Back

1 of 16

2 of 16

3 of 16

4 of 16

5 of 16

6 of 16

7 of 16

8 of 16

9 of 16

10 of 16

11 of 16

12 of 16

13 of 16

14 of 16

15 of 16

16 of 16

1964 W Lawrence Ave
Chicago, IL 60640 Ravenswood

$849,000 USD

Storefront Retail Residential For Sale • 5,000 SF

Property Details

Property Type Storefront Retail Residential
Total Building Size 5,000 SF
Lot Size 0.09 AC
Building Class C
Year Built 1908
Cap Rate 7.92 %
Tenancy Single
Zoning B2-1, Chicago

74 Transit Score

94 Walk Score

Description

Surrounded by new development including Devry's new $20M campus and tons of new, luxury residential units within blocks. Located on Lawrence, just east of Damen. Fully leased Commercial space (3200 sf) with brand new five year lease. Existing kitchen has black iron, 16 ft. hood, two walk in coolers and large, old school pizza oven. Lots of space for storage and entire back room can be turned into a cooler for wholesale work or large prep. Large Front windows plus dining area includes two ADA bathrooms with double stalls. Recently Renovated Second level contains large 3BD/1BA apartment with long term tenants and rear outdoor patio. Building runs lot line to lot line. 0.2 Miles to the Damen Brown Line CTA Station, 0.2 Miles to the Ravenswood Metra Station, multiple bus stops and Divvy stations plus close access to Lake Shore Drive. Area tenants include: Goundswell Coffee Roasters, CVS, Wendy’s, Rock N Roll Vintage Chicago Guitar Shop, Band of Bohemia, Chase Bank, Mariano’s, Sears Auto Center and much more.
Zoning – B1-2
2020 Taxes: $14,426
Alderman – Matthew Martin / 47th Ward

                
                    Highlights
                
                                Surrounded by new development including Devry's new $20M campus and tons of new, luxury residential units within blocks
                            
                                Brand New, fully built out Bakery, located on Lawrence, just east of Damen
                            
                                Recently Renovated Second level contains large 3BD/1BA apartment with rear outdoor patio

Financial Summary (Actual)

Net Operating Income: $67,219 USD (2024)

Cap Rate:	7.92 %
Total Expenses:	$19,506 USD

Public Transportation

Commuter Rail	Drive	Walk	Distance
Ravenswood Station (Union Pacific North Line - Northeast Illinois Regional Commuter Railroad (Metra))	1 min	9 min	0.4 mi
	4 min	-	1.8 mi
Transit/Subway	Drive	Walk	Distance
Damen Station (Brown Line) (Brown Line - Chicago Transit Authority "L" Trains (The "L"))	0 min	4 min	0.2 mi
Ravenswood Station (Union Pacific North Line - Northeast Illinois Regional Commuter Railroad (Metra))	2 min	5 min	0.3 mi
Montrose Station (Brown Line) (Brown Line - Chicago Transit Authority "L" Trains (The "L"))	2 min	13 min	0.7 mi
Western Station (Brown Line) (Brown Line - Chicago Transit Authority "L" Trains (The "L"))	2 min	13 min	0.7 mi
Rockwell Station (Brown Line - Chicago Transit Authority "L" Trains (The "L"))	4 min	19 min	1.0 mi
Airport	Drive	Walk	Distance
Chicago O'Hare International	21 min	-	12.3 mi
Chicago Midway International	28 min	-	16.9 mi

Ian Feinerman 312-337-0200 @properties Commercial

1964 W Lawrence Ave Chicago, IL 60640 Ravenswood