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    FOR LEASE
    Residential income homes

    1551 W Division St, Chicago, IL 60642

    6,100 SF 0.07 ac lot Built 1881
    Entity Owned 12-yr Hold Free & Clear
    Property ID
    US28-1842430
    Property summary
    AI-generated overview

    This exceptional 2,800-square-foot retail property, located at 1551 W Division St in Chicago, IL (zip code 60642), presents a unique investment opportunity. Priced at $899,000, this NNN-leased building boasts a striking clear-span design with impressive 22.5-foot high ceilings, completely free of columns or pillars. The space also includes a partial basement offering an additional 7-foot ceiling height, providing versatile storage or expansion potential. Previously occupied by a bar/nightclub, the property benefits from its high visibility and high-traffic location within the vibrant Polish Triangle neighborhood. Its strategic placement directly across the street from a busy Division Street CTA Blue Line L-stop and multiple bus stops ensures exceptional accessibility. Surrounded by a thriving mix of bars, restaurants, and established retailers, this property enjoys a prime commercial location. Adding to its convenience, the property is situated just two blocks from the I-90/94 expressway, providing easy access to major transportation routes. The lot size is 3,125 square feet, and the property is zoned B3-1. This property is for sale and represents a compelling opportunity for a discerning investor seeking a high-impact retail space in a dynamic Chicago neighborhood.

    Property profile
    Verified
    Property type Residential income homes
    Use group APARTMENT HOUSE (UNDER 5 UNITS)
    Year built 1881
    Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Total area 6,100 SF
    Lot 0.07 ac (3,125 SF)
    APN 17-05-300-003
    UPID US28-1842430
    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
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $1.37M
    Blend (final) Blend
    $990k
    Owner & transaction history
    1551 W Division Building LLC · 12 yrs held
    1551 W Division Building LLC
    since 2013
    7 recorded transactions
    2013
    $500,000
    2013
    2004
    2000
    $575,000
    1997
    $320,000
    1969
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    More about this property
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