Two-Level Mixed-Use
New
For Sale
$499,000
1412 W DIVISION Street, Chicago, IL 60642
Commercial Sale, Chicago, IL
Property Size2,482 SF
Lot Size0.06 Acres
Price / SF$201.05
Days on Market2
Property Features for 1412 W DIVISION Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
On Division St (One block west of I-90/94 and east of Ashland )
Subdivision
CHI - West Town
Standard status
Active
APN
17051240591001
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
14417
Utilities
Cooling system
Central Air
Building Details
Year built
2007
Floors in Building
3
Number of units
3
Flooring type
Wood, Concrete
Building materials
Brick, Stone
Listing Agency:
America Real Estate
(773) 735-4400
Listed By:
Sonia Anaya · License #471003658
(773) 965-4618
Added: Oct 1
Last Checked: Oct 2 at 5:06AM
MLS# 12774855
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use commercial condominium at 1412 W Division Street contains 2,482 square feet on two levels. The 1,241-square-foot main floor offers an open retail area, a half bath and dedicated storage. A full bath, kitchenette, laundry area, three private offices, two closets, reception space and additional storage occupy the lower level. The building dates to 2007 and has 14-foot ceilings, brick and stone construction, wood and concrete flooring, and central air.
The property is in Chicago’s Bucktown corridor, near a highway and next to a gas station. Its COMMR zoning designation is recorded in the property data. The space was previously operated as a hair salon.
The property is in Chicago’s Bucktown corridor, near a highway and next to a gas station. Its COMMR zoning designation is recorded in the property data. The space was previously operated as a hair salon.
Key Highlights
- 2,482 square feet arranged across two levels
- Each floor contains 1,241 SF
- 14‑foot ceilings
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
$41,884
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
8.39%
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%
$837,680
$837.7K
Cap Rate 7%
$598,343
$598.3K
Cap Rate 9%
$465,378
$465.4K
Market Conditions
NOI Build-Up for 2,482 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
$74.5K $30.00/SF
− Vacancy
−$7.4K −$3.00/SF
EGI
$67.0K $27.00/SF
− OpEx
−$25.1K −$10.13/SF
NOI
$41.9K $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%
$837,680
Cap Rate 7%
$598,343
Cap Rate 9%
$465,378
Alternative Uses
Best Use
Mixed Use
$598.3K
$523.6K – $698.1K
NOI $41,884 @ 7.0% cap · market cap 8.39%
Second Best
Retail
$490.5K
$429.2K – $572.3K
NOI $34,338 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$1.17M
$1.02M – $1.37M
NOI $81,918 @ 7.0% cap · market cap 16.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,402
Businesses Nearby
190k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Groceries 34%
Home Improvements & Furnishings 16%
Shops & Services 13%
Jewel-Osco
Groceries
65,395 visits/mo
0.5 miles
Lowe's
Home Improvements & Furnishings
31,134 visits/mo
0.4 miles
Wendy's
Dining
29,664 visits/mo
0.3 miles
BP
Shops & Services
13,250 visits/mo
0.1 miles
Popeyes Louisiana Kitchen
Dining
11,777 visits/mo
0.3 miles
Demographics for 60642, IL
21,687
Population
12,144
Households
1.8
Avg Household Size
33
Median Age
78%
College-Educated
97%
High-School Grad
1.7 sq mi
ZIP Area
12,757
Density / Sq Mi
$141,179
Median Household Income
$90,885
Median Earnings
$2,216
Median Rent
$604,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The two-floor layout separates street-facing commercial space from offices and support areas below.
Where is this mixed-use property located?
The property is located at 1412 W DIVISION Street Chicago, IL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,482 square feet arranged across two levels; Each floor contains 1,241 SF; 14‑foot ceilings
