Pop Craft Studio — Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Chicago, IL 60622

Investment Figures

Cap rate
7.75%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present a single-tenant, net-leased commercial condominium occupied by Pop Craft Studio, located in Chicago’s highly desirable Wicker Park neighborhood. The asset consists of a commercial condo unit within a mixed-use building operating under a condominium and easement structure that allocates shared systems and responsibilities. The tenant is responsible for all operating expenses, while landlord obligations are limited to structural items, largely managed at the building level and allocated on an approximate 18% basis, resulting in minimal ownership exposure. The tenant recently exercised a five-year renewal option, demonstrating strong commitment to the location, and the lease features 3% annual rent increases with two additional five-year options, providing stable income and long-term upside. The property benefits from a dense and affluent population of more than 515,000 residents within three miles, with average household incomes exceeding $182,000 within one mile. Pop Craft Studio is an experiential retail concept offering hands-on workshops and groupbased activities that drive repeat visitation and consistent foot traffic, supported by additional retail revenue streams. This offering presents a NNN-style investment with limited landlord responsibilities in one of Chicago’s Investment Highlights: • The Property is Surrounded by a Dense Population of More than 515,000 Residents within a Three-Mile Radius, with Average Household Incomes Exceeding $182,000 within One Mile • Single-Tenant Net-Leased Investment – Pop Craft Studio Occupies the Space on a Triple-Net Lease with Minimal Landlord Responsibilities • Recent Renewal Signals Tenant Strength – Tenant Exercised a Five-year Option, Reinforcing their Commitment to the Location and Concept • Experiential Retail Concept – Hands-On, Group-Driven Model Promotes Repeat tTaffic and Customer Engagement • Wicker Park is One of Chicago's most Affluent, Densely Populated, and High-Traffi

Market Context

This retail in Chicago, IL is listed for sale. It is offered at an approximate 7.8% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 78 days. Compare it against other retail listings for sale in Chicago, IL — view the full market.

As of Q1 2026, the Chicago retail market showed average asking rents near $22.27/SF/yr, and cap rates around 8.2%. Source: multiple brokerage reports, Q1 2026.

Its 7.8% asking cap rate is below the Chicago retail market average of about 8.2%, reflecting premium pricing relative to comparable assets.

Retail market FAQ

What is the typical cap rate for retail in Chicago?
About 8.2% as of Q1 2026, per multiple brokerage reports.

Contact

Explore this market

Similar Retail Business for Sale in Chicago, IL