828 Grace StChicago, IL 60613

Property Details for 828 Grace St

Year built

2005

Lot size

0.65 AC

Property type

Retail properties

Property subtype

Parking lots & garages

APN

14-20-214-043-1294

APU

14202140431294

Description

This 3,106 square foot retail space at 828 W Grace St in Chicago's vibrant Lake View East neighborhood presents a unique investment opportunity. Built in 2007, the property boasts a single-tenant occupancy and is currently vacant. The space features full-length windows and attractive stone storefronts with convenient street-level entry. Its location is exceptional, just one block west of Broadway, placing it within walking distance of Lake Michigan, Wrigley Field, Belmont Harbor, and numerous restaurants and theaters. The property benefits from its proximity to a high-density residential area, including a 140-unit condo building, and is surrounded by a variety of national retailers such as Whole Foods, Starbucks, and many others, ensuring high foot traffic and visibility. The area is experiencing significant growth with new residential developments further increasing population density. This property is ideal for a variety of retail uses and offers excellent potential for a strong return on investment. The address is 828 W Grace St, Chicago, IL 60613. The property is situated in a prime location within the Lakeview submarket.

• CAP approach

  CAP return

  Valuation

  6%

  $13,361,345

  6.5%

  $12,333,549

  7%

  $11,452,581

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,283,329

  Geo Method

  $9,283,329

• Alternative Use

  Use

  Valuation

  Residential

  $10,403,810

  Hospitality

  $9,529,834

  Educational

  $7,928,710

  Medical

  $8,201,390

  Retail

  $12,333,549

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9516

Longitude

-87.651

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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