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    Property profile & analytics

    1020 Lawrence Ave Chicago, IL 60640

    • Commercial real estate
    • 4,995 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1126948
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Heritage Outpost / Coffee Shop / Cafe
    • Larry's at The Lawrence House / Pub / Cocktail Bar
    • The Lawrence House Uptown / Apartment Complex / Apartment Rental Agency
    • PrintWithMe Print Kiosk at The Lawrence House / Print Shop
    • Breakfast House Uptown / Restaurant

    Property Details for 1020 Lawrence Ave

    Property size
    4,995 SF
    Property type
    Commercial real estate

    Description

    This exceptional 4,995-square-foot executive office suite presents a unique opportunity for businesses seeking a prestigious location in Chicago's vibrant Uptown neighborhood. Situated on the first floor of the Lawrence House, a full-amenity building, this single-tenant space boasts a custom design and is ready for immediate occupancy. The entire space is currently vacant, offering complete flexibility for tenant build-out and customization. The property is zoned B3-5, allowing for a variety of commercial uses. Conveniently located in Cook County, Illinois, with a 60640 zip code, this property offers unparalleled access to public transportation, with the Lawrence Avenue Red Line stop just one block away. Existing office furniture is available for purchase, providing a seamless transition for relocating businesses. This is a rare opportunity to establish a prominent presence in a highly desirable area of Chicago. The address is 1020 W Lawrence Avenue. The property's size and location make it ideal for a variety of businesses seeking a sophisticated and well-connected workspace. This single-tenant occupancy ensures privacy and control over the entire space. Don't miss this chance to secure this exceptional office space in a thriving Chicago neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6558099
    Latitude
    41.9691927

    Comparable in this City

    • $21 SF/Yr

      Second Floor Office Space

      Second floor office space in Sheridan Park neighborhood.
      1218 W Wilson Ave, Chicago, IL 60640
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    • $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
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    • $14 SF/Yr

      Uptown Chicago Plug-and-Play Office

      Recently rehabbed 2,335 sq. ft. office space for rent.
      5009 N Sheridan Rd, Chicago, IL 60640
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    • $28 SF/Yr
      60,000 SF

      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

      Chicago Retail/Office Space For Rent

      3,000 SF retail or office space in vibrant Uptown/Edgewater.
      5256 N Broadway St, Chicago, IL 60640
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    • $24 SF/Yr
      228,800 SF

      Uptown Chicago Office Space

      Modern Uptown Office, 5,257 SF Available
      4848 Sheridan Rd, Chicago, IL 60640
      View Details

    Similar Nearby for Sale

    • $314,000
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      Freestanding Commercial Building Near Lawrence

      2000 SF mixed-use building with parking and high visibility.
      5924 W Lawrence Ave, Chicago, IL 60640
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    • New
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      Uptown Chicago Retail/Office Condo

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      Uptown Condo with Modern Comfort

      Beautifully maintained 2 bed, 2 bath condo near Red Line.
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      Luxury Condo with City Views

      One-bedroom condo with city views, parking, and premium amenities.
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      Albany Park Mixed-Use Investment

      Nine-unit mixed-use property in the Lawrence/Kedzie TIF district.
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    Similar Nearby for Lease

    • $21 SF/Yr

      Second Floor Office Space

      Second floor office space in Sheridan Park neighborhood.
      1218 W Wilson 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
    • $14 SF/Yr

      Uptown Chicago Plug-and-Play Office

      Recently rehabbed 2,335 sq. ft. office space for rent.
      5009 N Sheridan Rd, Chicago, IL 60640
      View Details
    • $28 SF/Yr
      60,000 SF

      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

      Chicago Retail/Office Space For Rent

      3,000 SF retail or office space in vibrant Uptown/Edgewater.
      5256 N Broadway St, Chicago, IL 60640
      View Details
    • $30 SF/Yr

      New Construction Commercial Space Available

      Commercial space in new construction, close to amenities and transportation.
      952 W Carmen Ave, Chicago, IL 60640
      View Details

    Property Visit Statistics

    • Visits by month
      4.1k
    • Visitors by month
      2.7k
    • Avg Time on site
      15 min
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    1020 Lawrence Ave
    Chicago, IL 60640
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    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
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