Centrum Old Irving — Sale in Chicago, IL

  • Price: $440K
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Chicago, IL 60641
  • Year built: 2016

Photos

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Description

Property Address: 4185 West Irving Park Road, Chicago, IL Property Size: 12,804 SF Occupancy: 100% Year Built: 2016 Parking Spaces: 29 WALT: 6 Years Year 1 NOI: +/- $440,000 5-Year CAGR: +/- 2.2%

Market Context

This retail in Chicago, IL is listed for sale at $440,000. The building dates to 2016. Compare it against other retail listings for sale in Chicago, IL — view the full market.

As of Q4 2025, the Chicago retail market showed a 5.1% vacancy rate, average asking rents near $19.00/SF/yr, rents up 2.4% year over year, and cap rates around 7.9%. Source: multiple brokerage reports, Q4 2025.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Retail market FAQ

What is the typical cap rate for retail in Chicago?
About 7.9% as of Q4 2025, per multiple brokerage reports.
Is the Chicago retail market tightening or softening?
Vacancy is around 5.1%, with asking rents rising year over year (Q4 2025).

Estimated Price per SF

$56.15/SF – $408.36/SF

Mid: $170.15/SF

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.

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