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238 Cermak Rd Chicago, IL 60616-2972

OFF-MARKET Retail space Google Maps
0.09 ac lot Built 2003
Entity Owned 15-yr Hold ~ Est. High Equity
Estimated value (blended)
$365k
Range $329k – $402k (±10%)
Property ID US28-1837765

Property summary

AI-generated overview

This exceptional three-story, 10,000 square foot building located at 238 W Cermak Rd, Chicago, IL 60616, offers multiple office suites for lease. Built in 2003, the building features nine suites, with a minimum divisible space of 150 square feet. The property is zoned C1-3 and includes an elevator for convenient access. Currently, two spaces are available, previously used as a dental office, one approximately 400 square feet and two additional units of approximately 150 square feet each. The building's location in the heart of Chinatown offers excellent visibility and accessibility, with proximity to public transportation, shopping, and expressways. The lease includes property taxes, assessments, water, gas, and electricity, simplifying financial management. Ideal for various office uses, including traditional, medical, creative, and executive offices. The building's convenient amenities and prime location make it an attractive opportunity for businesses seeking a vibrant and accessible workspace. The property's APN is 17-21-420-062-0000. Interested parties should inquire about available suite sizes and lease terms.

Property profile

Verified
Property type Retail space
Use group STORE, RETAIL OUTLET
Year built 2003
Lot 0.09 ac (3,934 SF)
APN 17-21-420-062
UPID US28-1837765

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Law Firm
  • Medical Clinic
  • Bank
  • Financial Advisor
  • Home Health Care Service

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$365k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$365k

Owner & transaction history

since 2011
7 recorded transactions
2023
Price N/A
2023
Price N/A
2019
Price N/A
2011
Price N/A
2007
Price N/A
2007
Price N/A
2003
Price N/A

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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