Corner Mixed-Use
1954-1956 W Armitage Ave, Chicago, IL 60614
For Sale
Contact for pricing
Four ground-floor business spaces are paired with four apartments above.
Property Size9,355 SF
Price / SF$389.95
Days on Market12
Property Features for 1954-1956 W Armitage Ave
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Corner Location
Mixed-Use Components
Additional Details
Asking Price
Tenant in Place
Building Details
Year Built
Year Renovated
Buildings
Tenancy
Listing Agency:
Caton Commercial Real Estate Group
Listed By:
Mikus Kins · License #IL 475.161490
(312) 925-8013
Source:
Crexi
Added: Oct 29
Changed: Nov 8
Last Checked: Nov 8 at 6:17PM
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 Caton Commercial Real Estate Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 9,355-square-foot mixed-use property combines four commercial units at street level with four apartments on the upper floor. Constructed in 1915, the building was renovated in 2019 and is fully occupied. A long-term Verizon cell tower lease is also in place.
The property occupies the Armitage Avenue and Damen Avenue corner in Chicago’s Bucktown neighborhood. The CTA Blue Line and The 606 are steps away, with the neighborhood’s dining and retail corridor nearby.
The property occupies the Armitage Avenue and Damen Avenue corner in Chicago’s Bucktown neighborhood. The CTA Blue Line and The 606 are steps away, with the neighborhood’s dining and retail corridor nearby.
Key Highlights
- 9,355 SF mixed‑use building with four commercial units and four apartments
- Built in 1915 and renovated in 2019
- Fully occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$157,866
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,157,320
$3.2M
Cap Rate 7%
$2,255,229
$2.3M
Cap Rate 9%
$1,754,067
$1.8M
Market Conditions
NOI Build-Up for 9,355 SF
Gross rent
$280.7K $30.00/SF
− Vacancy
−$28.1K −$3.00/SF
EGI
$252.6K $27.00/SF
− OpEx
−$94.7K −$10.13/SF
NOI
$157.9K $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 Rate 5%
$3,157,320
Cap Rate 7%
$2,255,229
Cap Rate 9%
$1,754,067
Alternative Uses
Best Use
Mixed Use
$2.26M
$1.97M – $2.63M
NOI $157,866 @ 7.0% cap · market cap 4.33%
Second Best
Multifamily LT 5
$2.23M
$1.95M – $2.60M
NOI $155,946 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$4.41M
$3.86M – $5.15M
NOI $308,760 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,366
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
$730,700
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Chicago, IL
Properties on Market for Mixed-use properties in Chicago
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four ground-floor business spaces are paired with four apartments above.
Where is this mixed-use property located?
The property is located at 1954-1956 W Armitage Ave Chicago, IL.
What is the asking price?
The asking price for this property is $3,648,000.
What are key features of this property?
This property features: 9,355 SF mixed‑use building with four commercial units and four apartments; Built in 1915 and renovated in 2019; Fully occupied
