Mixed-Use Building with
New
For Sale
$2,899,000
3026 W Montrose Avenue, Chicago, IL 60618
Commercial Sale, Chicago, IL
Property Size9,600 SF
Lot Size0.24 Acres
Price / SF$301.98
Days on Market2
Property Features for 3026 W Montrose Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Kedzie Ave. to Montrose Ave. east to address. California Ave. to Montrose Ave. west to address.
Subdivision
CHI - Albany Park
Standard status
Active
APN
13131280270000
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
24715
Utilities
Cooling system
Central Air
Building Details
Year built
1924
Floors in Building
2
Number of units
8
Building materials
Concrete, Brick
Listing Agency:
Century 21 Circle · Coldwell Banker Real Estate
(773) 465-4200
Listed By:
Mark Ahmad · License #471007186
(312) 513-4490
Added: Oct 14
Last Checked: Oct 15 at 4:06AM
MLS# 12759318
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1924 mixed-use building contains about 9,600 square feet across four street-level commercial stores and four residential units above. The commercial spaces are leased to two tenants. Two second-level residences connect with the main-floor dental office as duplex units; the remaining apartments comprise one two-bedroom, one-bath unit and one three-bedroom, one-bath unit. A rear lot provides 15 parking spaces reserved for commercial tenants.
The property occupies a corner at Montrose Avenue and Whipple Avenue, east of Kedzie Avenue. Walgreens, Starbucks, Dunkin', restaurants, shops, entertainment, and public transportation are within walking distance. The site is in a district described as having residential and commercial uses, with several surrounding Chicago neighborhoods identified nearby.
The property occupies a corner at Montrose Avenue and Whipple Avenue, east of Kedzie Avenue. Walgreens, Starbucks, Dunkin', restaurants, shops, entertainment, and public transportation are within walking distance. The site is in a district described as having residential and commercial uses, with several surrounding Chicago neighborhoods identified nearby.
Key Highlights
- About 9,600 Sq. ft. of mixed‑use building space
- Four street‑level commercial stores leased to 2 tenants
- Four residential units, including two duplex units integrated with the dental office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$162,000
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,240,000
$3.2M
Cap Rate 7%
$2,314,286
$2.3M
Cap Rate 9%
$1,800,000
$1.8M
Market Conditions
NOI Build-Up for 9,600 SF
Gross rent
$288.0K $30.00/SF
− Vacancy
−$28.8K −$3.00/SF
EGI
$259.2K $27.00/SF
− OpEx
−$97.2K −$10.13/SF
NOI
$162.0K $16.88/SF
Area
ZIP 60618
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%
$3,240,000
Cap Rate 7%
$2,314,286
Cap Rate 9%
$1,800,000
Alternative Uses
Best Use
Mixed Use
$2.31M
$2.03M – $2.70M
NOI $162,000 @ 7.0% cap · market cap 5.59%
Second Best
Retail
$1.93M
$1.69M – $2.25M
NOI $135,028 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$4.19M
$3.67M – $4.89M
NOI $293,611 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,479
Businesses Nearby
38k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 80%
Shops & Services 16%
Home Improvements & Furnishings 3%
McDonald's
Dining
28,743 visits/mo
0.3 miles
7-Eleven
Shops & Services
4,380 visits/mo
0.2 miles
Pantry
Shops & Services
1,813 visits/mo
0.4 miles
Golden Krust Caribbean Bakery and Grill
Dining
1,772 visits/mo
0.4 miles
Jays True Value
Home Improvements & Furnishings
1,216 visits/mo
0.4 miles
Demographics for 60618, IL
90,316
Population
41,053
Households
2.2
Avg Household Size
35
Median Age
55%
College-Educated
89%
High-School Grad
5.0 sq mi
ZIP Area
18,063
Density / Sq Mi
$101,558
Median Household Income
$60,263
Median Earnings
$1,534
Median Rent
$538,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four street-level commercial spaces and four residential units share a single property.
Where is this mixed-use property located?
The property is located at 3026 W Montrose Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $2,899,000.
What are key features of this property?
This property features: About 9,600 Sq. ft. of mixed‑use building space; Four street‑level commercial stores leased to 2 tenants; Four residential units, including two duplex units integrated with the dental office
