Stabilized Mixed-Use Investment
7815 South Kedzie Avenue, Chicago, IL 60652
Fully leased mixed-use property with commercial and residential units.
Type:MU
Property size:
6,600 SFLot size:
0.27 AcresPrice / SF:
$238/SF- Added:
- Jan 14, 2025
- Days on Market:
- 494
- Last Refresh:
- Apr 3 at 4:55 am
Property Features for 7815 South Kedzie Avenue
General Information
- Standard status
- Active
- Size
- 6,600 SF
- Lot size
- 0.27 Acres
- Property subtype
- MU
Building Details
- Year Built
- 1962
Listing agent Manny Regalado (312) 730-2029
Listing office Keller Williams ONEChicago (312) 730-2029
Listing date Jan 14, 2025
Source Realnex
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 Keller Williams ONEChicago
HighLights
- 100% Leased, stabilized mixed‑use asset providing immediate and diversified cash flow.
- Oversized 11,841 SF land parcel offers operational flexibility, secured parking, and long‑term residual land value.
- Long‑term daycare tenancy with renewal options provides predictable income.
- Commercial lease includes expense participation, hedging against inflationary cost increases.
- Secured on‑site parking (8 standard spaces and 1 ADA‑compliant space).
- Located on the Kedzie Avenue commercial corridor with excellent access to public transportation.
Overview
The property at 7815 S Kedzie Ave, Chicago, IL 60652 is a fully leased mixed-use investment asset. The building is 6,600 SF and situated on an 11,841 SF land parcel. Constructed in 1965, the property was repositioned from a former hotel into its current mixed-use configuration. It features approximately 3,300 square feet of ground-floor commercial space and four residential units above. The ground-floor commercial space is leased to a daycare operator under a Modified Gross lease with renewal options. The lease includes expense participation provisions, whereby the tenant reimburses a percentage of annual increases in real estate taxes, insurance, and water. The second floor consists of four fully leased residential units. The property benefits from a fully secured and gated site, encompassing the entire 11,841 SF parcel, providing controlled access. There are 8 standard surface parking spaces and 1 ADA-compliant space. Positioned along the Kedzie Avenue commercial corridor, the property benefits from neighborhood density and accessibility. Immediate access to CTA bus routes along Kedzie and 79th Street enhances commuter convenience, while proximity to the Kedzie Orange Line station and nearby Metra SouthWest Service stations provides regional connectivity to downtown Chicago. The surrounding trade area is supported by established residential neighborhoods, active retail corridors, and continued reinvestment activity.
Financial Insights
Value Estimation Calculated for Mixed Use
Conservative
$1.24M
NOI $111,375 @ 9.00% cap · cautious / downside scenario
Moderate
$1.59M
NOI $111,375 @ 7.00% cap · market / base-case scenario
Aggressive
$2.23M
NOI $111,375 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Mixed Use
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $198.0k | $30.00 |
| − Vacancy | −$19.8k | −$3.00 |
| EGI | $178.2k | $27.00 |
| − OpEx | −$66.8k | −$10.13 |
| NOI | $111.4k | $16.88 |
6,600 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Use Scenarios
Best Use
Mixed Use
$1.59M
$1.39M – $1.86M
NOI $111,375 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$1.45M
$1.26M – $1.69M
NOI $101,172 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$3.11M
$2.72M – $3.63M
NOI $217,832 @ 7.0% cap · market cap 13.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Perfect Beginnings Child
Daycare Center
Prospect
Marketing & Advertising
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.702102
- Latitude
- 41.7513718
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Fully leased mixed-use property with commercial and residential units.
Where is this mixed-use property located?
The property is located at 7815 South Kedzie Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: 100% Leased, stabilized mixed‑use asset providing immediate and diversified cash flow.; Oversized 11,841 SF land parcel offers operational flexibility, secured parking, and long‑term residual land value.; Long‑term daycare tenancy with renewal options provides predictable income.
