Mixed-Use Property with Warehouse
For Sale
$799,000
3612 W Roosevelt Road, Chicago, IL 60624
Commercial Sale, Chicago, IL
Property Size4,800 SF
Lot Size0.27 Acres
Price / SF$85.91
Days on Market273
Property Features for 3612 W Roosevelt Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
East or West on Roosevelt Rd to 3612. Nearest cross street is Central Park.
Subdivision
CHI - North Lawndale
Standard status
Active
APN
16143280580000
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
39979
Utilities
Cooling system
Window Unit(s)
Building Details
Year built
1915
Floors in Building
2
Number of units
5
Building materials
Brick
Listing Agency:
Pearson Realty Group
(773) 325-2800
Listed By:
David McLennan · License #475165323
(312) 925-7938
Added: Dec 15, 2025
Changed: Aug 19
Last Checked: Sep 14 at 2:06AM
MLS# 12533177
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 mixed-use holding spans four Roosevelt Road addresses and approximately 0.2738 acres. The improvements include about 9,300 sf of office and warehouse area, with cold-storage use within the warehouse portion. The property also contains two renovated apartments totaling approximately 2,700 sf of living space. One residence offers three bedrooms and one bathroom, while the other includes two bedrooms and one bathroom.
The connected commercial space at 3614 and 3616 W. Roosevelt Rd. totals approximately 4,800 sf, including about 750 sf of offices. At 3612 W. Roosevelt Rd., approximately 4,500 sf is dedicated to warehouse and storage space beneath the apartments. The 3618 W. Roosevelt Rd. parcel is largely paved and provides approximately 2,600 sf for loading activity and truck parking, along with a small covered loading dock. The property is zoned COMMR, features brick construction, and dates to 1915.
The connected commercial space at 3614 and 3616 W. Roosevelt Rd. totals approximately 4,800 sf, including about 750 sf of offices. At 3612 W. Roosevelt Rd., approximately 4,500 sf is dedicated to warehouse and storage space beneath the apartments. The 3618 W. Roosevelt Rd. parcel is largely paved and provides approximately 2,600 sf for loading activity and truck parking, along with a small covered loading dock. The property is zoned COMMR, features brick construction, and dates to 1915.
Key Highlights
- Four‑address Roosevelt Road assemblage totaling approximately 0.2738 acres
- Approximately 9,300 sf of combined office and warehouse space
- Two renovated apartments totaling approximately 2,700 sf
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,444
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,408,880
$1.4M
Cap Rate 7%
$1,006,343
$1.0M
Cap Rate 9%
$782,711
$782.7K
Market Conditions
NOI Build-Up for 9,300 SF
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.
Gross rent
$87.7K $9.43/SF
− Vacancy
−$4.8K −$0.52/SF
EGI
$82.9K $8.91/SF
− OpEx
−$12.4K −$1.34/SF
NOI
$70.4K $7.57/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$9.43 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,408,880
Cap Rate 7%
$1,006,343
Cap Rate 9%
$782,711
Alternative Uses
Best Use
Office B
$2.85M
$2.49M – $3.33M
NOI $199,541 @ 7.0% cap · market cap 24.97%
Second Best
Mixed Use
$2.24M
$1.96M – $2.62M
NOI $156,938 @ 7.0% cap · market cap 19.64%
Theoretical Best
Office A
$4.38M
$3.84M – $5.12M
NOI $306,945 @ 7.0% cap · market cap 38.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
980
Businesses Nearby
Explore this area
Business Placement
Demographics for 60624, IL
37,547
Population
16,250
Households
2.3
Avg Household Size
34
Median Age
13%
College-Educated
77%
High-School Grad
3.5 sq mi
ZIP Area
10,728
Density / Sq Mi
$32,607
Median Household Income
$30,924
Median Earnings
$1,152
Median Rent
$223,200
Median Home Value
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Market
Vacancy Rate% for Office in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-address commercial property combines warehouse, office, paved loading space, and renovated residential units.
Where is this mixed-use property located?
The property is located at 3612 W Roosevelt Road Chicago, IL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Four‑address Roosevelt Road assemblage totaling approximately 0.2738 acres; Approximately 9,300 sf of combined office and warehouse space; Two renovated apartments totaling approximately 2,700 sf
