Mixed-Use Building with Restaurant
For Sale
$1,570,000
1631 N Halsted Street, Chicago, IL 60614
Ground-level commercial space is paired with residential units and a four-car garage.
Property Size5,658 SF
Price / SF$277.48
Days on Market13
Property Features for 1631 N Halsted Street
General Information
Standard status
Active
Size
5,658 SF
Total Parking Spaces
4
Property subtype
Two to Four Units
Zoning
PMD
Site & Location
Neighborhood
Lincoln Park
Mixed-Use Components
retail, residential
Taxes and HOA fees
Annual Taxes
$26,261
Amenities
Finished,Full
4
3
2
Lake Michigan
30X140
No
Building Details
Year Built
1873
Tenancy
Multi
Listing Agency:
Millennium Properties RE, Inc.
(708) 787-2808
Listed By:
Tania Leanos
Source:
Kawashgroup
Added: Oct 20
Changed: Oct 31
Last Checked: Oct 31 at 3:36AM
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 Millennium Properties RE, Inc.
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Investment Insights
Based on property information with market context.
This 5,658-square-foot, three-unit mixed-use property includes a former restaurant space on the ground floor and residential units. A four-car garage is also part of the property, which was built in 1873. PMD zoning is listed for the site.
The property is one block north of CTA Clybourn Station and is served by the Halsted bus route. Nearby destinations include Steppenwolf Theatre, Whole Foods, Apple, Crate & Barrel, and DePaul University’s main campus, which is less than a mile away. The North and Clybourn intersection and surrounding retail and dining destinations are also nearby.
The property is one block north of CTA Clybourn Station and is served by the Halsted bus route. Nearby destinations include Steppenwolf Theatre, Whole Foods, Apple, Crate & Barrel, and DePaul University’s main campus, which is less than a mile away. The North and Clybourn intersection and surrounding retail and dining destinations are also nearby.
Key Highlights
- 5,658 SF three‑unit mixed‑use property
- Ground‑floor space formerly used as a restaurant
- Four‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,479
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,909,580
$1.9M
Cap Rate 7%
$1,363,986
$1.4M
Cap Rate 9%
$1,060,878
$1.1M
Market Conditions
NOI Build-Up for 5,658 SF
Gross rent
$169.7K $30.00/SF
− Vacancy
−$17.0K −$3.00/SF
EGI
$152.8K $27.00/SF
− OpEx
−$57.3K −$10.13/SF
NOI
$95.5K $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 Rate 5%
$1,909,580
Cap Rate 7%
$1,363,986
Cap Rate 9%
$1,060,878
Alternative Uses
Best Use
Mixed Use
$1.36M
$1.19M – $1.59M
NOI $95,479 @ 7.0% cap · market cap 6.08%
Second Best
Multifamily LT 5
$1.35M
$1.18M – $1.57M
NOI $94,318 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$2.67M
$2.33M – $3.11M
NOI $186,741 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,277
Businesses Nearby
Explore this area
Business Placement
Demographics for 60614, IL
73,173
Population
38,089
Households
1.9
Avg Household Size
31
Median Age
86%
College-Educated
98%
High-School Grad
3.2 sq mi
ZIP Area
22,867
Density / Sq Mi
$139,561
Median Household Income
$86,386
Median Earnings
$2,019
Median Rent
$730,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-level commercial space is paired with residential units and a four-car garage.
Where is this mixed-use property located?
The property is located at 1631 N Halsted Street Chicago, IL.
What is the asking price?
The asking price for this property is $1,570,000.
What are key features of this property?
This property features: 5,658 SF three‑unit mixed‑use property; Ground‑floor space formerly used as a restaurant; Four‑car garage
