Three-Story Mixed-Use
For Sale
Contact for pricing
409 Lake St, Maywood, IL 60153
Includes retail space, two residential units, a secondary commercial building, and paved on-site parking.
Property Size2,000 SF
Lot Size0.21 Acres
Price / SF$310
Days on Market601
Property Features for 409 Lake St
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.21 Acres
Property subtype
RETAIL
Zoning
C-2
Site & Location
Traffic Count
9,400 vehicles/day
Road Access
Yes
Building Details
Buildings
2
Stories
3
Construction
masonry
Tenancy
Multi
Listing Agency:
@Properties | Chicago (North)
(773) 772-0200
Listed By:
Kevin J. Rocio · License #IL475.128895
(312) 972-4381
Source:
Moodyscre
Added: Dec 17, 2024
Changed: Jul 31
Last Checked: Jul 31 at 3:43PM
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 @Properties | Chicago (North)
Investment Insights
Based on property information with market context.
This three-story commercial mixed-use building includes a first-floor retail showroom currently built out as a tire repair shop, along with two residential units. The second-floor apartment is a two-bedroom, one-bath unit, while the third-floor apartment has one bedroom and one bath. The property also includes a paved side and rear drive loading area, parking for about 20-plus cars, and a small approximately 600-square-foot brick commercial building.
The primary building is approximately 2,000 square feet on a 9,012.90-square-foot parcel. Zoning is C-2 Pedestrian-Oriented Commercial. Located at 401–409 Lake Street in Maywood, the property is within walking distance of the Maywood Metra stop, close to area expressways, and just east of the intersection of 5th and Lake Street. The location records 9,400 vehicles per day and sits near Walgreens, Taqueria El Duranguito, Maywood Express, Legends Grill and Music Venue, and Panaderia Puebla.
The primary building is approximately 2,000 square feet on a 9,012.90-square-foot parcel. Zoning is C-2 Pedestrian-Oriented Commercial. Located at 401–409 Lake Street in Maywood, the property is within walking distance of the Maywood Metra stop, close to area expressways, and just east of the intersection of 5th and Lake Street. The location records 9,400 vehicles per day and sits near Walgreens, Taqueria El Duranguito, Maywood Express, Legends Grill and Music Venue, and Panaderia Puebla.
Key Highlights
- Three‑story commercial mixed‑use building with first‑floor retail showroom and two residential units
- Primary building is Approx 2,000 SQ FT on 9,012.90 SQ FT of land
- Small 600 SQ FT (Approx) brick commercial building included
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
$33,750
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
5.44%
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%
$675,000
$675.0K
Cap Rate 7%
$482,143
$482.1K
Cap Rate 9%
$375,000
$375.0K
Market Conditions
NOI Build-Up for 2,000 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
$60.0K $30.00/SF
− Vacancy
−$6.0K −$3.00/SF
EGI
$54.0K $27.00/SF
− OpEx
−$20.3K −$10.13/SF
NOI
$33.8K $16.88/SF
Area
Cook County, 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%
$675,000
Cap Rate 7%
$482,143
Cap Rate 9%
$375,000
Alternative Uses
Best Use
Mixed Use
$482.1K
$421.9K – $562.5K
NOI $33,750 @ 7.0% cap · market cap 5.44%
Second Best
Retail
$396.6K
$347.0K – $462.7K
NOI $27,760 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$690.5K
$604.2K – $805.6K
NOI $48,336 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9,400 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
Explore this area
Business Placement
Demographics for 60153, IL
23,512
Population
8,385
Households
2.8
Avg Household Size
36
Median Age
17%
College-Educated
79%
High-School Grad
2.8 sq mi
ZIP Area
8,397
Density / Sq Mi
$66,498
Median Household Income
$40,734
Median Earnings
$1,203
Median Rent
$212,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes retail space, two residential units, a secondary commercial building, and paved on-site parking.
Where is this mixed-use property located?
The property is located at 409 Lake St Maywood, IL.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Three‑story commercial mixed‑use building with first‑floor retail showroom and two residential units; Primary building is Approx 2,000 SQ FT on 9,012.90 SQ FT of land; Small 600 SQ FT (Approx) brick commercial building included
