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3024 Laramie Ave Chicago, IL 60641-5051

OFF-MARKET Retail space Google Maps
3,300 SF 0.1 ac lot Built 1928
Individually Owned ~ Est. High Equity
Estimated value (blended)
$505k
Range $455k – $556k (±10%)
Property ID US28-4231020

Property summary

AI-generated overview

This exceptional 4,125 square foot commercial property located at 3024 N Laramie Avenue in Chicago, Illinois, presents a remarkable investment or business opportunity. The building offers incredible versatility, suitable for a wide range of uses including restaurants, churches, offices, or medical facilities. The property boasts two furnaces and air conditioning for year-round comfort. A fully equipped commercial kitchen is a key feature, including a commercial stove range with hood and exhaust, three compartment sinks, a freezer, griddle, and steam table. Ample preparation tables and shelving are also included, along with smaller cookware. The space further benefits from a beautiful wood wet bar, adding a touch of elegance. Included in the sale are tables and chairs, security cameras, two televisions, and a sign, ready for immediate use. Owner financing is available, making this an even more attractive proposition for potential buyers. The property is also available for lease, providing additional flexibility. This is a truly unique opportunity to acquire a well-equipped and versatile commercial space in a desirable Chicago location. Don't miss out on this chance to establish your business or expand your investment portfolio.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1928
Total area 3,300 SF
Lot 0.1 ac (4,160 SF)
APN 13-28-115-030
UPID US28-4231020

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
  • Hair Salon Nail Salon
  • Take-out & Catering Catering Service
  • Hotel & Motel Resort

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$700k
Comparable Approach Comparable
$623k
Blend (final) Blend
$505k

Owner & transaction history

since 2025
7 recorded transactions
2025
$350,000
2021
Price N/A
2019
$285,000
2016
Price N/A
2012
Price N/A
2004
$255,000
2001
Price N/A

Zoning & alternative use

Top alternative use upside
Neighborhood: shopping center $790,000 +84.8%
Auto repair, garage $605,000 +41.4%
Office building $445,000 +4.1%

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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