Mixed-Use Brick Building with
For Sale
$1,749,000
1953 Roscoe Street, Chicago, IL 60657
Renovated six-unit, three-story brick mixed-use building with retail storefront, parking, and basement laundry.
Property Size6,336 SF
Price / SF$276.04
Days on Market254
Property Features for 1953 Roscoe Street
General Information
Standard status
Active
Size
6,336 SF
Total Parking Spaces
6
Property subtype
Mixed Use
Occupancy
100%
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$25,686
Amenities
side yard
coin laundry
Window Air Conditioning
3
Building Details
Year Built
1893
Stories
3
Construction
vintage brick
Tenancy
Multi
Listing Agency:
Connect Realty.com Inc.
(312) 805-4944
Listed By:
Henry Jung · License #475146011
(312) 805-4944
Source:
Xome
Added: Nov 29, 2025
Changed: Aug 7
Last Checked: Aug 9 at 4:46AM
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 Connect Realty.com Inc.
Investment Insights
Based on property information with market context.
This renovated, vintage brick, three-story mixed-use building contains one commercial retail storefront and five residential rental units in a total six-unit configuration. The building is described as fully occupied, with each rental unit set up as a 2BR/1BA layout and served by separate heat and hot water tanks. A coin-operated laundry is located in the unfinished basement, and the basement is also described as having potential for other uses.
The property is situated on a 37.5-foot-wide lot at 1953 W Roscoe Street and includes six parking spaces along with a side yard. The remarks also note additional income associated with west exposure signage and a proposed, pending cell tower lease described as adding $2,000 per month.
The property is situated on a 37.5-foot-wide lot at 1953 W Roscoe Street and includes six parking spaces along with a side yard. The remarks also note additional income associated with west exposure signage and a proposed, pending cell tower lease described as adding $2,000 per month.
Key Highlights
- Renovated 6‑unit, 3‑story vintage brick mixed‑use building built in 1893
- Mixed‑use layout with 1 commercial retail storefront plus 5 residential rental units
- All residential units are 2BR/1BA; window A/C provided
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
$106,920
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
6.11%
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%
$2,138,400
$2.1M
Cap Rate 7%
$1,527,429
$1.5M
Cap Rate 9%
$1,188,000
$1.2M
Market Conditions
NOI Build-Up for 6,336 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
$190.1K $30.00/SF
− Vacancy
−$19.0K −$3.00/SF
EGI
$171.1K $27.00/SF
− OpEx
−$64.2K −$10.13/SF
NOI
$106.9K $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 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%
$2,138,400
Cap Rate 7%
$1,527,429
Cap Rate 9%
$1,188,000
Alternative Uses
Best Use
Mixed Use
$1.53M
$1.34M – $1.78M
NOI $106,920 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$1.39M
$1.21M – $1.62M
NOI $97,126 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$2.99M
$2.61M – $3.49M
NOI $209,118 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,444
Businesses Nearby
Explore this area
Business Placement
Demographics for 60657, IL
72,316
Population
42,246
Households
1.7
Avg Household Size
32
Median Age
87%
College-Educated
99%
High-School Grad
2.2 sq mi
ZIP Area
32,871
Density / Sq Mi
$109,025
Median Household Income
$77,731
Median Earnings
$1,839
Median Rent
$534,500
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 - Renovated six-unit, three-story brick mixed-use building with retail storefront, parking, and basement laundry.
Where is this mixed-use property located?
The property is located at 1953 Roscoe Street Chicago, IL.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: Renovated 6‑unit, 3‑story vintage brick mixed‑use building built in 1893; Mixed‑use layout with 1 commercial retail storefront plus 5 residential rental units; All residential units are 2BR/1BA; window A/C provided
