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Property profile & analytics
OFF-MARKET Estimated value $3,055,000
Industrial properties

1220 Lk St Chicago, IL 60607-1602

7,500 SF 0.28 ac lot Built 1955
Entity Owned 2-yr Hold ~ Est. High Equity
Property ID
US28-0006315
Property summary
AI-generated overview

This exceptional 12,394-square-foot single-tenant retail space is located at 1220 West Lake Street in Chicago's vibrant Fulton Market submarket. Situated on a 0.29-acre lot, this property offers unparalleled flexibility for a wide range of uses, catering to office, retail, or industrial needs. The M2-3 zoning allows for diverse development options. The entire building is currently vacant, presenting a unique opportunity for a business to establish a significant presence in this highly sought-after area. The building's exterior is adaptable to rebranding, allowing for complete customization to reflect a tenant's specific identity. This prime location in the West Loop provides excellent visibility and accessibility, benefiting from the area's thriving commercial activity and strong pedestrian traffic. The property's address is 1220 W Lake St, Chicago, IL 60607. This is a chance to create a truly impactful space in one of Chicago's most dynamic neighborhoods. The property's size and zoning provide a blank canvas for a creative and successful business venture. The building's adaptability makes it an ideal choice for businesses seeking a unique and customizable space in a prime location. This is a rare opportunity to secure a substantial footprint in the heart of the Fulton Market district.

Property profile
Verified
Property type Industrial properties
Use group INDUSTRIAL (GENERAL)
Year built 1955
Total area 7,500 SF
Lot 0.28 ac (12,375 SF)
APN 17-08-320-018
UPID US28-0006315
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$3.13M
CAP Approach CAP
by Request
Comparable Approach Comparable
$4.10M
Blend (final) Blend
$3.06M
Owner & transaction history
Peppercorn 1220 LLC · 2 yrs held
Peppercorn 1220 LLC
since 2023
Last sale
$3.3M
6 recorded transactions
2023
$3.3M
2019
$3.7M
2013
Price N/A
2006
$1.3M
2005
$925,000
2000
$300,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores $4.7M +110.2%
Apartment house (5+ units) $2.3M +5.0%
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