Uptown Portofolio Sale 1016-1032 W Argyle | 1016 W Argyle
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Uptown Portofolio Sale 1016-1032 W Argyle 1016 W Argyle
3,286 SF 100% Leased Retail Building Chicago, IL 60640 $4,399,000 ($1,339/SF)
Executive Summary
Rare Opportunity: First-Time Offering on Chicago’s Historic Argyle Block
A portfolio of two prime commercial buildings at 1016-1032 W. Argyle St., Chicago, IL 60640 is available for sale. Located in the vibrant Uptown district within the West Argyle Street Historic District, this property blends historic charm with modern development. Known for its iconic early 20th-century architecture and a thriving Southeast Asian cultural scene, including numerous popular restaurants and businesses, this area is a top investment destination.
Corner Building (Kenmore & Argyle)
This two-story, mixed-use building offers significant potential for customization and expansion:
Ground Floor: Two established restaurant spaces with excellent visibility and high foot traffic in a bustling commercial corridor.
Second Floor: Office spaces currently occupied by the Tew Chau Association on a flexible month-to-month lease, offering opportunities for future reconfiguration or redevelopment to suit new tenants or owner-occupants.
Parking: The 18-car parking lot at the rear of the property is a valuable asset in this busy urban setting, increasing the building’s appeal for both tenants and visitors.
Second Building
This adjacent building includes:
A former Vietnamese restaurant offering an ideal space for a new dining concept or other commercial use.
The Chinese Mutual Aid Association office, a stable tenant that strengthens the building’s ties to the local community.
Recent and Upcoming Infrastructure Enhancements
Streetscape Improvements: A recent $6 million streetscape project has significantly upgraded the surrounding area, improving walkability and community engagement.
Lawrence to Bryn Mawr Modernization (LBMM) Project: This major infrastructure upgrade, set for completion by 2025, will further enhance the property’s access to transit, making it even more appealing for businesses and customers.
The property’s proximity to the lakefront and quick access to downtown via Lake Shore Drive (US 41) further enhances its prime location.
Development Potential
This site is positioned for developers to take advantage of Chicago’s Equitable Transit-Oriented Development (ETOD) Policy Plan. It allows for reduced parking requirements, increased building height and density, and design features that promote walkability and affordability, particularly for properties close to transit hubs. This makes it an attractive option for innovative development projects.
Please note that, while the property holds immense potential, certain use restrictions apply due to its location in the historic district.
A portfolio of two prime commercial buildings at 1016-1032 W. Argyle St., Chicago, IL 60640 is available for sale. Located in the vibrant Uptown district within the West Argyle Street Historic District, this property blends historic charm with modern development. Known for its iconic early 20th-century architecture and a thriving Southeast Asian cultural scene, including numerous popular restaurants and businesses, this area is a top investment destination.
Corner Building (Kenmore & Argyle)
This two-story, mixed-use building offers significant potential for customization and expansion:
Ground Floor: Two established restaurant spaces with excellent visibility and high foot traffic in a bustling commercial corridor.
Second Floor: Office spaces currently occupied by the Tew Chau Association on a flexible month-to-month lease, offering opportunities for future reconfiguration or redevelopment to suit new tenants or owner-occupants.
Parking: The 18-car parking lot at the rear of the property is a valuable asset in this busy urban setting, increasing the building’s appeal for both tenants and visitors.
Second Building
This adjacent building includes:
A former Vietnamese restaurant offering an ideal space for a new dining concept or other commercial use.
The Chinese Mutual Aid Association office, a stable tenant that strengthens the building’s ties to the local community.
Recent and Upcoming Infrastructure Enhancements
Streetscape Improvements: A recent $6 million streetscape project has significantly upgraded the surrounding area, improving walkability and community engagement.
Lawrence to Bryn Mawr Modernization (LBMM) Project: This major infrastructure upgrade, set for completion by 2025, will further enhance the property’s access to transit, making it even more appealing for businesses and customers.
The property’s proximity to the lakefront and quick access to downtown via Lake Shore Drive (US 41) further enhances its prime location.
Development Potential
This site is positioned for developers to take advantage of Chicago’s Equitable Transit-Oriented Development (ETOD) Policy Plan. It allows for reduced parking requirements, increased building height and density, and design features that promote walkability and affordability, particularly for properties close to transit hubs. This makes it an attractive option for innovative development projects.
Please note that, while the property holds immense potential, certain use restrictions apply due to its location in the historic district.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Bulk/Portfolio Sale
Property Type
Retail
Property Subtype
Building Size
3,286 SF
Building Class
C
Year Built
1910
Price
$4,399,000
Price Per SF
$1,339
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.26
Lot Size
0.29 AC
Zoning
B2-4, Chicago - West Argyle Street Historic District and within a TIF (Tax Increment Financing).
Parking
18 Spaces (5.48 Spaces per 1,000 SF Leased)
Frontage
Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (79)
Bike Score ®
Biker's Paradise (93)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 14-08-406-021-0000 | Improvements Assessment | $130,495 |
| Land Assessment | $118,319 | Total Assessment | $248,814 |
PROPERTY TAXES
Parcel Number
14-08-406-021-0000
Land Assessment
$118,319
Improvements Assessment
$130,495
Total Assessment
$248,814
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Uptown Portofolio Sale 1016-1032 W Argyle | 1016 W Argyle
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