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2622 Cermak Rd Chicago, IL 60608-6172

OFF-MARKET Retail residential properties Google Maps
3,200 SF 0.15 ac lot Built 1889
Entity Owned 6-yr Hold ~ Est. High Equity
Estimated value (blended)
$2.44M
Range $2.19M – $2.68M (±10%)
Property ID US28-2742877

Property summary

AI-generated overview

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.

Property profile

Verified
Property type Retail residential properties
Use group STORES & APARTMENTS
Year built 1889
Total area 3,200 SF
Lot 0.15 ac (6,715 SF)
APN 16-24-424-040
UPID US28-2742877

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
  • Marketing & Advertising Newspaper & Magazine
  • Recording Studio Clothing Store
  • Church

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$2.28M
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.44M
Blend (final) Blend
$2.44M

Owner & transaction history

since 2020
Last sale
$1.9M
7 recorded transactions
2020
$1.9M
2018
Price N/A
2016
$482,500
2016
$401,500
2004
Price N/A
1999
Price N/A
1999
$150,000

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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