Commercially Zoned Mixed-Use
For Sale
Contact for pricing
12522 Western Avenue, Blue Island, IL 60406
Mixed-use property with retail space, office, and apartment.
Property Size2,882 SF
Price / SF$147.47
Days on Market422
Property Features for 12522 Western Avenue
General Information
Standard status
Active
Size
2,882 SF
Property subtype
Retail, Mixed Use
Zoning
COMMR
Building Details
Year Built
1988
Stories
2
Units
2
Listing Agency:
Homesmart Realty Group
Listed By:
Gustavo Ruvalcaba · License #IL
Source:
Crexi
Added: Jun 25, 2025
Changed: Aug 14
Last Checked: Aug 19 at 5:59PM
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 Homesmart Realty Group
Investment Insights
Based on property information with market context.
This commercially zoned, mixed-use property offers 2,882 sq. ft. of space suitable for entrepreneurs, investors, or business owners. The first floor features an office and retail space, complemented by three oversized service doors, making it ideal for automotive, warehousing, or a variety of commercial uses. The expansive exterior lot provides ample parking and storage. The second floor features a large, separate apartment, presenting an income-generating opportunity. The property has separate gas and electric meters, allowing tenants to cover their own utilities. This property offers possibilities for expansion, redevelopment, or immediate use.
Key Highlights
- Commercially zoned, mixed‑use property ideal for entrepreneurs, investors, or business owners.
- First floor features a spacious office and retail space with three oversized service doors.
- Expansive exterior lot offers ample parking and storage.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,434
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$668,680
$668.7K
Cap Rate 7%
$477,629
$477.6K
Cap Rate 9%
$371,489
$371.5K
Market Conditions
NOI Build-Up for 2,882 SF
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.
Gross rent
$65.4K $22.68/SF
− Vacancy
−$4.6K −$1.59/SF
EGI
$60.8K $21.09/SF
− OpEx
−$27.4K −$9.49/SF
NOI
$33.4K $11.60/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$668,680
Cap Rate 7%
$477,629
Cap Rate 9%
$371,489
Alternative Uses
Best Use
Mixed Use
$694.8K
$607.9K – $810.6K
NOI $48,634 @ 7.0% cap · market cap 11.44%
Second Best
Retail
$571.5K
$500.0K – $666.7K
NOI $40,003 @ 7.0% cap · market cap 9.41%
Theoretical Best
Office A
$995.0K
$870.7K – $1.16M
NOI $69,652 @ 7.0% cap · market cap 16.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
732
Businesses Nearby
Explore this area
Business Placement
Demographics for 60406, IL
24,011
Population
9,925
Households
2.4
Avg Household Size
36
Median Age
18%
College-Educated
82%
High-School Grad
5.4 sq mi
ZIP Area
4,446
Density / Sq Mi
$59,502
Median Household Income
$34,379
Median Earnings
$1,081
Median Rent
$166,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with retail space, office, and apartment.
Where is this mixed-use property located?
The property is located at 12522 Western Avenue Blue Island, IL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Commercially zoned, mixed‑use property ideal for entrepreneurs, investors, or business owners.; First floor features a spacious office and retail space with **three oversized service doors**.; Expansive exterior lot offers ample parking and storage.
