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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3962 Grand Ave Chicago, IL 60651

    • Retail space
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0097814
    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

    • Style N Cutz / Barber Shop

    Property Details for 3962 Grand Ave

    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    16-02-108-040-0000

    Description

    This exceptional mixed-use investment property, located at 3962 W Grand Ave in Chicago's West Humboldt Park neighborhood (zip code 60651, Cook County, IL), offers a compelling opportunity for investors seeking a stabilized, cash-flowing asset. The property, with an APN of 16-02-108-040-0000, boasts a total of eight units, including three two-bedroom, one-bathroom apartments

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.726441456054
    Latitude
    41.906042399766

    Comparable in this City

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      0.07 Acres

      Chicago Mixed-Use Building For Sale

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      Renovated Mixed-Use Building in Austin

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      Chicago Investment Property For Sale

      Newly remodeled apartments and businesses generating over $4k monthly.
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      4,875 SF

      Humboldt Park Retail Building For Sale

      4,875 SF building suitable for retail, office, or restaurant.
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    • $779,900
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      Chicago Commercial Brick Storefronts For Sale

      Income-producing commercial property with long-term tenants on a busy corner.
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    • $549,000
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      Chicago Commercial Space for Sale

      Former dollar store suitable for retail, office, or shared workspace.
      5101 W Division St, Chicago, IL 60651
      View Details

    Similar Nearby for Sale

    • $239,900
      0.07 Acres

      Chicago Mixed-Use Building For Sale

      Two-story mixed-use building with C-1-1 zoning in Chicago.
      4217 W Division St, Chicago, IL 60651
      View Details
    • $349,000
      0.06 Acres

      Renovated Mixed-Use Building in Austin

      Updated mixed-use property ideal for investors or owner-occupants.
      5645 W Division St, Chicago, IL 60651
      View Details
    • $449,000
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      Chicago Investment Property For Sale

      Newly remodeled apartments and businesses generating over $4k monthly.
      5941 W Chicago Ave, Chicago, IL 60651
      View Details
    • Contact for pricing
      4,875 SF

      Humboldt Park Retail Building For Sale

      4,875 SF building suitable for retail, office, or restaurant.
      3620 W Division St, Chicago, IL 60651
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    • $779,900
      0.34 Acres

      Chicago Commercial Brick Storefronts For Sale

      Income-producing commercial property with long-term tenants on a busy corner.
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    • $549,000
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      Chicago Commercial Space for Sale

      Former dollar store suitable for retail, office, or shared workspace.
      5101 W Division St, Chicago, IL 60651
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Unfinished Retail Space in Chicago

      Commercial space for rent on a busy Chicago street.
      3752 W Division St, Chicago, IL 60651
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    • $3,004 /Mo
      3,049 SF

      Prime Commercial Storefront in Humboldt

      Move-in ready commercial space in high-traffic Chicago location.
      3657 W Division St, Chicago, IL 60651
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    • New
      Contact for pricing

      Retail Space in West Humboldt

      High-visibility retail space with flexible build-out options in Chicago.
      3801 W Division St, Chicago, IL 60651
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      2,340 SF

      Retail Space on Cicero Avenue

      Retail space in high-traffic area near Midway Airport.
      6435 S Cicero Ave, Chicago, IL 60651
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      9,668 SF

      Retail Space Near Cicero Avenue

      Retail space available in high-traffic Cicero Road shopping center.
      3035 S Cicero Ave, Cicero, IL 60651
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      4,000 SF

      Retail Space in Cicero Center

      Retail space available in high-traffic Cicero shopping center.
      3021 S Cicero Ave, Cicero, IL 60651
      View Details
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    3962 Grand Ave
    Chicago, IL 60651
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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