Three-Level Mixed-Use
For Sale
$420,000
111 W Railroad Ave, Bartlett, IL 60103
Office, tenant, and unfinished upper-level areas support multiple commercial and residential configurations.
Property Size2,300 SF
Price / SF$182.61
Days on Market52
Property Features for 111 W Railroad Ave
General Information
Standard status
Active
Size
2,300 SF
Total Parking Spaces
5
Additional Details
Public Transit
Yes
Office Units
2
Amenities
wheelchair lift
wired sound system
Building Details
Year Built
1875
Buildings
2
Stories
3
Building Size
2,300 SF
Listing Agency:
REMAX Legends
Listed By:
Kelly Dyson · License #475114736
(630) 615-2817
Source:
Bktchicago
Added: Sep 8
Changed: Oct 25
Last Checked: Oct 7 at 2:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REMAX Legends
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Investment Insights
Based on property information with market context.
This mixed-use property at 111 W Railroad Ave includes approximately 2,300 total square feet across three levels. The main floor is arranged as a professional office with four treatment rooms, reception space, a private workstation, large windows, 9' ceilings, recessed lighting, wood-look flooring, oak trim, built-in shelving, sound wiring, storage closets, and a wheelchair lift. The lower level has its own front and rear entrances and is occupied by a long-term tenant. An unfinished upper floor is framed and primed for future build-out as a studio apartment or live-work area.
A detached 1.5-car garage/workshop includes upgraded electrical service, a dedicated furnace, and storage capacity. The property also provides five private parking spaces behind the garage, along with reserved customer spaces at the front. It is located across from the Metra station and near More Brewing Company, local businesses, and Bartlett’s revitalized downtown district. Mixed-use zoning supports the property’s combination of office, tenant, and potential residential space.
A detached 1.5-car garage/workshop includes upgraded electrical service, a dedicated furnace, and storage capacity. The property also provides five private parking spaces behind the garage, along with reserved customer spaces at the front. It is located across from the Metra station and near More Brewing Company, local businesses, and Bartlett’s revitalized downtown district. Mixed-use zoning supports the property’s combination of office, tenant, and potential residential space.
Key Highlights
- Approximately 2,300 total square feet across three levels
- Main level includes four treatment rooms, reception area, private workstation, and 9' ceilings
- Lower level has separate front and rear entrances and a long‑term tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,713
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$634,260
$634.3K
Cap Rate 7%
$453,043
$453.0K
Cap Rate 9%
$352,367
$352.4K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$56.3K $24.48/SF
− Vacancy
−$14.0K −$6.10/SF
EGI
$42.3K $18.38/SF
− OpEx
−$10.6K −$4.60/SF
NOI
$31.7K $13.79/SF
Area
Cook County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$634,260
Cap Rate 7%
$453,043
Cap Rate 9%
$352,367
Alternative Uses
Best Use
Mixed Use
$554.5K
$485.2K – $646.9K
NOI $38,813 @ 7.0% cap · market cap 9.24%
Second Best
Office B
$453.0K
$396.4K – $528.6K
NOI $31,713 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$794.1K
$694.8K – $926.4K
NOI $55,586 @ 7.0% cap · market cap 13.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
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Business Placement
Demographics for 60103, IL
41,740
Population
14,995
Households
2.8
Avg Household Size
41
Median Age
48%
College-Educated
95%
High-School Grad
18.4 sq mi
ZIP Area
2,268
Density / Sq Mi
$131,552
Median Household Income
$64,113
Median Earnings
$1,851
Median Rent
$353,300
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Office, tenant, and unfinished upper-level areas support multiple commercial and residential configurations.
Where is this mixed-use property located?
The property is located at 111 W Railroad Ave Bartlett, IL.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Approximately 2,300 total square feet across three levels; Main level includes four treatment rooms, reception area, private workstation, and 9' ceilings; Lower level has separate front and rear entrances and a long‑term tenant
