Roscoe Village Investment
3243 North Western Avenue Chicago, IL 60618
3243 North Western Avenue, Chicago, IL, 60618
$800,000
For Sale
$800,000
Three-unit building with bar, apartments, and licenses included.
Property Size2,400 SF
Lot Size0.06 Acres
Price / SF$333.33
Days on Market127
Property Features for 3243 North Western Avenue
General Information
- Standard status
- Active
- Size
- 2,400 SF
- Lot size
- 0.06 Acres
Building Details
- Year Built
- 1920
Listing Agency
Jameson Sotheby's Intl Realty
(773) 727-1707
Listed by
Beth Gomez · License #475109414
(773) 727-1707
Source
Compass
Added: Mar 13 Checked: Jul 17 at 3:28 am
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 Jameson Sotheby's Intl Realty
Investment Insights
Based on property information with market context.
This three-unit building in Roscoe Village presents a fantastic investment opportunity. Anchored by an owner-occupied, classic Chicago neighborhood saloon, the property includes a full, unfinished basement. The sale encompasses both late-night and tavern licenses. The second story features a two-bedroom, one-bath apartment with a 60-day kick-out clause. Shared laundry facilities for the bar and apartment are located in the basement. A detached coach house offers two bedrooms and two baths, also subject to a 60-day kick-out clause. The coach house includes a wide-open main living level suitable for lounging and dining, along with a full bath and office nook. The upper level boasts vaulted ceilings, skylights, and ample closet space. The unfinished basement provides storage, laundry facilities, and houses the mechanicals. A sign on the side of the building generates additional income. Please note that there is no on-site parking. The property is situated on a 24x100 lot and is zoned C1-2.
Key Highlights
- Three‑unit building in Roscoe Village.
- Includes operating neighborhood saloon with late‑night and tavern licenses.
- Detached two‑bedroom/two‑bath coach house with vaulted ceilings and skylights.
Local Financial Insights For Specialty Retail
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 | $57.6k | $24.00 |
| − Vacancy | −$4.0k | −$1.68 |
| EGI | $53.6k | $22.32 |
| − OpEx | −$13.4k | −$5.58 |
| NOI | $40.2k | $16.74 |
2,400 SF · lease $24.00/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$573.9K
$502.2K – $669.6K
NOI $40,176 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$496.7K
$434.6K – $579.5K
NOI $34,767 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$1.05M
$917.5K – $1.22M
NOI $73,403 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Under Bar
Bar & Pub
Similar For Sale Nearby
Similar Off Market Nearby
- M V Lounge — 2546 n maplewood ave, chicago, il 60647
- Hexe Coffee Co. — 2000 W Diversey Pkwy, Chicago, IL 60614
- Sweet Bar — N Elston Ave, Chicago, IL 60647
- Quality Time — 2934 W Diversey Ave, Chicago, IL 60647
- The Chicago Spirit — 2951 W Diversey Ave, Chicago, IL 60647
FAQs
What type of property is this?
Bar & Pub - Three-unit building with bar, apartments, and licenses included.
Where is this bar & pub located?
The property is located at 3243 North Western Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Three‑unit building in Roscoe Village.; Includes operating neighborhood saloon with late‑night and tavern licenses.; Detached **two‑bedroom/two‑bath coach house with vaulted ceilings and skylights.**
