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1911 W Chicago Ave 4,945 SF 100% Leased Retail Building Chicago, IL 60622 $1,872,970 CAD ($378.76 CAD/SF) 7.46% Cap Rate
Investment Highlights
- Retail tenant: Passages Bookstore and Wine Bar, NNN lease through 3/15/2029, one (1) 5-year option at FMV
- Located within the Chicago Avenue TOD overlay boundary
- Excellent retail co-tenancy in immediate area, including Brasero, Guillotine Bakery, Roots Handmade Pizza, Mariano's, Lao Peng You, Altar Cafe, etc.
- Fully occupied, stabilized asset with newly renewed residential leases
- Room for rent growth: retail at $28/SF NNN, below current Chicago Ave market rates
- Owned by an Illinois licensed real estate broker (disclosure required)
Executive Summary
This offering features a fully occupied, stabilized two-story mixed-use building consisting of one NNN retail unit, two residential units, and a 2-car garage. The retail space is leased to Passages Bookstore and Wine Bar through March 2029. The asset is located within the Chicago Avenue TOD overlay boundary and features newly renewed residential leases. West Town is one of Chicago's most dynamic submarkets, known for its historic character, modern development, and highly walkable, amenity-rich environment. Owned by an Illinois licensed real estate broker
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
4,945 SF
Building Class
C
Year Built
1920
Price
$1,872,970 CAD
Price Per SF
$378.76 CAD
Cap Rate
7.46%
NOI
$139,684 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.62
Lot Size
0.07 AC
Zoning
B3-2 - B3-2 zoning permits residential above ground floor with broad commercial use allowance
Frontage
Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
90/100
Very bikeable
80/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 17-07-200-019-0000 | Improvements Assessment | $94,681 CAD |
| Land Assessment | $29,957 CAD | Total Assessment | $124,638 CAD |
Property Taxes
Parcel Number
17-07-200-019-0000
Land Assessment
$29,957 CAD
Improvements Assessment
$94,681 CAD
Total Assessment
$124,638 CAD
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1911 W Chicago Ave
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