Mixed-Use Building with
For Sale
$439,900
1813 W 63rd St, Chicago, IL 60636
Fully leased property combining residential apartments with street-level commercial space.
Property Size2,424 SF
Price / SF$181.48
Days on Market23
Property Features for 1813 W 63rd St
General Information
Standard status
Active
Size
2,424 SF
Occupancy
100%
Building Details
Year Built
1916
Tenancy
Multi
Listing Agency:
eXp Realty
(773) 606-6515
Listed By:
Reginald Patterson · License #471003428
Source:
Realtopiare
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 30 at 7:13PM
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 eXp Realty
Investment Insights
Based on property information with market context.
Constructed in 1916, this 2,424-square-foot mixed-use building combines four income-producing spaces under one roof. The residential component includes two three-bedroom, one-bath units, while two commercial storefronts occupy the balance of the property. The building is fully rented, providing an existing combination of residential and commercial occupancy.
One storefront is occupied by a liquor store that has operated at the property for over 17 years. The asset is located at 1813 W 63rd St in Chicago, Illinois 60636, and is associated with two PINs: 20192030040000 and 20192030050000.
One storefront is occupied by a liquor store that has operated at the property for over 17 years. The asset is located at 1813 W 63rd St in Chicago, Illinois 60636, and is associated with two PINs: 20192030040000 and 20192030050000.
Key Highlights
- 2,424‑square‑foot mixed‑use building constructed in 1916
- Two residential units, each with 3 bedrooms and 1 bath
- Two commercial storefronts included
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
$40,408
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
9.19%
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%
$808,160
$808.2K
Cap Rate 7%
$577,257
$577.3K
Cap Rate 9%
$448,978
$449.0K
Market Conditions
NOI Build-Up for 2,424 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
$61.1K $25.20/SF
− Vacancy
−$3.4K −$1.39/SF
EGI
$57.7K $23.81/SF
− OpEx
−$17.3K −$7.14/SF
NOI
$40.4K $16.67/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$808,160
Cap Rate 7%
$577,257
Cap Rate 9%
$448,978
Alternative Uses
Best Use
Mixed Use
$584.4K
$511.3K – $681.8K
NOI $40,905 @ 7.0% cap · market cap 9.30%
Second Best
Multifamily LT 5
$577.3K
$505.1K – $673.5K
NOI $40,408 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,004 @ 7.0% cap · market cap 18.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
687
Businesses Nearby
Explore this area
Business Placement
Demographics for 60636, IL
34,800
Population
14,363
Households
2.4
Avg Household Size
35
Median Age
11%
College-Educated
78%
High-School Grad
3.9 sq mi
ZIP Area
8,923
Density / Sq Mi
$35,077
Median Household Income
$30,411
Median Earnings
$1,135
Median Rent
$150,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased property combining residential apartments with street-level commercial space.
Where is this mixed-use property located?
The property is located at 1813 W 63rd St Chicago, IL.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: 2,424‑square‑foot mixed‑use building constructed in 1916; Two residential units, each with 3 bedrooms and 1 bath; Two commercial storefronts included
