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4901 W Irving Park Rd Chicago, IL 60641

Retail space Google Maps
2.28 ac lot Built 1975
Entity Owned 9-yr Hold ~ Est. High Equity
Estimated value (blended)
$435k
Range $392k – $479k (±10%)
Property ID US28-1255750

Property summary

AI-generated overview

Portage Square, a two-story retail and office shopping center located at 4901 W Irving Park Rd in Chicago, IL, presents a compelling investment opportunity. This 60,448 square foot property sits on a 3-acre lot in Cook County (APN: 13-21-202-050-0000) and boasts 180 parking spaces, ensuring ample convenience for customers and employees. Built in 1957, the property offers a blend of established presence and redevelopment potential. Currently, there are multiple tenants, with a significant portion of the space available for lease. A total of 32,590 square feet is currently vacant, offering flexible options for prospective tenants. Spaces range from 4,000 to 18,000 square feet, catering to a variety of business needs. The property's prime location in Chicago's vibrant 60641 zip code ensures high visibility and accessibility. This is an exceptional chance to acquire a well-situated retail and office center with significant upside potential in a bustling Chicago neighborhood. The property's size and layout provide opportunities for both individual tenants and larger businesses seeking substantial space. The substantial vacant square footage presents a unique opportunity to customize the space to meet specific business requirements. This property is ideal for businesses seeking a strong presence in a well-established commercial area.

Property profile

Verified
Property type Retail space
Use group STORE, RETAIL OUTLET
Year built 1975
Lot 2.28 ac (99,317 SF)
APN 13-21-202-050
UPID US28-1255750

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
  • Gym & Fitness Center
  • (Bike/Boat/Book/etc) Store Wine and Liquor Store
  • (Bike/Boat/Book/etc) Store Wine and Liquor Store

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$435k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$435k

Owner & transaction history

since 2017
3 recorded transactions
2019
Price N/A
2017
Price N/A
2013
$2.9M

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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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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