2949 Broadway StChicago, IL 60657

Property Details for 2949 Broadway St

Year built

1911

Lot size

0.19 AC

Property size (Sq ft)

7,100 SF

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

14-28-112-001

APU

1428112001

Description

This exceptional 1,000-square-foot retail storefront is located at 2949 N Broadway in Chicago, Illinois, zip code 60657. The property is a single-tenant space ideal for a variety of uses. Previously occupied by a medical spa, the space features three exam rooms, a reception and waiting area, large windows providing excellent natural light, stylish wood flooring, plumbing, and ventilation. The layout is easily adaptable to suit different business needs. Situated in the vibrant Lakeview East neighborhood, this location boasts unparalleled foot traffic, benefiting from bustling weekend crowds, parades, events, and summer street festivals with outdoor dining options. The area is rich with complementary retail, restaurants, boutiques, and entertainment venues, creating a synergistic environment. This prime location offers exceptional accessibility with a Walk Score of 96 and a Bike Score of 91, making it a walker's and biker's paradise. Ample public transportation options are also readily available. The strong demographics further enhance the property's appeal, with a growing population of 89,611 within a one-mile radius, an average household income of $123,237, and a consumer spending power of $1.65 billion. The asking rent is $3,500 gross. This is a truly remarkable opportunity to establish a thriving business in one of Chicago's most desirable and dynamic neighborhoods.

• CAP approach

  CAP return

  Valuation

  6%

  $2,829,355

  6.5%

  $2,611,712

  7%

  $2,425,161

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,433,401

  Geo Method

  $1,433,401

• Alternative Use

  Use

  Valuation

  Residential

  $2,611,712

  Hospitality

  $2,392,314

  Educational

  $1,990,377

  Medical

  $2,058,829

  Retail

  $3,096,142

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9362

Longitude

-87.6441

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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