1303 W Chicago Ave 2,174 SF Retail Building Chicago, IL 60642 $556,800 ($256.12/SF)

KW Commercial is pleased to offer the opportunity to purchase 1303 W Chicago Ave, Chicago, IL. This mixed-use building in Chicago’s West Town neighborhood presents an exceptional investment opportunity. Situated on Chicago Ave, across from Eckhart Park and Field House, and just steps from the Chicago Blue Line stop and Milwaukee Ave, this property boasts a prime location with high visibility and strong rental potential. The 1,100 SF open retail space features 11-foot clearance ceilings, white tin ceilings, and original wooden floors, offering a unique and character-rich setting.
Previously used as a photographer's studio, and home to the Stolen Buick Studio, the commercial space includes a dark room for film development. Zoned B1-2, this space accommodates a variety of business types, including art galleries & studios, boutique retail & showrooms, cafés, specialty coffee, or juice bars, creative offices & design studios, wellness & beauty services, tattoo & piercing studios, photography & content creation studios, and specialty retail. The average lease rate for similar commercial spaces in the area is $29.00 per square foot (PSF), with lease types such as MG (Modified Gross) or NNN (Triple Net) offering peace of mind to ownership. In this highly sought-after area, leases typically begin at a five-year minimum term, providing stability and long-term rental income.
The second-floor two-bedroom, one-bathroom residential unit overlooks Chicago Ave and includes a full HVAC system (forced hot and cold air), original wooden floors, an ample-sized kitchen, and separate living and dining rooms. Its layout enhances the sense of openness, allowing natural light and movement to flow seamlessly between rooms. The building also features a wooden deck and large backyard, perfect for relaxing or entertaining. Residential rental rates in West Town for similar two-bedroom units typically range between $2.20 to $3.00 per square foot, depending on unit size, location, and amenities.
The property is located in an area which has experienced significant rental growth, with multiple new developments transforming the landscape. The property next door is a new development, adding to the long-term appreciation potential of this area and enhancing its desirability for commercial and residential tenants alike. Steps from popular restaurants, cafés, and local shops, this property is in a dynamic atmosphere. The 66 Chicago Avenue CTA bus stops right at the door, and the Chicago Blue Line station is just two blocks away, providing seamless connectivity. Easy access to I-90/I-94 enhances convenience.
A short walk from the West Loop, known for its innovation, dining, nightlife, and new commercial developments. Directly across from Eckhart Park and Field House, offering green space and community amenities. With strong rental potential, high visibility, and a prime location, this property presents a rare opportunity for investors, business owners, and those seeking a dynamic live/work space in one of Chicago’s most desired neighborhoods. Don’t miss your chance to own this exceptional mixed-use building in the heart of West Town. Contact us today for more details! Note: Rental rates are based on current market listings as of March 1, 2025, and may vary based on specific unit features and market conditions.