Mixed-Use Building with
3122 South Morgan Street Chicago, IL 60608
3122 South Morgan Street, Chicago, IL, 60608
$1,280,000
For Sale
$1,280,000
Two residential units, ground-floor commercial space, and three outdoor parking spaces support mixed-use operations.
Property Size2,925 SF
Price / SF$437.61
Days on Market117
Property Features for 3122 South Morgan Street
General Information
- Standard status
- Active
- Size
- 2,925 SF
Building Details
- Year Built
- 2026
Listing agency
Century 21 Realty Associates
(773) 895-2943
Listed by
Ivan Man · License #475145659
(773) 895-2943
Source
Compass
Added: Mar 28 Updated: Jul 22 at 12:59PM Checked: Jul 22 at 12:59PM
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 Century 21 Realty Associates
Investment Insights
Based on property information with market context.
This mixed-use building offers two residential units and a ground-floor commercial space. The residential portion is presented as ready for rental income, while the commercial area is marketed as suitable for medical, retail, or office use. Three outdoor parking spaces are included to support tenants and visitors.
The property is located in the Bridgeport area at 3122 South Morgan Street in Chicago, IL 60608. The listing also describes the site as having high foot traffic and visibility.
Overall, the configuration supports an owner-occupant or investor model by combining on-site residential income with ground-floor commercial space under one ownership.
The property is located in the Bridgeport area at 3122 South Morgan Street in Chicago, IL 60608. The listing also describes the site as having high foot traffic and visibility.
Overall, the configuration supports an owner-occupant or investor model by combining on-site residential income with ground-floor commercial space under one ownership.
Key Highlights
- Year built 2026
- Mixed‑use building with 2 residential units
- Ground‑floor commercial space for medical, retail, or office use
Local Financial Insights For Office B
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 | $112.3k | $38.40 |
| − Vacancy | −$28.6k | −$9.79 |
| EGI | $83.7k | $28.61 |
| − OpEx | −$20.9k | −$7.15 |
| NOI | $62.8k | $21.46 |
2,925 SF · lease $38.40/SF/yr · vacancy 25.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$896.6K
$784.5K – $1.05M
NOI $62,759 @ 7.0% cap · market cap 4.90%
Second Best
Mixed Use
$705.1K
$617.0K – $822.7K
NOI $49,359 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,539 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Two residential units, ground-floor commercial space, and three outdoor parking spaces support mixed-use operations.
Where is this mixed-use property located?
The property is located at 3122 South Morgan Street Chicago, IL.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: Year built 2026; Mixed‑use building with 2 residential units; Ground‑floor commercial space for medical, retail, or office use
