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1659 W Chicago Ave 1,730 SF Retail Condo Unit Offered at $808,541 CAD in Chicago, IL 60622
Investment Highlights
- Prime corner storefront
- No HOA
- 4% full commission offered to buyer’s broker at closing
- Large windows 12 ft ceiling height with open floor plan
- Two ADA restrooms
- Perfect for 1031 buyers seeking fast closing & value-add upside
Executive Summary
1659 W Chicago Ave is a well-located 1,730 SF corner retail condo in the heart of West Town / East Village, one of Chicago’s most active and evolving neighborhood retail corridors. The space features an efficient open layout with approximately 12-foot ceilings, large storefront windows, and strong natural light. The unit includes two ADA-compliant restrooms and separate utility meters, providing flexibility for a variety of retail and service uses. Positioned on a prominent corner along Chicago Avenue, the property offers excellent street visibility, expansive frontage, and consistent foot and vehicle traffic. The surrounding area is anchored by a strong mix of restaurants, boutique retailers, and dense residential development, supporting long-term tenant demand and neighborhood growth. The property is currently fully leased under a NNN structure, making it suitable for investors seeking a stabilized retail asset in a high-demand Chicago location.
1 Unit Available
Unit 1659
| Unit Size | 1,730 SF | Cap Rate | 7.46% |
| Price | $808,541 CAD | NOI | $60,317.13 CAD |
| Price Per SF | $467.36 CAD | Sale Conditions | 1031 Exchange |
| Condo Use | Retail | APN/Parcel ID | 17-07-203-039-0000 |
| Sale Type | Investment |
| Unit Size | 1,730 SF |
| Price | $808,541 CAD |
| Price Per SF | $467.36 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 7.46% |
| NOI | $60,317.13 CAD |
| Sale Conditions | 1031 Exchange |
| APN/Parcel ID | 17-07-203-039-0000 |
Description
The condo features a clean, efficient open layout with approximately 12-foot ceilings, large storefront windows, and abundant natural light. The space includes two ADA-compliant restrooms and separate utility meters, enhancing tenant usability and flexibility. Its prime corner location provides expansive frontage and excellent visibility, a key driver of tenant retention and long-term rental growth.
Sale Notes
1659 W Chicago Ave presents a rare opportunity to acquire a fully leased, income-producing corner retail condo in the heart of West Town / East Village—one of Chicago’s most active and rapidly evolving commercial corridors.
The property is currently leased under a NNN structure, providing immediate cash flow with minimal landlord responsibilities, as the tenant is responsible for real estate taxes, utilities, and operating expenses.
Positioned on a high-visibility corner along Chicago Avenue, the asset benefits from strong foot and vehicle traffic, large storefront windows, and prominent street frontage—key factors supporting long-term tenant demand and rental growth.
Surrounded by established restaurants, boutique retailers, and continued residential development, the property is located in a high-demand stretch between Damen and Ashland. The area has experienced consistent investment and retail expansion, contributing to increasing rental rates and long-term property value appreciation.
The existing lease includes annual rent increases, providing built-in income growth and enhancing overall investment performance over time.
This offering is ideal for investors seeking a stable NNN retail asset with upside, including 1031 exchange buyers looking for immediate income, low management, and exposure to a strengthening Chicago retail corridor.
Seller is offering a 4% commission to the buyer’s broker.
Property Facts
Amenities
Site Amenities
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 2+1 | 6 | - | - |
Presented by
1815 SALON LLC
1659 W Chicago Ave
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