Rogers Park Multi-Building Investment
For Sale
$2,949,000
6415-33 N Ravenswood Avenue, Chicago, IL 60626
Multi-building property with office, flex, and industrial tenants.
Property Size38,504 SF
Price / SF$76.59
Days on Market1068
Property Features for 6415-33 N Ravenswood Avenue
General Information
Standard status
Active
Size
38,504 SF
Property subtype
Commercial/Industrial
Listing Agency:
Strauss Realty Ltd
(847) 334-2587
Listed By:
Moshe Weinberger · License #475183341
(847) 334-2587
Source:
Exitrealty
Added: Aug 29, 2023
Changed: Jul 10
Last Checked: Jul 30 at 6:01AM
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 Strauss Realty Ltd
Investment Insights
Based on property information with market context.
This multi-building property in Rogers Park offers an investment opportunity. The property consists of three buildings, featuring a one-story, a two-story, and a three-story structure, totaling 38,504 square feet. The buildings accommodate a mix of office, flex, industrial, and creative-use tenants, including U-Haul, Evanstonia Antiques, and the CIADC (Chicago Industrial Arts & Design Center). The property features a total of 7 loading doors and 2 drive-in doors. A parking lot provides space for 30 or more cars. The location is near a corner strip center and provides convenient access to major streets. Loyola University, with an annual enrollment of 17,000 students, is located less than 1 mile away.
Key Highlights
- 38,504 SF multi‑building property with diverse tenant mix (office, flex, industrial, creative‑use).
- Seven loading doors and two drive‑in doors for flexible usage.
- Parking lot for 30+ cars.
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $363.1k | $9.43 |
| − Vacancy | −$18.2k | −$0.47 |
| EGI | $344.9k | $8.96 |
| − OpEx | −$103.5k | −$2.69 |
| NOI | $241.5k | $6.27 |
38,504 SF · lease $9.43/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Office B
$11.80M
$10.33M – $13.77M
NOI $826,142 @ 7.0% cap · market cap 28.01%
Second Best
Mixed Use
$9.28M
$8.12M – $10.83M
NOI $649,755 @ 7.0% cap · market cap 22.03%
Theoretical Best
Office A
$18.15M
$15.89M – $21.18M
NOI $1,270,817 @ 7.0% cap · market cap 43.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,788
Businesses Nearby
Explore this area
Business Placement
Demographics for 60626, IL
50,548
Population
26,812
Households
1.9
Avg Household Size
36
Median Age
53%
College-Educated
91%
High-School Grad
1.7 sq mi
ZIP Area
29,734
Density / Sq Mi
$57,452
Median Household Income
$39,527
Median Earnings
$1,265
Median Rent
$269,000
Median Home Value
Market
Properties on Market for Mixed-use properties in Chicago
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-building property with office, flex, and industrial tenants.
Where is this mixed-use property located?
The property is located at 6415-33 N Ravenswood Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $2,949,000.
What are key features of this property?
This property features: 38,504 SF multi‑building property with diverse tenant mix (office, flex, industrial, creative‑use).; Seven loading doors and two drive‑in doors for flexible usage.; Parking lot for 30+ cars.
