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1821 Berteau Ave Chicago, IL 60613-1816

OFF-MARKET Retail space Google Maps
5,900 SF 0.14 ac lot Built 1919
Entity Owned Free & Clear
Estimated value (blended)
$455k
Range $410k – $501k (±10%)
Property ID US28-2359824

Property summary

AI-generated overview

This exceptional 18,723-square-foot executive office building, located at 1821 W Berteau Ave in Chicago's desirable Ravenswood neighborhood, presents a unique investment opportunity. Built in 1919 and completely renovated in 2009, this three-story Class B building boasts a modern interior while retaining its character. Currently vacant, the space is ideally suited for a single tenant, featuring loft offices on the first floor and climate-controlled office/production space on the upper two floors. The property benefits from a passenger elevator, video security system, high-tech dry fire suppression systems (second and third floors), one overhead door/exterior dock, and four 400-amp electric service lines. The building's RS-3 zoning, while grandfathered for existing office use, also presents potential for residential redevelopment in this strong residential market. A newer roof (less than 10 years old) and HVAC system further enhance its value. Its convenient location, just blocks from the Montrose and Irving Park Brown Line "L" stations, less than two miles from Lake Shore Drive, and under three miles from I-90/94, provides excellent accessibility. The surrounding area offers a wealth of amenities, including numerous retailers such as Jewel-Osco, Walgreens, CVS, and various restaurants. Proximity to Lake View High School and Wrigley Field adds to its appeal. This property offers a compelling combination of location, functionality, and redevelopment potential.

Property profile

Verified
Property type Retail space
Use group STORE, RETAIL OUTLET
Year built 1919
Total area 5,900 SF
Lot 0.14 ac (6,250 SF)
APN 14-18-412-011
UPID US28-2359824

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$1.26M
Comparable Approach Comparable
$1.53M
Blend (final) Blend
$455k

Owner & transaction history

since 2025
Last sale
$1.5M
5 recorded transactions
2025
$1.5M
2017
$2.5M
2009
$1.0M
1998
Price N/A
1998
Price N/A

Zoning & alternative use

Top alternative use upside
Apartment house (5+ units) $1.9M +118.7%
Neighborhood: shopping center $1.4M +64.3%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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