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1659 W Chicago Ave
Chicago, IL 60622
Office/Retail Property For Sale
Investment Highlights
- Highly visible corner at signalized intersection
- Strong retail trade area
- 50' of frontage on Chicago Ave
Executive Summary
This prime 1,720 SF corner commercial asset at signalized intersection in the heart of West Town offers a turnkey investment opportunity with a strong 7.5% cap rate. Zoned B1-2, the property is secured by a stable 4-year lease running from April 2026 through March 2030, generating an annual NOI of $44,160 with built-in 3% annual escalations to hedge against inflation. Priced competitively at $589,000 with 2024 taxes at $12,944, this is a rare chance to acquire a cash-flowing, low-maintenance property in one of Chicago’s most resilient retail corridors.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | APN/Parcel ID | 17-07-203-039-0000 |
| Cap Rate | 7.50% |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| APN/Parcel ID | 17-07-203-039-0000 |
Description
1,730 SF corner storefront on high-traffic Chicago Avenue
- B1-2 zoning with flexible use potential
- Two ADA-compliant restrooms
- Strong visibility with excellent signage/branding opportunity
- No HOA or assessments
Ideal for investment/1031 Exchange
Sale Notes
Exceptional fully leased corner retail condo.
7.5% Cap Rate
7.5% Cap Rate
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 1 | 1,720 SF | Office/Retail | Upon Request | $61,097.57 CAD |
Unit 1
| Unit Size |
| 1,720 SF |
| Condo Use |
| Office/Retail |
| Price |
| Upon Request |
| NOI |
| $61,097.57 CAD |
1 of 0
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Unit 1
| Unit Size | 1,720 SF |
| Condo Use | Office/Retail |
| Price | Upon Request |
| NOI | $61,097.57 CAD |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| APN/Parcel ID | 17-07-203-039-0000 |
| Description | |
| 1,730 SF corner storefront on high-traffic Chicago Avenue<br> <ul style="list-style: disc; padding: 0px 0px 0px 40px"><li> B1-2 zoning with flexible use potential<br> </li><li> Two ADA-compliant restrooms<br> </li><li> Strong visibility with excellent signage/branding opportunity<br> </li><li> No HOA or assessments<br> Ideal for investment/1031 Exchange</li></ul> | |
| Sale Notes | |
| Exceptional fully leased corner retail condo. <br> 7.5% Cap Rate</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 15,224 SF | Floors | 1 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 1,730 SF |
| Property Subtype | Apartment | Year Built | 2008 |
| Building Class | B | ||
| Zoning | B1-2 - B1-2 Neighborhood Shopping District. Allows a broad range of retail, office, medical, wellness, and service-based uses. | ||
| Total Building Size | 15,224 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 1 |
| Typical Floor Size | 1,730 SF |
| Year Built | 2008 |
| Zoning | B1-2 - B1-2 Neighborhood Shopping District. Allows a broad range of retail, office, medical, wellness, and service-based uses. |
Amenities
Site Amenities
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 2+1 | 6 | - | - |
1 of 59
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
