Property profile & analytics
2622 Cermak Rd Chicago, IL 60608-6172
- Retail residential properties
- 3,200 SF
- 0.15 lot acres
OFF-MARKET
Last Sale
Mar 12, 2020
Mar 12, 2020
$1,850,000
Value Estimations
$1,945,000
Show details
Cap Rate Potential
2.2%
Retail residential properties
Location Intelligence
Property ID
US28-2742877
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
- TribeX Enterprises / Marketing & Advertising / Newspaper & Magazine
- The Village_Off The Lake / Clothing Store / Coworking Space
- Great Hope Family Center / Church
Property Details for 2622 Cermak Rd
- Year built
- 1889
- Lot size
- 0.15 lot acres
- Property size
- 3,200 SF
- Property type
- Retail residential properties
- APN
- 16-24-424-040
- APU
- 1624424040
Description
This exceptional 1500-square-foot vacant storefront on Cermak Road presents a unique opportunity for a variety of businesses. The space is ideally suited for creative office use, a retail establishment, or a combination of both, offering a flexible layout adaptable to diverse needs. The property features two bathrooms and central air conditioning and heating, ensuring year-round comfort. Its prime location on a busy commercial corridor guarantees high visibility and significant foot traffic, further enhanced by its proximity to Pete's Fresh Market. The storefront enjoys excellent street visibility, making it an ideal location for attracting customers. Potential uses include, but are not limited to, a convenient store, hair salon, recording studio, coffee shop, bakery, medical office, live/work space, or traditional office. The base rent is $1800 per month. For multi-year leases, tenants are responsible for approximately $300 per month in additional costs, covering 10% of property taxes, water, and trash. This represents a compelling investment opportunity in a thriving commercial area. The property's versatility and prominent location make it an exceptional choice for businesses seeking high visibility and a strong customer base.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,435,000
- ML approach
- $2,275,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,435,000
Market price range: $285k - $2.44M
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6915
- Latitude
- 41.8522
- 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
$38,214
$7,050
$178,742
$185,792
-
$70,500
$1,787,420
$1,857,920
