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942 Lk St Chicago, IL 60607-1718

OFF-MARKET Retail space Google Maps
Entity Owned 17-yr Hold Free & Clear
Estimated value (blended)
$485k
Range $437k – $534k (±10%)
Property ID US28-4105444

Property summary

AI-generated overview

This exceptional Chicago retail property, located at 942 W Lake St in Cook County, IL, offers a unique opportunity for a variety of businesses. The building, constructed in 1890, boasts a total of 6,467 square feet, with 3,363 square feet currently available for lease. The space is configured as a multi-tenant property and previously housed an art studio. The main level features approximately 3,363 square feet of expansive open space with real hardwood maple flooring, high ceilings, custom lighting, and multiple private offices. A lower level, offering an additional approximately 3,100 square feet, includes numerous open rooms, ample storage, and a full bathroom with a shower. This prime location is steps from the El station, restaurants, and vibrant nightlife, making it highly accessible and attractive to customers and employees. The monthly rent is $6,500 on a modified gross lease, and the property is ready for immediate occupancy. The property's unique character and convenient location make it perfect for creative businesses such as art studios, yoga studios, architecture firms, salons, or any business seeking a unique and open-concept space. The zip code is 60607.

Property profile

Verified
Property type Retail space
Use group STORE, RETAIL OUTLET
APN 17-08-423-012
UPID US28-4105444

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
  • Property Management Company
  • Artist

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$485k

Owner & transaction history

since 2008
1 recorded transaction
2008
Price N/A

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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