- $7,900,000
- Built in 1969
- Three-story structure totaling approximately 42,000 rentable square feet on .3214+/- acres is ideal for an owner/user or prime for residential re-development.
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Chicago Retail Space for Sale
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- $1,500,000
- 8.13% Cap Rate
- Newly built-out and fully occupied restaurant/bar opportunity located in the heart of the heavily traversed Motor Row entertainment district.
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Retail Space For Sale in Chicago
Chicago, Illinois, known for its significant roles in finance, culture, and education, offers a beneficial location for commercial real estate investing. Home to about 2.7 million people and located on the shore of Lake Michigan, Chicago's infrastructure supports a strong economy favorable for retail businesses. The city’s economy is diverse, with a substantial gross domestic product and significant roles in the global financial futures market, offering a promising environment for retail ventures. The presence of top-tier schools like the University of Chicago and Northwestern University attracts a knowledgeable workforce and consumer group.
Retail spaces in Chicago gain from the city's comprehensive transportation network, ensuring easy access for customers and deliveries, crucial for a successful retail business. Situated in a city with a strong economy and high GDP, these retail spaces have the potential to attract a wide range of clients from the large local population and tourists. Shopping centers in Chicago deliver a full consumer experience, merging retail with dining and entertainment, serving the city's mixed community. The city's food scene also offers a chance for culinary entrepreneurs to succeed. The real estate market, including office spaces and hotels, supports a dynamic commercial landscape, providing businesses diverse options for various commercial needs, from corporate sites to tourist lodging.
Learn About Retail Space For Sale in Chicago
How many retail space listings are available for sale in Chicago?
There are currently 357 retail space listings available for sale in Chicago.
What factors should I consider when searching for retail space for sale in Chicago?
In searching for retail space for sale in Chicago, it's critical to examine aspects that directly impact the potential for business growth and operational efficiency.
- The local economic landscape, including the diversity of the economy and the presence of 66 Fortune 1000 companies, signals a robust commercial environment conducive for retail businesses.
- Proximity to key infrastructure, such as O'Hare International Airport and Chicago's extensive public transit system, ensures accessibility for both customers and employees.
- The specific location and visibility of the property in relation to Chicago's arts scene and tourist destinations can influence customer foot traffic and overall business visibility.
How much does it cost to buy a retail space in Chicago?
The cost of buying retail space in Chicago varies, reflecting the diverse market conditions and property specifications. The average price per square foot for retail space is $364, with an average size of 13,385 SF, offering insight into the current market trend.
What is the largest retail space available to buy in Chicago?
The largest retail space for sale in Chicago is 628,963 SF.
Why is Chicago an ideal location for retail space for sale?
With 357 listings available, Chicago’s economy, diverse population, and status as a major transportation and cultural hub make it an ideal location for retail space.
Size Summary For Chicago Retail Space
| Retail Space Size | Square Feet |
|---|---|
| Maximum | 628,963 SF |
| Average | 13,385 SF |
| Minimum | 300 SF |
Cap Rate for Chicago Retail Space
| Retail Space Cap Rate | Cap Rate Percentage |
|---|---|
| Maximum | 22.4% |
| Average | 7.84% |
| Minimum | 3.71% |
Prices for Chicago Retail Space
| Retail Space Price | Price Per SF |
|---|---|
| Maximum | $3,678 Per SF |
| Average | $364 Per SF |
| Minimum | $1 Per SF |
Overall Summary for Chicago Retail Space
| Retail Space Metric | Summary Value |
|---|---|
| Avg Size | 13,385 SF |
| Avg Price Per Square Foot | $364 |
| Avg Cap Rate | 7.84% |
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