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2556 Laramie Ave Chicago, IL 60639-2452

OFF-MARKET Retail space Google Maps
1,100 SF 0.16 ac lot Built 1961
Entity Owned ~ Est. High Equity
Estimated value (blended)
$240k
Range $216k – $264k (±10%)
Property ID US28-5696773

Property summary

AI-generated overview

This exceptional commercial property, located at 2556 N Laramie Ave in Chicago, IL 60639, presents a unique investment opportunity. Situated at the corner of Laramie Ave and Wrightwood Ave, at a traffic light intersection, this freestanding building boasts strong street presence and visibility. Its strategic location between Fullerton Ave and Diversey Ave ensures high traffic volume and pedestrian count, ideal for a variety of businesses. The property includes approximately 1,100 to 7,200 square feet of space, with ample parking available. The B 1-1 zoning permits mixed-use development, making it suitable for redevelopment and accommodating numerous businesses, including retail, office, and special purpose uses. The current building has housed a diverse range of tenants, including a dentist, medical labs, a fast-food restaurant, an attorney's office, a mortgage office, retailers, and tobacco shops. The property's high visibility is further enhanced by a prominent, easily visible sign. Its proximity to major roads, interstates, and O'Hare Airport adds to its appeal. The 2023 annual real estate taxes are $9,400. A drive-thru possibility exists, adding further potential for various business models. This property is surrounded by major retailers and well-populated residential and commercial districts, ensuring a strong customer base. This is an excellent opportunity to acquire a high-traffic, versatile commercial property in a thriving Chicago neighborhood.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1961
Total area 1,100 SF
Lot 0.16 ac (7,137 SF)
APN 13-28-321-045
UPID US28-5696773

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
  • Dental Office

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$250k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$240k

Owner & transaction history

since 2025
Last sale
$300,000
5 recorded transactions
2025
$300,000
2011
Price N/A
2006
Price N/A
2006
$380,000
2005
$270,000

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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