Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1351-1355 Washington Blvd Chicago, IL 60607
    Back to Search
    Property profile & analytics

    1351-1355 Washington Blvd Chicago, IL 60607

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

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1351-1355 Washington Blvd

    Property size
    959 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This 959-square-foot storefront at 1351-1355 W Washington Blvd, Chicago, IL 60607, is offered at $385,000. The property boasts a flexible layout ideal for various retail or office uses, thanks to its C1-3 zoning. The space is move-in ready and features two private offices, a convenient kitchenette, a restroom, ample storage, and a spacious central open area. Located in the highly sought-after West Loop neighborhood, this property benefits from its proximity to the vibrant Fulton Market district, known for its diverse culinary scene, trendy shops, numerous corporate offices, and upscale residential developments. The area is easily accessible via public transportation and offers a short commute to downtown Chicago. The West Loop's dynamic atmosphere, blend of historic charm and modern amenities, and strong sense of community make it an attractive location for businesses and employees alike. This prime location offers excellent visibility and foot traffic, creating a strong foundation for a successful business venture. The property's modern design and functional layout provide a comfortable and efficient workspace or retail environment. Don't miss this opportunity to establish your business in one of Chicago's most desirable and rapidly growing neighborhoods.

    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
    -87.6616
    Latitude
    41.8827

    Comparable in this City

    • Value Estimation by Request

      622 Roosevelt Rd

      Individual retail properties
      622 Roosevelt Rd, Chicago, IL 60607
      View Details
    • Value Estimation by Request
      4,000 SF

      1325 Taylor St

      Restaurants • 4,000 SF
      1325 Taylor St, Chicago, IL 60607
      View Details
    • Value Estimation by Request
      222,000 SF

      1044 Van Buren St

      Individual retail properties • 222,000 SF
      1044 Van Buren St, Chicago, IL 60607
      View Details
    • Value Estimation by Request
      1,470 SF

      905 Fulton St

      Individual retail properties • 1,470 SF
      905 Fulton St, Chicago, IL 60607
      View Details
    • Value Estimation by Request
      128,603 SF

      1220 Jackson Blvd

      Individual retail properties • 128,603 SF
      1220 Jackson Blvd, Chicago, IL 60607
      View Details
    • Value Estimation by Request
      100,000 SF

      1221 Taylor St

      Restaurants • 100,000 SF
      1221 Taylor 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
    • $3,000,000

      South Loop Renovated Retail/Office

      Renovated South Loop building with office and retail space.
      622 W Roosevelt Rd, Chicago, IL 60607
      View Details
    • $385,000
      959 SF

      Move-In Ready West Loop Space

      Modern office/retail space in a dynamic, thriving West Loop location.
      1355 W Washington Blvd, Chicago, IL 60607
      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 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
    • $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

    Similar Nearby for Lease

    • 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

      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
      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
    • 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
    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.
    1351-1355 Washington Blvd
    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
    1351-1355 Washington Blvd, 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!