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4837 N Lipps Ave Chicago, IL 60630

Retail space Google Maps
0.15 ac lot
Entity Owned 5-yr Hold ~ Est. High Equity
4837 N Lipps Ave, Chicago, IL 60630 For Lease
$19 SF/Yr
4837 N Lipps Ave, Chicago, IL 60630
View Listing →
Estimated value (blended)
$400k
Range $360k – $440k (±10%)
Property ID US28-2036087

Property summary

AI-generated overview

The Jefferson Park Firehouse is a former firehouse and warehouse building configured with two separate spaces on the first floor, each approximately 2,000 square feet and featuring 14-foot ceiling heights. The two spaces can be combined into a contiguous 4,000-square-foot area. Each space has a 10-foot overhead door and includes free basement storage. The property is situated in a high-traffic area near the Jefferson Park Blue Line “el” and Metra station, with Milwaukee Avenue and Lawrence Avenue nearby, providing visibility from the rail corridor. It is zoned C1-3 and is suited for uses such as a brewery, restaurant, bar, and other retail. The site includes one parking space per unit, with additional street parking available on Lipps and Ainslie and in nearby lots, and it provides access to Interstate 90 and Interstate 94 as well as proximity to a PACE Pulse Express bus stop in a transit-oriented development (TOD) area.

Property profile

Verified
Property type Retail space
Use group STORE, RETAIL OUTLET
Lot 0.15 ac (6,613 SF)
APN 13-09-332-001
UPID US28-2036087

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$400k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$400k

Owner & transaction history

since 2021
2 recorded transactions
2023
Price N/A
2021
$208,000

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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