Mixed-Use Property with
3447 W Chicago Avenue, Chicago, IL 60651
For Sale
New
$739,999
The building includes three legal residential units and additional space configured in a residential style.
Property Size1,900 SF
Days on Market3
Property Features for 3447 W Chicago Avenue
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Mixed-Use Components
Additional Details
Asking Price
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Homecoin.com
Listed By:
Jonathan Minerick · License IL #01523060
(888) 100-2513
Source:
Kalelrealty
Added: Nov 11
Changed: Nov 12
Last Checked: Nov 13 at 6:39PM
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 Homecoin.com
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Investment Insights
Based on property information with market context.
This rehabilitated mixed-use property combines a commercial storefront with three legal residential units and an additional unconventional residential-style space. The existing layout contains 10 bedrooms and 4 bathrooms, and the building dates to 1905. Zoning is designated MULTI.
At 3447 W Chicago Avenue, the property is positioned along the Chicago Avenue commercial corridor in Chicago’s Humboldt Park neighborhood. Nearby activity includes new residential construction and mixed-use redevelopment.
At 3447 W Chicago Avenue, the property is positioned along the Chicago Avenue commercial corridor in Chicago’s Humboldt Park neighborhood. Nearby activity includes new residential construction and mixed-use redevelopment.
Key Highlights
- Three legal residential units plus an additional unconventional residential‑style space
- Commercial storefront on the Chicago Avenue commercial corridor
- 10 bedrooms and 4 bathrooms across the existing configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,063
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$641,260
$641.3K
Cap Rate 7%
$458,043
$458.0K
Cap Rate 9%
$356,256
$356.3K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$57.0K $30.00/SF
− Vacancy
−$5.7K −$3.00/SF
EGI
$51.3K $27.00/SF
− OpEx
−$19.2K −$10.13/SF
NOI
$32.1K $16.88/SF
Area
Chicago, IL
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%
$641,260
Cap Rate 7%
$458,043
Cap Rate 9%
$356,256
Alternative Uses
Best Use
Mixed Use
$458.0K
$400.8K – $534.4K
NOI $32,063 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$416.1K
$364.1K – $485.4K
NOI $29,125 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$895.8K
$783.9K – $1.05M
NOI $62,709 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 60651, IL
62,819
Population
22,885
Households
2.7
Avg Household Size
36
Median Age
16%
College-Educated
77%
High-School Grad
3.5 sq mi
ZIP Area
17,948
Density / Sq Mi
$52,963
Median Household Income
$33,783
Median Earnings
$1,186
Median Rent
$262,700
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Chicago, IL
Properties on Market for Mixed-use properties in Chicago
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The building includes three legal residential units and additional space configured in a residential style.
Where is this mixed-use property located?
The property is located at 3447 W Chicago Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $739,999.
What are key features of this property?
This property features: Three legal residential units plus an additional unconventional residential‑style space; Commercial storefront on the Chicago Avenue commercial corridor; 10 bedrooms and 4 bathrooms across the existing configuration
