Mixed-Use Building with
For Sale
$1,199,000
3256 N Elston Avenue, Chicago, IL 60618
Commercial space is paired with two residential apartments in a single property.
Property Size5,368 SF
Price / SF$223.36
Days on Market148
Property Features for 3256 N Elston Avenue
General Information
Standard status
Active
Size
5,368 SF
Property subtype
Commercial
Site & Location
Neighborhood
Avondale
Corner Location
Yes
Traffic Count
15,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Mixed-Use Components
retail, residential
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$16,049
Building Details
Building Size
5,368 SF
Year Built
1916
Buildings
1
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
Chicagoland Brokers, Inc.
Listed By:
Petru Amarei · License #471013177
(773) 745-1000
Source:
Crossdavidson
Added: Jun 1
Changed: Oct 25
Last Checked: Oct 23 at 3:40PM
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 Chicagoland Brokers, Inc.
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Investment Insights
Based on property information with market context.
This 5,368-square-foot mixed-use property, built in 1916, combines approximately 2,500 square feet of commercial space with two two-bedroom apartments above. The commercial area is currently open space, and two basements add approximately 2,000 square feet of storage.
At 3256 N Elston Avenue in Chicago, the corner property has exposure to more than 15,000 vehicles daily. Kennedy Expressway access is available via Sacramento, Kedzie, and California Avenue, and the CTA Blue Line at Kimball is approximately a 15-minute walk away.
At 3256 N Elston Avenue in Chicago, the corner property has exposure to more than 15,000 vehicles daily. Kennedy Expressway access is available via Sacramento, Kedzie, and California Avenue, and the CTA Blue Line at Kimball is approximately a 15-minute walk away.
Key Highlights
- 5,368‑square‑foot mixed‑use property built in 1916
- Approximately 2,500 square feet of commercial space, currently open
- Two two‑bedroom apartments above the commercial space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,585
Cap Rate
7.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,811,700
$1.8M
Cap Rate 7%
$1,294,071
$1.3M
Cap Rate 9%
$1,006,500
$1.0M
Market Conditions
NOI Build-Up for 5,368 SF
Gross rent
$161.0K $30.00/SF
− Vacancy
−$16.1K −$3.00/SF
EGI
$144.9K $27.00/SF
− OpEx
−$54.4K −$10.13/SF
NOI
$90.6K $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%
$1,811,700
Cap Rate 7%
$1,294,071
Cap Rate 9%
$1,006,500
Alternative Uses
Best Use
Mixed Use
$1.29M
$1.13M – $1.51M
NOI $90,585 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$1.11M
$972.0K – $1.30M
NOI $77,761 @ 7.0% cap · market cap 6.49%
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Residential units
15,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,819
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space is paired with two residential apartments in a single property.
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: 5,368‑square‑foot mixed‑use property built in 1916; Approximately 2,500 square feet of commercial space, currently open; Two two‑bedroom apartments above the commercial space
