Mixed-Use Building Near
For Sale
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18 West Busse Avenue, Mount Prospect, IL 60056
Mixed-use property with residential units and commercial space across from a Metra station.
Property Size13,155 SF
Price / SF$146.71
Days on Market89
Property Features for 18 West Busse Avenue
General Information
Standard status
Active
Size
13,155 SF
Total Parking Spaces
7
Property subtype
Retail, Multifamily, Mixed Use
Zoning
B-5C
Occupancy
87%
Investment Type
Stabilized
Net Operating Income
$135,723
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Building Details
Year Built
1926
Buildings
1
Stories
2
Units
14
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Tom Wagner · License #IL 475176488
(847) 638-2659
Source:
Crexi
Added: Aug 2
Changed: Oct 25
Last Checked: Oct 28 at 7:48AM
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 Compass
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Investment Insights
Based on property information with market context.
Built in 1926, this 13,155-square-foot mixed-use building combines residential units with commercial space and is zoned B-5C. Recent improvements have been made to some residential units, while one commercial space remains available for leasing. The property’s occupancy averaged 94% during 2024-2025, and residential leases have included annual rent increases during renewal periods.
The building is located at 18 West Busse Avenue in Mt Prospect, at the intersection of IL-83 and Northwest Highway (US-14). Those routes generate more than 37,000 vehicles per day, while the Mount Prospect Metra Station is directly across the street. The property is also situated within the downtown district, where residential, retail, and dining projects have contributed to ongoing redevelopment activity.
The building is located at 18 West Busse Avenue in Mt Prospect, at the intersection of IL-83 and Northwest Highway (US-14). Those routes generate more than 37,000 vehicles per day, while the Mount Prospect Metra Station is directly across the street. The property is also situated within the downtown district, where residential, retail, and dining projects have contributed to ongoing redevelopment activity.
Key Highlights
- 13,155‑square‑foot mixed‑use building constructed in 1926
- B‑5C zoning with residential units and commercial space
- Occupancy averaged 94% during 2024‑2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$152,609
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,052,180
$3.1M
Cap Rate 7%
$2,180,129
$2.2M
Cap Rate 9%
$1,695,656
$1.7M
Market Conditions
NOI Build-Up for 13,155 SF
Gross rent
$298.4K $22.68/SF
− Vacancy
−$20.9K −$1.59/SF
EGI
$277.5K $21.09/SF
− OpEx
−$124.9K −$9.49/SF
NOI
$152.6K $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 Rate 5%
$3,052,180
Cap Rate 7%
$2,180,129
Cap Rate 9%
$1,695,656
Alternative Uses
Best Use
Mixed Use
$3.17M
$2.77M – $3.70M
NOI $221,991 @ 7.0% cap · market cap 11.50%
Second Best
Retail
$2.61M
$2.28M – $3.04M
NOI $182,594 @ 7.0% cap · market cap 9.46%
Theoretical Best
Office A
$4.54M
$3.97M – $5.30M
NOI $317,928 @ 7.0% cap · market cap 16.47%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
997
Businesses Nearby
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Business Placement
Demographics for 60056, IL
57,177
Population
23,202
Households
2.5
Avg Household Size
41
Median Age
49%
College-Educated
92%
High-School Grad
10.9 sq mi
ZIP Area
5,246
Density / Sq Mi
$104,168
Median Household Income
$54,158
Median Earnings
$1,456
Median Rent
$376,300
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 - Mixed-use property with residential units and commercial space across from a Metra station.
Where is this mixed-use property located?
The property is located at 18 West Busse Avenue Mount Prospect, IL.
What is the asking price?
The asking price for this property is $1,930,000.
What are key features of this property?
This property features: 13,155‑square‑foot mixed‑use building constructed in 1926; B‑5C zoning with residential units and commercial space; Occupancy averaged 94% during 2024‑2025
