Two-Story Brick Mixed-Use
For Sale
$620,000
3108 W Irving Park Rd, Chicago, IL 60618
The two-story property is fully occupied and zoned B31.
Property Size3,500 SF
Price / SF$177.14
Days on Market76
Property Features for 3108 W Irving Park Rd
General Information
Standard status
Active
Size
3,500 SF
Zoning
B31
Occupancy
100%
Building Details
Year Built
1928
Stories
2
Construction
brick
Listing Agency:
Compass
Listed By:
Amy Duong, Trung Duong · License #471010345
(312) 285-0041
Source:
Liveliferealty
Added: Aug 1
Changed: Oct 3
Last Checked: Oct 7 at 2:27PM
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 Compass
Investment Insights
Based on property information with market context.
Located at 3108 W Irving Park Rd in Chicago, this two-story brick building contains 3,500 square feet of mixed-use space. Constructed in 1928, the property is fully occupied and carries B31 zoning.
The building’s mixed-use classification supports its commercial positioning within the Chicago market. Its two-story configuration and brick construction define the physical profile of the asset, while current full occupancy provides an established operating status.
The building’s mixed-use classification supports its commercial positioning within the Chicago market. Its two-story configuration and brick construction define the physical profile of the asset, while current full occupancy provides an established operating status.
Key Highlights
- 3,500‑square‑foot mixed‑use building
- Two‑story brick construction
- Fully occupied property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,229
Cap Rate
7.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$984,580
$984.6K
Cap Rate 7%
$703,271
$703.3K
Cap Rate 9%
$546,989
$547.0K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$76.9K $21.96/SF
− Vacancy
−$6.5K −$1.87/SF
EGI
$70.3K $20.09/SF
− OpEx
−$21.1K −$6.03/SF
NOI
$49.2K $14.07/SF
Area
ZIP 60618
Vacancy
8.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$984,580
Cap Rate 7%
$703,271
Cap Rate 9%
$546,989
Alternative Uses
Best Use
Mixed Use
$843.8K
$738.3K – $984.4K
NOI $59,063 @ 7.0% cap · market cap 9.53%
Second Best
Retail
$703.3K
$615.4K – $820.5K
NOI $49,229 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,046 @ 7.0% cap · market cap 17.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,116
Businesses Nearby
Explore this area
Business Placement
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
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Market
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 - The two-story property is fully occupied and zoned B31.
Where is this mixed-use property located?
The property is located at 3108 W Irving Park Rd Chicago, IL.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: 3,500‑square‑foot mixed‑use building; Two‑story brick construction; Fully occupied property
