West Ridge Mixed-Use
For Sale
Contact for pricing
2945 W Peterson Ave, Chicago, IL 60659
Cash-flowing mixed-use property in Chicago's West Ridge neighborhood.
Property Size10,044 SF
Days on Market106
Property Features for 2945 W Peterson Ave
General Information
Standard status
Active
Size
10,044 SF
Class
B
Total Parking Spaces
5
Property subtype
Mixed Use, Multifamily, Office
Zoning
B3-2
Occupancy
100%
Lease Type
Gross
Investment Type
Value Add
Building Details
Year Built
1963
Year Renovated
2023
Buildings
1
Stories
2
Units
13
Tenancy
Multi
Listing Agency:
Kawash Real Estate Group
(630) 337-9126
Listed By:
Nedal Kawash · License #IL 471022064
Source:
Crexi
Added: May 15
Changed: Aug 14
Last Checked: Aug 28 at 10:47AM
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 Kawash Real Estate Group
Investment Insights
Based on property information with market context.
Located in Chicago's West Ridge neighborhood, 2945 W Peterson Ave is a mixed-use property situated along the Peterson Avenue commercial corridor near the intersection of Peterson & Sacramento. The property offers a diversified income stream from residential apartments and street-front commercial/office suites. The 13-unit building has in-place cash flow and value-add potential through the lease-up of vacant commercial spaces. Strategic leasing, light build-outs, and optimizing rental rates can enhance the bottom line. The property is located in a vibrant North Side submarket, benefiting from a dense, established community, nearby retail offerings, and traffic along Peterson Avenue. The area's residential demand and the presence of both national and local retailers support tenant interest and income growth. The property offers an attractive in-place cap rate at acquisition, with a trajectory toward a higher stabilized return. It is ideal for investors seeking a predictable yield with room for expansion, offering a mix of commercial and residential spaces, a stable tenant base, and a strategic infill location. The property is an option for repositioning or extended ownership, and is an enticing prospect for value-add enthusiasts, 1031 exchange buyers, and owner-users seeking a blend of commercial space and residential income. The property size is 10,044 square feet.
Key Highlights
- Diversified income stream from residential apartments and street‑front commercial/office suites.
- Robust in‑place cash flow with value‑add potential through lease‑up of vacant commercial spaces.
- Located in a dense, established North Side community with high residential demand and strong retail presence.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,825
Businesses Nearby
Explore this area
Business Placement
Demographics for 60659, IL
40,579
Population
14,748
Households
2.8
Avg Household Size
36
Median Age
40%
College-Educated
82%
High-School Grad
2.4 sq mi
ZIP Area
16,908
Density / Sq Mi
$70,033
Median Household Income
$40,493
Median Earnings
$1,391
Median Rent
$358,800
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 - Cash-flowing mixed-use property in Chicago's West Ridge neighborhood.
Where is this mixed-use property located?
The property is located at 2945 W Peterson Ave Chicago, IL.
What are key features of this property?
This property features: Diversified income stream from residential apartments and street‑front commercial/office suites.; Robust in‑place cash flow with value‑add potential through lease‑up of vacant commercial spaces.; Located in a dense, established North Side community with high residential demand and strong retail presence.
