Englewood Mixed-Use Investment
For Sale
$439,900
1813 W 63rd Street, Chicago, IL 60636
Mixed-use property in Englewood with residential and commercial spaces.
Property Size2,424 SF
Price / SF$181.48
Days on Market234
Property Features for 1813 W 63rd Street
General Information
Standard status
Active
Size
2,424 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,109
Building Details
Building Size
2,424 SF
Year Built
1916
Stories
2
Units
4
Listing Agency:
eXp Realty
(888) 574-9405
Listed By:
Reginald Patterson · License #471003428
(888) 574-9405
Source:
Ozmentrealestate
Added: Jan 1
Changed: Aug 23
Last Checked: Aug 21 at 11:51AM
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.
This mixed-use property is located in the growing Englewood neighborhood. It offers an investment opportunity with both residential and commercial spaces. The property includes two residential units, each featuring 3 bedrooms and 1 bath, providing comfortable living spaces. There are also two commercial storefronts situated on a high-traffic street, offering visibility suitable for entrepreneurs or small businesses. One of the commercial units is currently leased to a liquor store that has been in business for 17 years, providing a steady income stream. The building is fully rented. The property size is 2424 square feet.
Key Highlights
- Fully rented mixed‑use property with residential and commercial spaces.
- Two commercial storefronts on a high‑traffic street with excellent visibility.**
- One commercial unit provides immediate and steady income stream (liquor store in business for 17 years).
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
$37,158
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
8.45%
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%
$743,160
$743.2K
Cap Rate 7%
$530,829
$530.8K
Cap Rate 9%
$412,867
$412.9K
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
$71.3K $29.40/SF
− Vacancy
−$3.7K −$1.53/SF
EGI
$67.6K $27.87/SF
− OpEx
−$30.4K −$12.54/SF
NOI
$37.2K $15.33/SF
Area
Chicago, IL
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
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%
$743,160
Cap Rate 7%
$530,829
Cap Rate 9%
$412,867
Alternative Uses
Best Use
Mixed Use
$584.4K
$511.3K – $681.8K
NOI $40,905 @ 7.0% cap · market cap 9.30%
Second Best
Apartment 5plus
$530.8K
$464.5K – $619.3K
NOI $37,158 @ 7.0% cap · market cap 8.45%
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
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property in Englewood with residential and commercial spaces.
Where is this mixed-use property located?
The property is located at 1813 W 63rd Street 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: Fully rented mixed‑use property with residential and commercial spaces.; Two commercial storefronts on a high‑traffic street with excellent visibility.**; One commercial unit provides immediate and steady income stream (liquor store in business for 17 years).
