Mixed-Use Retail and Residential
3511 South Halsted Street Chicago, IL 60609
3511 South Halsted Street, Chicago, IL, 60609
$825,000
For Sale
$825,000
Fully occupied mixed-use building with one retail storefront and two remodeled residential units, all currently leased.
Property Size2,976 SF
Price / SF$277.22
Days on Market27
Property Features for 3511 South Halsted Street
General Information
- Standard status
- Active
- Size
- 2,976 SF
Building Details
- Year Built
- 1886
Listing agency
RE/MAX Top Performers
(847) 295-0800
Listed by
Khaliun Amarjargal · License #475182338
(847) 295-0800
Source
Compass
Added: Jun 26 Updated: Jul 21 at 9:20PM Checked: Jul 21 at 9:20PM
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 RE/MAX Top Performers
Investment Insights
Based on property information with market context.
This fully occupied mixed-use building includes one retail storefront and two residential units. Each residential unit provides two bedrooms and one bathroom. The property was fully remodeled in 2019 and is currently 100% leased with long-term tenants in place.
Showings are available with advance notice. Tenants are on month-to-month leases, with one tenant extending their lease until June of 2027, providing a measure of continuity while still allowing flexibility for future ownership plans.
For buyers looking for a turnkey configuration that combines retail space with residential income, the building’s existing occupancy and recent remodel are key considerations.
Showings are available with advance notice. Tenants are on month-to-month leases, with one tenant extending their lease until June of 2027, providing a measure of continuity while still allowing flexibility for future ownership plans.
For buyers looking for a turnkey configuration that combines retail space with residential income, the building’s existing occupancy and recent remodel are key considerations.
Key Highlights
- Built in 1886, fully occupied mixed‑use building with one retail storefront and two residential units
- Two residential units: each has 2 bedrooms and 1 bathroom
- Remodeled in 2019 and described as well‑maintained
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 | $89.3k | $30.00 |
| − Vacancy | −$8.9k | −$3.00 |
| EGI | $80.4k | $27.00 |
| − OpEx | −$30.1k | −$10.13 |
| NOI | $50.2k | $16.88 |
2,976 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$717.4K
$627.8K – $837.0K
NOI $50,220 @ 7.0% cap · market cap 6.09%
Second Best
Multifamily LT 5
$708.7K
$620.1K – $826.8K
NOI $49,609 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,222 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Big Kahuna SCHOOL ...
(Bike/Boat/Book/etc) Store
Windy City Magazines ...
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Fully occupied mixed-use building with one retail storefront and two remodeled residential units, all currently leased.
Where is this mixed-use property located?
The property is located at 3511 South Halsted Street Chicago, IL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Built in 1886, fully occupied mixed‑use building with one retail storefront and two residential units; Two residential units: each has 2 bedrooms and 1 bathroom; Remodeled in 2019 and described as well‑maintained
