Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3460 Broadway St Chicago, IL 60657

    • Retail properties
    • 310,000 SF
    For Lease
    View listing
    $38 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 3460 Broadway St

    Year built
    2022
    Property size
    310,000 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    This exceptional retail opportunity, located at 3460 N Broadway in Chicago's vibrant Lakeview neighborhood, offers ±7,961 square feet of premium space, divisible down to 1,917 square feet. Situated at the base of a luxurious 200-unit apartment building, this storefront benefits from a built-in customer base of high-income residents. The property enjoys a prime location on North Broadway Street, close to major brands like Whole Foods, Target, and Starbucks, as well as beloved local establishments such as Ann Sather, Chicago Diner, and Chilam Balam. Its convenient proximity to Wrigley Field and the Addison Red Line station ensures high foot traffic and accessibility. Built in 2022, this single-tenancy space is zoned PD 1469 in Cook County, Illinois (zip code 60657). The larger 310,000 square foot building offers a dynamic environment within the bustling Lakeview community, which boasts a population of over 103,000 residents (2020 census data). This location offers unparalleled access to a dense population and a thriving commercial district, making it an ideal space for a variety of retail or restaurant concepts. The property's modern construction and strategic location provide a unique opportunity to establish a successful business in one of Chicago's most desirable 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
    -87.646
    Latitude
    41.9454

    Comparable in this City

    • 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
      6,858 SF

      3043 Ashland Ave

      Individual retail properties • 6,858 SF
      3043 Ashland Ave, Chicago, IL 60657
      View Details
    • Value Estimation by Request
      90,455 SF

      3131 Clark St

      Lifestyle centers • 90,455 SF
      3131 Clark 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
    • 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

      706 Diversey Pkwy

      Restaurants
      706 Diversey Pkwy, Chicago, IL 60657
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      25,830 SF

      East Lakeview Retail Space Available

      881 SF retail space in vibrant East Lakeview neighborhood.
      3401-09 N Broadway St, Chicago, IL 60657
      View Details
    • Contact for pricing
      2,500 SF

      Prime Retail Condo For Sale

      Retail condo with high visibility in an affluent neighborhood.
      3347 N Clark St, Chicago, IL 60657
      View Details
    • $818,000
      2,400 SF

      Lakeview Retail Condo Investment

      Prime Lakeview storefront, 6.31% cap rate.
      1342 Belmont Ave, Chicago, IL 60657
      View Details
    • $888,000
      2,500 SF

      Lakeview Retail Storefront

      Prime Lakeview location, high NOI, redevelopment opportunity.
      3347 Clark St, Chicago, IL 60657
      View Details
    • $11,000,000
      15,239 SF

      Wrigleyville Mixed-Use Investment Opportunity

      Mixed-use property near Wrigley Field with hotel and brewery.
      3475 North Clark St, Chicago, IL 60657
      View Details
    • $11,000,000
      15,239 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

    • $38 SF/Yr
      310,000 SF

      Lakeview Retail Space for Lease

      Prime Lakeview storefront, divisible units.
      3460 Broadway St, Chicago, IL 60657
      View Details
    • $45 SF/Yr

      Lakeview East Retail Space Available

      New construction retail space in a high-traffic, walkable area.
      3160 N Broadway St, Chicago, IL 60657
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space on Belmont Avenue

      Retail space suitable for animal-related businesses with high foot traffic.
      2227 W Belmont Ave, Chicago, IL 60657
      View Details
    • Contact for pricing

      Chicago Retail Space on Lincoln

      Prime retail space in Lakeview, customizable for various businesses.
      2942 N Lincoln Ave, Chicago, IL 60657
      View Details
    • $35 SF/Yr
      3,071 SF

      Lakeview Retail Spaces Available

      New Chicago retail spaces, prime location.
      1138 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
    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.
    3460 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.