Corner Mixed-Use
3256 N Elston Avenue Chicago, IL 60618
3256 N Elston Avenue, Chicago, IL, 60618
$1,199,000
For Sale
Under Contract
$1,199,000
COMMERCIAL - Chicago, IL
Property Size5,368 SF
Lot Size0.14 Acres
Price / SF$223.36
Days on Market52
Property Features for 3256 N Elston Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active Under Contract
- APN
- 13243220250000
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 16049
Utilities
- Utilities
- Natural Gas Available
- Cooling system
- Central Air
Building Details
- Year built
- 1916
- Floors in Building
- 2
- Number of units
- 3
- Building materials
- Brick
Listing agency
Chicagoland Brokers, Inc.
(773) 745-1000
Listed by
Petru Amarei · License #471013177
(773) 745-1000
Added: Jun 1 Updated: Jul 20 at 3:52PM Checked: Jul 22 at 11:06AM
MLS# 12664077
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 corner mixed-use property includes approximately 5,368 square feet total. The commercial portion offers approximately 2,500 square feet of open space, along with two full basements providing an additional approximately 2,000 square feet of storage.
Above the commercial unit are two well-sized 2-bedroom apartments. The listing estimates the commercial space at approximately $5,000 per month in rental income, with the two residential units combined at approximately $4,000 per month.
Located at 3256 N Elston Avenue in Chicago, the property is described as highly visible with over 15,000 vehicles passing daily. Access is noted as minutes to the Kennedy Expressway via Sacramento, Kedzie, and California Avenue, and approximately a 15-minute walk to the CTA Blue Line at Kimball.
Above the commercial unit are two well-sized 2-bedroom apartments. The listing estimates the commercial space at approximately $5,000 per month in rental income, with the two residential units combined at approximately $4,000 per month.
Located at 3256 N Elston Avenue in Chicago, the property is described as highly visible with over 15,000 vehicles passing daily. Access is noted as minutes to the Kennedy Expressway via Sacramento, Kedzie, and California Avenue, and approximately a 15-minute walk to the CTA Blue Line at Kimball.
Key Highlights
- Mixed‑use corner property in Avondale with approximately 5,368 SF total building area
- Commercial space has about 2,500 SF open space and two full basements adding about 2,000 SF storage
- Estimated commercial rent is approximately $5,000/month
Local Financial Insights For Mixed Use
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 | $161.0k | $30.00 |
| − Vacancy | −$16.1k | −$3.00 |
| EGI | $144.9k | $27.00 |
| − OpEx | −$54.4k | −$10.13 |
| NOI | $90.6k | $16.88 |
5,368 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$1.70M
$1.49M – $1.98M
NOI $118,948 @ 7.0% cap · market cap 9.92%
Second Best
Mixed Use
$1.29M
$1.13M – $1.51M
NOI $90,585 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$2.35M
$2.05M – $2.74M
NOI $164,177 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Live-work space
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Corner mixed-use building with retail open space, two apartments, and two full basements for storage.
Where is this mixed-use property located?
The property is located at 3256 N Elston Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Mixed‑use corner property in Avondale with approximately 5,368 SF total building area; Commercial space has about 2,500 SF open space and two full basements adding about 2,000 SF storage; Estimated commercial rent is approximately $5,000/month
