For saleReduced $80,000 from $975,000

$895,000

4,000 SF building0.12 acre lotBuilt 1920

3217 MontroseChicago, IL 60618

Retail property (from the listing description) · Storefront · MLS 11736265 · Listed 539 days ago (May 15, 2025)

Report a problem

Active: Listed and available according to the MyStateMLS feed.

About this property

±4,000 SF ground-floor retail condominium at 3217-3229 W Montrose Avenue, located in Chicago's Albany Park neighborhood. This fully leased retail condo comprises six individual storefronts within a mixed-use building and is occupied by a diverse mix of local service, food, and professional tenants. Several tenants operate under month-to-month or short-term leases, providing a flexible structure for investors to immediately capitalize on rising market rents or strategically re-tenant as leases roll. Current rents average approximately $20/SF, while nearby market rates are approaching $28/SF, creating a clear value-add opportunity. Positioned along Montrose Avenue-a high-traffic retail corridor with over 21,000 vehicles per day-the property benefits from strong visibility, a dense surrounding residential population, and proximity to CTA bus routes and the Brown Line. Retail vacancy in the surrounding submarket is just 3.1%, highlighting the sustained demand for small-format neighborhood retail in this area. Highlights: ±4,000 SF ground-floor retail condo in mixed-use building Six fully leased storefronts with service, food, and professional tenants Flexible leases: MTM and short-term structure allows near-term repositioning Current rents ~$20/SF with market rents trending toward ~$28/SF MG Montrose Ave frontage with 21,000+ vehicles/day and strong foot traffic Albany Park location with excellent CTA and Brown Line access Low retail vacancy in the submarket: 3.1% Ideal for investors seeking stabilized income with clear upside

Description provided by the listing brokerage.

Key facts

Asking price
$895,000
Original list price
$975,000
Status
For sale
Property type
RetailFrom the listing description
Building area
4,000 SFSource field LivingArea
Land area
0.12 acresSource field LotSizeAcres
Year built
1920
MLS number
11736265

Facts are reported by the listing brokerage. Items not listed were not provided; that does not mean the property lacks them or that they are zero.

Price

Asking price
$895,000
Price per SF of building
$224/SFAsking price ÷ 4,000 SF reported building area
Annual taxes
$17,848Tax year 2025

Building and site

Stories
1
Reported zoning
CommercialAs reported by the listing. Confirm permitted uses for your plans with the local zoning authority.
County
Cook County

Investment figures reported in the description

Occupancy
100% (actual or pro forma not stated)"…lbany park neighborhood. this fully leased retail condo comprises six in…"

These figures are as written by the listing agent, without a stated period or supporting statements. Commercial Only does not calculate or verify them. Ask for rent rolls, operating statements and leases before relying on any figure.

Reported features

  • Natural gas (from a listing field)
  • Near public transit (from a listing field)
  • Public water (from a listing field)

A mention is not a specification. Confirm power, clear height, doors, parking and code compliance for your use with the listing representative and your own advisers.

Listing details

Flooring

  • Tile
  • Laminate
  • Carpet

Heating

  • Forced Air
  • Gas

Construction

  • Brick

Roof

  • Rubber

Water

  • Public (Water Source)

Sewer

  • Other

Location

The pin is the listing's reported coordinates and may be approximate. It is not a parcel boundary or survey and says nothing about access rights, easements or flood zones. See more listings in Chicago or retail property in Chicago.

Why this listing is on Commercial Only

  • Property type as the listing describes it. (description: "value-add retail opportunity | chicago sub-1m entry")
  • MLS property class detail. (PropertyTypeDetail: comm-building)

How listings qualify. Something wrong? Report it.

Price and status history

  • Original list price reported by the brokerage: $975,000

Changes observed by Commercial Only in MyStateMLS data since Nov 3, 2026. This is not a public-record sales or lease history.

Guides

Listing courtesy of eXp Commercial. Listing agent: Randolph Taylor. Listings provided by MyStateMLS.

Listing last modified at the source Jun 30, 2026, 5:03 PM UTC. Commercial Only last confirmed MyStateMLS data Nov 5, 2026, 4:31 AM UTC. Information is deemed reliable but not guaranteed; verify all details with the listing representative.