,000

      Leased Commercial Space with Apartment

      Fully leased commercial space with renovated apartment near transportation.
      1964 W Lawrence Ave, Chicago, IL 60640
      View Details
    • $949,900

      Iconic Mixed-Use Corner Building

      Architectural gem in East Ravenswood/Andersonville with high pedestrian traffic.
      4758 N Ashland Ave, Chicago, IL 60640
      View Details
    • $949,900
      2,464 SF

      Iconic Corner Terra Cotta Building

      Mixed-use building in East Ravenswood/Andersonville neighborhood with high pedestrian traffic.
      4758 North Ashland Ave, Chicago, IL 60640
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      1,800 SF

      Sheridan Park Retail Opportunity

      Storefront in mixed-use building, ideal for restaurant or cafe.
      4700 N Racine Ave, Chicago, IL 60640
      View Details
    • $24 SF/Yr

      Uptown Commercial Space For Rent

      Prime commercial space in Uptown with high visibility and foot traffic.
      4555 N Sheridan Rd, Chicago, IL 60640
      View Details
    • $28 SF/Yr

      Retail Space in Andersonville

      2,991 SF retail space in a luxury mid-rise apartment building.
      4914 North Clark St, Chicago, IL 60640
      View Details
    • Contact for pricing
      3,200 SF

      Bow Truss Building Retail Space

      Retail spaces in a beautiful Bow Truss building.
      2700 W Lawrence Ave, Chicago, IL 60640
      View Details
    • Contact for pricing
      2,621 SF

      Retail Space Near Wilson Station

      Retail space at the base of The Wilmore apartments.
      4600 N Kenmore Ave, Chicago, IL 60640
      View Details
    • $29 SF/Yr
      1,550 SF

      Ravenswood Corner Retail Space Available

      Highly visible retail space with high traffic and income demographics.
      1969-1973 W Lawrence Ave, Chicago, IL 60640
      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.
    1016-1028 Argyle St
    Chicago, IL 60640
    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
    1016-1028 Argyle St, Chicago, IL, 60640
    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!