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3012 N Laramie Ave 8,550 SF 100% Leased Retail Building Chicago, IL 60641 $725,000 ($84.80/SF)
Investment Highlights
- Black Iron In Place
- Modern Apartments
- 11,600 VPD
- Spacious Retail Unit
- Garage Parking & Drive-In Door
- Owner User Potential | Value Add Opportunity
Executive Summary
Five-unit mixed-use building consisting of two ground-floor retail spaces and three apartments above. The retail storefronts are currently combined for the use of a single business, but can be seamlessly separated. The retail unit features black iron in the kitchen, open floor plan, a partial basement, and dedicated storage. The three apartments above are all 2-bed 1-bath units, and are occupied by tenants on month-to-month leases. The property also provides three rear parking spaces, including one garage space and two surface spots.
Located in Chicago’s Belmont Cragin neighborhood on the city’s northwest side, the property benefits from a dense residential base and an established commercial corridor. The area is characterized by a mix of single-family homes and multifamily buildings, supporting consistent demand for both housing and neighborhood retail. Belmont Cragin is anchored by strong local businesses, service-oriented retail, and steady foot and vehicle traffic along key thoroughfares. The neighborhood also offers access to nearby green space, including Riis Park, contributing to long-term residential stability and tenant retention.
Located in Chicago’s Belmont Cragin neighborhood on the city’s northwest side, the property benefits from a dense residential base and an established commercial corridor. The area is characterized by a mix of single-family homes and multifamily buildings, supporting consistent demand for both housing and neighborhood retail. Belmont Cragin is anchored by strong local businesses, service-oriented retail, and steady foot and vehicle traffic along key thoroughfares. The neighborhood also offers access to nearby green space, including Riis Park, contributing to long-term residential stability and tenant retention.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
8,550 SF
Building Class
C
Year Built
1928
Price
$725,000
Price Per SF
$84.80
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.37
Lot Size
0.14 AC
Zoning
B1-1
Frontage
48’ on North Laramie Avenue
Amenities
- Restaurant
Exceptionally walkable
100/100
Fairly drivable
50/100
Good public transit
60/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $44,730 | |
| Land Assessment | $11,562 | Total Assessment | $56,292 |
Property Taxes
Parcel Numbers
Land Assessment
$11,562
Improvements Assessment
$44,730
Total Assessment
$56,292
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3012 N Laramie Ave
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