Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1338 W Irving Park Rd, Unit 1 Chicago, IL 60613
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1338 W Irving Park Rd, Unit 1 Chicago, IL 60613

    View on Map
    • Office properties & Spaces
    • 0.85 lot acres
    For Lease
    $2.00 SF/Yr
    View Listing →
    1338 W Irving Park Road #1, Chicago, IL 60613 For Lease
    $2.00 SF/Yr

    1338 W Irving Park Road #1, Chicago, IL 60613

    Updated live/work unit in Lakeview near Southport Corridor.

    1338 W Irving Park Rd,Unit 1, Chicago, IL 60613
    View Listing
    Property ID
    US28-2475636
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 1338 W Irving Park Rd

    Year built
    1914
    Lot size
    0.85 lot acres
    Property type
    Office properties & Spaces
    APN
    14-17-315-014-1048
    APU
    14173150141048

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6639
    Latitude
    41.955
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $5,579
    $6,012
    $21,110
    $27,122
    -
    $24,048
    $84,440
    $108,488

    Comparable in this City

    • Value Estimation by Request
      0.08 Acres

      3627 Sheffield Ave Ste, Unit 2

      CONDOMINIUM OFFICES • 0.08 Acres
      3627 Sheffield Ave Ste, Chicago, IL 60613-4365
      View Details
    • Value Estimation by Request
      0.74 Acres

      1733 Irving Park Rd Ste, Unit 2

      CONDOMINIUM OFFICES • 0.74 Acres
      1733 Irving Park Rd Ste, Chicago, IL 60613-2562
      View Details
    • Value Estimation by Request
      0.12 Acres

      3613 Ashland Ave

      CONDOMINIUM OFFICES • 0.12 Acres
      3613 Ashland Ave, Chicago, IL 60613-3617
      View Details
    • Value Estimation by Request
      0.34 Acres

      1449 Irving Park Rd, Unit 57

      CONDOMINIUM OFFICES • 0.34 Acres
      1449 Irving Park Rd, Chicago, IL 60613-1922
      View Details
    • Value Estimation by Request

      1952 Cuyler Ave

      CONDOMINIUM OFFICES
      1952 Cuyler Ave, Chicago, IL 60613-6057
      View Details
    • Value Estimation by Request
      205,000 SF

      840 Irving Park Rd

      Medical Office Space • 205,000 SF
      840 Irving Park Rd, Chicago, IL 60613
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      850 SF

      1449 W Irving Park Rd, Chicago, IL 60613

      Retail space • 850 SF
      1449 W Irving Park Rd, Chicago, IL 60613
      View Details
    • $775,000

      Buena Park Retail/Commercial Condo

      4,320 SF retail/commercial condo in Buena Park neighborhood.
      4144 N Sheridan Rd, Chicago, IL 60613
      View Details
    • $258,775

      Lakeview Commercial Condo For Sale

      Commercial condo in Lakeview with office/retail space and parking.
      1471 W Irving Park Rd, Chicago, IL 60613
      View Details
    • Contact for pricing
      3,600 SF

      Halsted Retail Condos Near Whole Foods

      Two retail condos in Chicago's Lakeview neighborhood, excellent frontage.
      3629 N Halsted St, Chicago, IL 60613
      View Details
    • $1,300,000
      3,600 SF

      Renovated Medical Space in Lakeview

      Completely renovated medical space in high-demand Chicago retail corridor.
      3916 N Broadway St, Chicago, IL 60613
      View Details
    • Contact for pricing
      650 SF

      Retail/Office Condo on Irving Park

      Small retail/office condo with high ceilings and ample traffic.
      1455 W Irving Park Rd, Chicago, IL 60613
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr

      Office/Retail Space Available for Lease

      Office, retail, or administrative uses permitted with business plan.
      901 W Irving Park Rd, Chicago, IL 60613
      View Details
    • $26 SF/Yr

      Renovated Loft Office Space

      Newly renovated 635 SF loft office space for rent.
      1806 W Cuyler Ave, Chicago, IL 60613
      View Details
    • $65 SF/Yr

      New Timber Loft Office Suite

      Brand new 155 SF timber loft office space for rent.
      1806 W Cuyler Ave, Chicago, IL 60613
      View Details
    • $39 SF/Yr

      New Timber Loft Office Suite

      336 SF timber loft office space with modern amenities.
      1806 W Cuyler Ave, Chicago, IL 60613
      View Details
    • $34 SF/Yr
      2,199 SF

      Office Space in Thorek Hospital

      Office space available within Thorek Memorial Hospital in Chicago.
      836-840 W Irving Park Rd, Chicago, IL 60613
      View Details
    • $26 SF/Yr

      Remodeled Loft Office Suite

      Remodeled loft office suite with exposed brick and hardwood floors.
      1806 W Cuyler Ave, Chicago, IL 60613
      View Details
    View Listing
    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.
    1338 W Irving Park Rd, Unit 1
    Chicago, IL 60613
    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.
    Sign Up Successful!
    You now have access to more from Realmo!