Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    542 Roosevelt Rd Chicago, IL 60607
    Property profile & analytics

    542 Roosevelt Rd, Chicago, IL 60607

    View on Map
    • Lifestyle centers
    • 24,558 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mighty Roofing and Siding / Roofing Company / General Contractor
    • Tosh Chandy / Real Estate Agency

    Property Details for 542 Roosevelt Rd

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 24,558 square foot multi-tenant retail center, located at 542-566 W. Roosevelt Road in Chicago, IL 60607, presents a compelling investment opportunity. Boasting 91% occupancy, the property features a diverse tenant mix within a bustling South Loop location. Built in 1964 and extensively renovated between 2017 and 2019 (including a new roof with a warranty extending into 2029), this shopping center and storefront property offers significant upside potential. Improvements exceeding $1.5 million include a new roof and façade, along with various plumbing, electrical upgrades, and fresh paint. The property sits on a 0.73-acre lot and includes 28 parking spaces. Its DS-3 Downtown Service District zoning allows for a variety of uses. An attractive assumable loan is available, and the property also benefits from a billboard with potential for separate revenue generation. The strategic location along a busy stretch of Roosevelt Road, with proximity to I-90, ensures high visibility and accessibility. Value-add opportunities exist through lease-up of vacant spaces and market rate adjustments. This is a rare chance to acquire a well-maintained, high-performing retail asset in a prime 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
    -87.641
    Latitude
    41.8675

    Comparable in this City

    • Value Estimation by Request
      4,050 SF

      616 Roosevelt Rd

      Lifestyle centers
      616 Roosevelt Rd, Chicago, IL 60607
      View Details
    • Value Estimation by Request
      365,573 SF

      150 Roosevelt Rd

      Lifestyle centers
      150 Roosevelt Rd, Chicago, IL 60607
      View Details
    • Value Estimation by Request
      200,000 SF

      1125 Van Buren St

      Individual retail properties
      1125 Van Buren St, Chicago, IL 60607
      View Details
    • Value Estimation by Request
      207,000 SF

      150 Ashland Ave

      Individual retail properties
      150 Ashland Ave, Chicago, IL 60607
      View Details
    • Value Estimation by Request
      4,000 SF

      1325 Taylor St

      Restaurants
      1325 Taylor St, Chicago, IL 60607
      View Details
    • Value Estimation by Request
      222,000 SF

      1044 Van Buren St

      Individual retail properties
      1044 Van Buren St, Chicago, IL 60607
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,489 SF

      South Loop Net Lease Opportunity

      Urban infill net lease in vibrant South Loop Chicago.
      628-632 W Roosevelt Rd, Chicago, IL 60607
      View Details
    • $469,900
      Pending

      Chicago Commercial Property on Roosevelt

      Two storefronts with high visibility in a commercial district.
      607 W Roosevelt Rd, Chicago, IL 60607
      View Details
    • Contact for pricing

      South Loop Retail Opportunity

      Retail space in a thriving neighborhood, easily accessible and walkable.
      1100 S Canal St, Chicago, IL 60607
      View Details
    • Contact for pricing
      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 60607
      View Details
    • $4,000,000
      0.04 Acres

      Fulton Market Mixed-Use Opportunity

      Mixed-use building in Fulton Market near McDonald's HQ.
      1111 W Randolph St, Chicago, IL 60607
      View Details
    • Contact for pricing
      850 SF

      West Loop Retail Unit

      Remodeled 850 SF retail unit near Morgan CTA stop.
      1118 W Fulton Market, Chicago, IL 60607
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Fulton Market Retail Opportunity

      Retail space in Fulton Market, steps from Google HQ.
      311 North Morgan St, Chicago, IL 60607
      View Details
    • Contact for pricing
      1,366 SF

      Fulton Market Retail Opportunity

      Retail space near Google's Midwest Headquarters in Fulton Market.
      1044 W Fulton Mkt, Streamwood, IL 60607
      View Details
    • Contact for pricing
      4,847 SF

      West Loop Retail Space Available

      Retail space in high-traffic West Loop location, ready for occupancy.
      1301-1329 W Madison St, Chicago, IL 60607
      View Details
    • Contact for pricing
      4,950 SF

      Fulton Market Retail Opportunity

      Corner retail space in Chicago's Fulton Market neighborhood.
      939 W Lake St, Chicago, IL 60607
      View Details
    • Contact for pricing
      2,658 SF

      West Loop Retail Space Available

      Move-in ready retail space in West Loop/Fulton Market.
      913 W Lake St, Chicago, IL 60607
      View Details
    • Contact for pricing
      3,000 SF

      West Loop Retail Space Available

      Retail space in high-traffic West Loop location.
      1141 W Madison St, Chicago, IL 60607
      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.
    542 Roosevelt Rd
    Chicago, IL 60607
    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
    542 Roosevelt Rd, Chicago, IL, 60607
    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!