Renovated Mixed-Use Building in
For Sale
$650,000
2611 S Lawndale Avenue, Chicago, IL 60623
Fully renovated mixed-use building in Chicago's Little Village neighborhood.
Property Size3,600 SF
Lot Size0.07 Acres
Price / SF$180.56
Days on Market832
Property Features for 2611 S Lawndale Avenue
General Information
Standard status
Active
Size
3,600 SF
Lot size
0.07 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1901
Listing Agency:
Baird & Warner
(773) 732-0797
Listed By:
Wesley Jonberg · License #475124475
(773) 732-0797
Source:
Exitrealty
Added: Apr 22, 2024
Changed: Jul 6
Last Checked: Aug 1 at 9:07AM
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 Baird & Warner
Investment Insights
Based on property information with market context.
Located at 2611 South Lawndale Avenue in Chicago's Little Village neighborhood, this urban mixed-use property features a new roof and a fully renovated two-story building. The property has 3,600 square feet of gross leasable area and is situated on a 3,076 square foot site. Zoned B3-2, the property includes a full basement, one commercial space, and a fully leased second-floor apartment. Its location in a mixed commercial and residential setting makes it suitable for investment or owner-user opportunities. The property's strategic location provides convenient access to major thoroughfares, public transportation, shopping centers, restaurants, and recreational facilities. This stand-alone building offers a unique acquisition opportunity in the Little Village neighborhood.
Key Highlights
- Prime location in Chicago's Little Village, offering investment or owner‑user opportunities.
- Fully renovated 2‑story mixed‑use building with 3,600 SF of gross leasable area.
- Zoned B3‑2, featuring 1 commercial space and a fully leased 2nd‑floor apartment.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.8k | $29.40 |
| − Vacancy | −$5.5k | −$1.53 |
| EGI | $100.3k | $27.87 |
| − OpEx | −$45.2k | −$12.54 |
| NOI | $55.2k | $15.33 |
3,600 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Mixed Use
$867.9K
$759.4K – $1.01M
NOI $60,750 @ 7.0% cap · market cap 9.35%
Second Best
Apartment 5plus
$788.4K
$689.8K – $919.8K
NOI $55,185 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $118,817 @ 7.0% cap · market cap 18.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,091
Businesses Nearby
Explore this area
Business Placement
Demographics for 60623, IL
87,649
Population
31,300
Households
2.8
Avg Household Size
32
Median Age
14%
College-Educated
69%
High-School Grad
5.4 sq mi
ZIP Area
16,231
Density / Sq Mi
$44,040
Median Household Income
$32,642
Median Earnings
$1,054
Median Rent
$221,400
Median Home Value
Market
Properties on Market for Mixed-use properties in Chicago
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully renovated mixed-use building in Chicago's Little Village neighborhood.
Where is this mixed-use property located?
The property is located at 2611 S Lawndale Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Prime location in Chicago's Little Village, offering investment or owner‑user opportunities.; Fully renovated 2‑story mixed‑use building with **3,600 SF of gross leasable area.**; Zoned B3‑2, featuring **1 commercial space and a fully leased 2nd‑floor apartment.**
