Corner Mixed-Use
For Sale
$1,825,000
2100 N Hoyne Ave, Chicago, IL 60647
Mixed-use property with four residential units and two commercial units in a prominent corner location.
Property Size5,900 SF
Days on Market54
Property Features for 2100 N Hoyne Ave
General Information
Standard status
Active
Size
5,900 SF
Property subtype
Multifamily
Building Details
Building Size
5,900 SF
Year Built
1903
Listed By:
Lee Kiser · License #IL #471014529
(773) 919-1297
Source:
Kisergroup
Added: Jul 25
Changed: Sep 9
Last Checked: Sep 15 at 9:21AM
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 Lee Kiser
Investment Insights
Based on property information with market context.
This prominent corner mixed-use building includes four residential units and two commercial units. The architecturally distinctive exterior features historic masonry construction and vintage character.
Situated in the heart of Bucktown, the property benefits from immediate access to local dining, retail, entertainment, and transit amenities. The diversified residential and commercial tenancy creates income variety within a single asset.
Designed as a mixed-use configuration, the building supports both residential living and street-facing commercial space within the same corner structure.
Situated in the heart of Bucktown, the property benefits from immediate access to local dining, retail, entertainment, and transit amenities. The diversified residential and commercial tenancy creates income variety within a single asset.
Designed as a mixed-use configuration, the building supports both residential living and street-facing commercial space within the same corner structure.
Key Highlights
- Mixed‑use building with 4 residential units and 2 commercial units
- Prominent corner property in Bucktown
- Year built: 1903
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
$99,563
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
5.46%
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%
$1,991,260
$2.0M
Cap Rate 7%
$1,422,329
$1.4M
Cap Rate 9%
$1,106,256
$1.1M
Market Conditions
NOI Build-Up for 5,900 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
$177.0K $30.00/SF
− Vacancy
−$17.7K −$3.00/SF
EGI
$159.3K $27.00/SF
− OpEx
−$59.7K −$10.13/SF
NOI
$99.6K $16.88/SF
Area
Chicago, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,991,260
Cap Rate 7%
$1,422,329
Cap Rate 9%
$1,106,256
Alternative Uses
Best Use
Mixed Use
$1.42M
$1.24M – $1.66M
NOI $99,563 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,442 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$2.78M
$2.43M – $3.25M
NOI $194,728 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,702
Businesses Nearby
Explore this area
Business Placement
Demographics for 60647, IL
85,631
Population
41,975
Households
2
Avg Household Size
33
Median Age
61%
College-Educated
92%
High-School Grad
4.0 sq mi
ZIP Area
21,408
Density / Sq Mi
$102,851
Median Household Income
$65,776
Median Earnings
$1,714
Median Rent
$557,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with four residential units and two commercial units in a prominent corner location.
Where is this mixed-use property located?
The property is located at 2100 N Hoyne Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,825,000.
What are key features of this property?
This property features: Mixed‑use building with 4 residential units and 2 commercial units; Prominent corner property in Bucktown; Year built: 1903
