Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5948 W Diversey Ave Chicago, IL 60639

    Sponsored
    For Sale
    $498,800

    COMMERCIAL - Chicago, IL

    Lot size:
    0.07 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 27 at 6:06 am

    Property Features for 5948 W Diversey Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    COMMR
    APN
    13292240330000
    Lot size
    0.07 Acres

    Utilities

    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1924
    Floors in Building
    2
    Number of units
    2
    Building materials
    Brick

    We can help!

    Listing Contact
    Barbara Guratowski
    Barbara Guratowski

    Chicagoland Brokers Inc. (773) 745-1000

    Listing agent Barbara Guratowski (708) 785-7897

    Listing date Feb 26, 2026

    MLS# 12578504

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Two-Story Brick Building in Chicago

    This two-story brick building in Chicago presents an opportunity for ownership. The main floor is suitable for business use, while the second floor features a rental apartment. The apartment includes 2 bedrooms, 2 bathrooms, a living room, an office, a kitchen with table space, and a family room. The building is well-maintained. The updated basement provides additional storage space and houses a newer boiler and water heater. The property features a flat rubber roof and a spacious backyard. A detached 2-car garage is included. The lot size is 0.0717 acres. The property is being sold in AS-IS condition.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lucky Inn Hotel & Motel

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.77551
    Latitude
    41.9314153

    Nearby Similar for Sale

    • $649,000

      Prime Corner Location Office/Retail Space

      Excellent office/retail space in a prime corner location.
      211 W Wacker Dr, Chicago, IL 60606
      View Details
    • $899,000
      0.97 Acres

      Chicago Commercial Property with Warehouses

      Large corner lot with multiple buildings, ideal for automotive use.
      9540 S Vincennes Ave, Chicago, IL 60643
      View Details
    • $2,590,000
      0.38 Acres

      Versatile Warehouse/Office/Retail Space

      16,633 SF warehouse/office/retail space in Logan Square.
      2700 N Campbell Ave, Chicago, IL 60647
      View Details
    • $500,000
      2,800 SF

      Norwood Park Commercial Building For Sale

      Well-maintained commercial building in Norwood Park, Chicago, suitable for various uses.
      6067 N Northwest Hwy, Chicago, IL 60631
      View Details
    • $440,000

      Rehabbed Chicago Retail Property

      Retail property completely rehabbed in 2025, Chicago, IL.
      3947 W Polk St, Chicago, IL 60624
      View Details
    • $750,000

      Auto Repair Shop For Sale

      Turn-key auto repair shop in prime Chicago location.
      7539 W Irving Park Rd, Chicago, IL 60634
      View Details
    • $550,000

      Lincoln Park Commercial Office Building

      Two-story office building in the heart of Lincoln Park.
      1727 N Burling St, Chicago, IL 60614
      View Details
    • $3,000,000
      32,495 SF

      Chicago Office/Warehouse Bow Truss Building

      32,495 SF office/warehouse with bow truss ceilings for sale.
      2444 N Pulaski Rd, Chicago, IL 60639
      View Details
    • $129,900

      Turnkey Restaurant in Prime Location

      Fully operational restaurant in high-traffic area with growth potential.
      5357 N Lincoln Ave, Chicago, IL 60625
      View Details
    • $245,000

      Versatile Mixed-Use Space in Chicago

      Art studio with open layout, natural light, and modern updates.
      2401 W Ohio St, Chicago, IL 60612
      View Details
    • $11,000,000
      31,000 SF

      Former Ford Dealership Redevelopment Opportunity

      High-visibility corner site ideal for redevelopment or automotive businesses.
      6500 N Western Ave, Chicago, IL 60659
      View Details
    • New
      $599,900

      Mixed-Use Building on Archer Avenue

      Mixed-use building with business zoning and potential for 5 units.
      4107 S Archer Ave, Chicago, IL 60632
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Two-story brick building with business and apartment in Chicago.
    Where is this mixed-use property located?
    The property is located at 5948 W Diversey Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $498,800.
    What are key features of this property?
    This property features: - Two-story brick building suitable for business and residential use; - Second-floor apartment featuring 2 bedrooms and 2 bathrooms with multiple living spaces; - Updated basement with newer boiler and water heater
    (708) 785-7897
    Request Owner's contact information
    5948 W Diversey Ave Chicago, IL 60639
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5948 W Diversey Ave
    Chicago, IL 60639
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5948 W Diversey Ave Chicago, IL 60639
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Barbara Guratowski
    Barbara Guratowski
    (708) 785-7897 (773) 745-1000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!