6-Unit Mixed-Use
For Sale
Contact for pricing
2149 W Division Street, Chicago, IL 60642
Renovated apartments sit above an established retail operation along a Chicago commercial corridor.
Property Size6,600 SF
Price / SF$347.73
Days on Market51
Property Features for 2149 W Division Street
General Information
Standard status
Active
Size
6,600 SF
Total Parking Spaces
3
Property subtype
Mixed Use, Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$147,776
Additional Details
Multifamily Units
5
Building Details
Year Built
1904
Year Renovated
2017
Buildings
1
Stories
3
Units
6
Tenancy
Multi
Listing Agency:
Division Street Capital
Listed By:
Brian Moore · License #IL475164723
Source:
Crexi
Added: Aug 31
Changed: Oct 3
Last Checked: Oct 19 at 5:17AM
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 Division Street Capital
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Investment Insights
Based on property information with market context.
This 6,600-square-foot mixed-use building, constructed in 1904, combines five renovated apartments with a ground-floor retail space. The residential portion received a comprehensive renovation in 2016, including hardwood floors, updated kitchens with granite counters and stainless steel appliances, in-unit laundry, modern bathrooms, upgraded plumbing, rewiring, electrical panels, safety systems, and high-speed internet connections. The brick façade was rebuilt as part of the property improvements.
NABI Cleaners has operated at the address for 24 years and occupies the retail space under a lease extending through October 31, 2028, with 3% annual rent escalations. The property is located at 2149 W. Division Street in Chicago, along the commercial corridor serving Wicker Park and Ukrainian Village.
NABI Cleaners has operated at the address for 24 years and occupies the retail space under a lease extending through October 31, 2028, with 3% annual rent escalations. The property is located at 2149 W. Division Street in Chicago, along the commercial corridor serving Wicker Park and Ukrainian Village.
Key Highlights
- 6,600 SF mixed‑use building at 2149 W. Division Street, Chicago, IL
- Five apartments renovated in 2016 with in‑unit washers and dryers
- Ground‑floor NABI Cleaners operation has been at the location for 24 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$111,375
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,227,500
$2.2M
Cap Rate 7%
$1,591,071
$1.6M
Cap Rate 9%
$1,237,500
$1.2M
Market Conditions
NOI Build-Up for 6,600 SF
Gross rent
$198.0K $30.00/SF
− Vacancy
−$19.8K −$3.00/SF
EGI
$178.2K $27.00/SF
− OpEx
−$66.8K −$10.13/SF
NOI
$111.4K $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%
$2,227,500
Cap Rate 7%
$1,591,071
Cap Rate 9%
$1,237,500
Alternative Uses
Best Use
Mixed Use
$1.59M
$1.39M – $1.86M
NOI $111,375 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$1.45M
$1.26M – $1.69M
NOI $101,172 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$3.11M
$2.72M – $3.63M
NOI $217,832 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
5,215
Businesses Nearby
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Business Placement
Demographics for 60642, IL
21,687
Population
12,144
Households
1.8
Avg Household Size
33
Median Age
78%
College-Educated
97%
High-School Grad
1.7 sq mi
ZIP Area
12,757
Density / Sq Mi
$141,179
Median Household Income
$90,885
Median Earnings
$2,216
Median Rent
$604,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated apartments sit above an established retail operation along a Chicago commercial corridor.
Where is this mixed-use property located?
The property is located at 2149 W Division Street Chicago, IL.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: 6,600 SF mixed‑use building at 2149 W. Division Street, Chicago, IL; Five apartments renovated in 2016 with in‑unit washers and dryers; Ground‑floor NABI Cleaners operation has been at the location for 24 years
