Property profile & analytics
162 Grand Ave Chicago, IL 60654-4475
- Retail space
- 5,300 SF
- 0.04 lot acres
OFF-MARKET
Value Estimations
$805,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US28-1590616
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
- Art of Escape Room / Arcade & Gaming Center
- Sherwin & Sherwin / Law Firm
- Atwater Development / Real Estate Agency
- Contrast Design Group, Inc. / Interior Design / Home Decor Store
- Scott D. Sherwin / Law Firm
Property Details for 162 Grand Ave
- Year built
- 1881
- Lot size
- 0.04 lot acres
- Property size
- 5,300 SF
- Property type
- Retail space
- Property subtype
- Storefront properties
- APN
- 17-09-238-006
- APU
- 1709238006
Description
This stunning three-story, 2,046 square foot office building, constructed in 1881 and renovated in 2020, presents a unique opportunity in Chicago's vibrant River North neighborhood. Located on Grand Avenue, this Class B property offers a single available space perfect for a small business seeking a full floor occupancy. The building boasts charming architectural details including four-sided windows providing abundant natural light and original fireplaces, complemented by a newly renovated, elegant lobby. The compact floor plates are ideal for businesses seeking a unique and character-filled workspace. Exterior signage opportunities are available, providing excellent branding potential. The building's convenient location offers easy access to the Brown, Purple, and Red CTA lines, numerous bus routes, and a wealth of dining, shopping, and entertainment options. The property is zoned B7-5 and has a Cook County APN of 17-09-238-006-0000. This is a rare chance to secure a historic yet modernized office space in a prime Chicago location. The building consists of one structure with three stories.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,220,000
- 6.5%
- $1,130,000
- 7%
- $1,045,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,076,000
- AI Estimate
- $545,000
Market price range: $364k - $1.38MMarket price range: $175k - $700k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $770,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $1,265,000 Change: +64% Conversion: Moderate
- APARTMENT HOUSE (5+ UNITS)
- $910,000 Change: +18% Conversion: Difficult
- OFFICE BUILDING
- $805,000 Change: +4% Conversion: Easy
- AUTO REPAIR, GARAGE
- $635,000 Change: -18% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6336
- Latitude
- 41.8918
- 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
$68,796
$97,350
$237,125
$334,475
-
$389,400
$948,500
$1,337,900
