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    3500 W Lake St Chicago, IL 60624

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    For Sale
    $525,000

    Mixed-use building with tavern and residential unit in Chicago.

    Property size:
    3,050 SF

    Property Features for 3500 W Lake St

    General Information

    Size
    3,050 SF

    Building Details

    Year built
    1911

    Source: Marcus Sullivan Agent Marcus Sullivan

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    East Garfield Park Mixed-Use Building

    This mixed-use building is located at the corner of Lake Street and St. Louis Avenue in East Garfield Park. The solid brick building features a ground-floor tavern with a full liquor license and a finished two-bedroom residential unit above. The property is suitable for operators, investors, or owner-users looking to live and work in the same location. East Garfield Park is located minutes from the Loop and contains greystones and the Garfield Park Conservatory. The area is experiencing investment in infrastructure, local businesses, and community programs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lakeside Bar Bar

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7137058
    Latitude
    41.8850086

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building with tavern and residential unit in Chicago.
    Where is this mixed-use property located?
    The property is located at 3500 W Lake St Chicago, IL.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: - Turnkey ground-floor tavern with full liquor license provides immediate income potential.; - Large, beautifully finished two-bedroom residential unit is perfect for owner-occupant or additional rental income.; - Located on a high-visibility corner in Chicago's rapidly developing East Garfield Park neighborhood.
    (773) 405-4641
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    3500 W Lake St Chicago, IL 60624
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    Chicago, IL 60624
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    Realmo Value Estimation

    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.

    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.

    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
    3500 W Lake St Chicago, IL 60624
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