Property profile

871 Larrabee St Chicago, IL 60610

OFF-MARKET
Commercial real estate
Property ID
US28-4895146
Trust Owned 7-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 1,200 square foot condo at 871 N Larrabee Street in Chicago, Illinois presents a fantastic opportunity for discerning business owners. Boasting exceptional street-level visibility with floor-to-ceiling windows and over 30 feet of frontage, this property is ideally suited for a variety of commercial uses. The unit is in excellent condition and is move-in ready, eliminating the need for extensive renovations. Its prime location within a thriving neighborhood offers significant advantages. Surrounded by established residences and adjacent businesses, this property benefits from a strong existing customer base and the energy of exciting new developments, including several high-rise buildings slated to open soon. The proximity to the historic Montgomery Ward Building, home to notable tenants such as Groupon, Echo, Big10 Network, and the luxury spa Bian, further enhances its appeal and provides access to a vibrant and dynamic community. A parking space is available for an additional $20,000, adding significant convenience for both employees and clients. This is a rare opportunity to secure a high-visibility, move-in ready commercial space in a rapidly developing and desirable Chicago location. The asking price for this exceptional property is $329,000.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
APN 17-04-324-115
UPID US28-4895146

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
  • (Bike/Boat/Book/etc) Store

Location

871 Larrabee St Chicago, IL 60610-2425
Chicago metro Census 81900 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
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Value estimations

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

Owner & transaction history

since 2018
2 recorded transactions
2018
Price N/A
2015
$375,000

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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