Mixed-Use Property in Prime
1809 W Webster Avenue Chicago, IL 60614
1809 W Webster Avenue, Chicago, IL, 60614
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For Sale
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Versatile mixed-use property with income potential in a sought-after location.
Property Size12,000 SF
Price / SF$237.50
Days on Market714
Property Features for 1809 W Webster Avenue
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1891
Listing agency
Hansen Realty Inc.
(312) 547-9704
Listed by
Oliver Stone · License #IL 471018873
Source
Crexi
Added: Aug 8, 2024 Updated: Jul 10 at 3:43PM Checked: Jul 22 at 10:15AM
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 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 provides a versatile layout with multiple income-generating spaces and room for future expansion. There are three fully built-out commercial units currently leased to established tenants, including Frame Factor and Simes Studio, along with one vacant unit. The property's flexible zoning allows for a wide range of uses, including retail, office, or residential. Additional highlights include ample on-site parking, providing convenience for tenants, clients, and visitors.
Key Highlights
- Mixed‑use property in a sought‑after location offering versatile layout and income potential.
- Three fully built‑out commercial units are currently leased to established tenants, generating immediate rental income.
- One vacant unit is ideal for an owner‑user to occupy.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $360.0k | $30.00 |
| − Vacancy | −$36.0k | −$3.00 |
| EGI | $324.0k | $27.00 |
| − OpEx | −$121.5k | −$10.13 |
| NOI | $202.5k | $16.88 |
12,000 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$2.89M
$2.53M – $3.38M
NOI $202,500 @ 7.0% cap · market cap 7.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.66M
$4.95M – $6.60M
NOI $396,058 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Frame Factory
(Bike/Boat/Book/etc) Store
Simes Studios
Interior Design
PLAY! at Barks N' ...
Pet Grooming Service
Similar For Sale Nearby
FAQs
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 potential.; Three fully built‑out commercial units are currently leased to established tenants, generating immediate rental income.; One vacant unit is ideal for an owner‑user to occupy.
