Building Details

Building Size 12,000 SF

Year Built 1891

Stories 2

Listing Agency: S Hansen Realty Inc.

Listed By: Oliver Stone · License #471018873 Show Phone

Source: Evrealestate

Added: Mar 10 Changed: Sep 26 Last Checked: Oct 5 at 5:17PM

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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 S Hansen Realty Inc.

Investment Insights

Based on property information with market context.

This mixed-use property offers potential for an owner-occupant or investor. The property spans 13,616 square feet and features a versatile layout with income-generating spaces and room for future expansion. There are three built-out commercial units currently leased to established tenants, including Frame Factor and Simes Studio, along with one vacant unit. The existing rental income can offset expenses for an owner-occupant utilizing the available space. Ample on-site parking is available. The property's zoning allows for a range of uses, including retail, office, or residential.

Key Highlights

• Mixed‑use property in a sought‑after location offering versatile layout and income generation.
• Three fully built‑out commercial units currently leased to established tenants (Frame Factor and Simes Studio) providing immediate rental income.
• One vacant unit ideal for owner‑user occupancy, allowing for immediate expense reduction.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$229,770

Cap Rate

8.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,595,400 $4.6M

Cap Rate 7%

$3,282,429 $3.3M

Cap Rate 9%

$2,553,000 $2.6M

Market Conditions

NOI Build-Up for 13,616 SF

Gross rent

$408.5K $30.00/SF

− Vacancy

−$40.8K −$3.00/SF

EGI

$367.6K $27.00/SF

− OpEx

−$137.9K −$10.13/SF

NOI

$229.8K $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%

$4,595,400

Cap Rate 7%

$3,282,429

Cap Rate 9%

$2,553,000

Alternative Uses

Best Use

Mixed Use

$3.28M

$2.87M – $3.83M (±1% cap)

NOI $229,770 @ 7.0% cap · market cap 8.06%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$6.42M

$5.62M – $7.49M (±1% cap)

NOI $449,393 @ 7.0% cap · market cap 15.77%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Frame Factory (Bike/Boat/Book/etc) Store Simes Studios Interior Design PLAY! at Barks N' ... Pet Grooming Service

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Auto Parts Store Auto Repair Shop HVAC Service Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,834

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

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Versatile mixed-use property with income potential in a sought-after location.

Where is this mixed-use property located?

The property is located at 1809 W Webster Avenue Chicago, IL.

What is the asking price?

The asking price for this property is $2,850,000.

What are key features of this property?

This property features: Mixed‑use property in a sought‑after location offering versatile layout and income generation.; Three fully built‑out commercial units currently leased to established tenants (Frame Factor and Simes Studio) providing immediate rental income.; One vacant unit ideal for owner‑user occupancy, allowing for immediate expense reduction.