Mixed-Use Brick Apartment
3742 West Montrose Avenue Chicago, IL 60618
3742 West Montrose Avenue, Chicago, IL, 60618
$900,000
For Sale
$900,000
Masonry brick 9-unit building with street-level retail, zoned B3-1 and including on-site laundry and a 2-car garage.
Property Size3,125 SF
Price / SF$288
Days on Market170
Property Features for 3742 West Montrose Avenue
General Information
- Standard status
- Active
- Size
- 3,125 SF
Building Details
- Year Built
- 1919
Listing agency
Triton Realty Group LLC
(773) 610-9054
Listed by
Lukasz Wojcik · License #475139979
(773) 610-9054
Source
Compass
Added: Feb 2 Updated: Jul 22 at 3:43PM Checked: Jul 22 at 3:43PM
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 Triton Realty Group LLC
Investment Insights
Based on property information with market context.
This mixed-use masonry brick building includes eight residential apartment units and one street-level retail unit. Built in 1919, the property is equipped with electric space heaters, building-owned common-area laundry, and a 200-amp electrical service with panels located in the basement. Operating expenses are structured with owner-paid electric and water, while tenants pay gas. The building also includes a 2-car garage.
The property is zoned B3-1 and is located within the Northwest ADU Pilot Zone. It sits on West Montrose Avenue and was sold as-is.
Recent capital improvements were completed in 2023, including roof, masonry, and window renovations.
The property is zoned B3-1 and is located within the Northwest ADU Pilot Zone. It sits on West Montrose Avenue and was sold as-is.
Recent capital improvements were completed in 2023, including roof, masonry, and window renovations.
Key Highlights
- Masonry brick 9‑unit mixed‑use building with 8 residential apartments plus 1 street‑level retail unit
- Zoned B3‑1 and located within the Northwest ADU Pilot Zone
- Building‑owned common‑area laundry and a 2‑car garage
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 | $93.8k | $30.00 |
| − Vacancy | −$9.4k | −$3.00 |
| EGI | $84.4k | $27.00 |
| − OpEx | −$31.6k | −$10.13 |
| NOI | $52.7k | $16.88 |
3,125 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$753.3K
$659.2K – $878.9K
NOI $52,734 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$646.7K
$565.9K – $754.5K
NOI $45,269 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$1.37M
$1.19M – $1.59M
NOI $95,576 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Los tacos express
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Masonry brick 9-unit building with street-level retail, zoned B3-1 and including on-site laundry and a 2-car garage.
Where is this apartment building located?
The property is located at 3742 West Montrose Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Masonry brick 9‑unit mixed‑use building with 8 residential apartments plus 1 street‑level retail unit; Zoned B3‑1 and located within the Northwest ADU Pilot Zone; Building‑owned common‑area laundry and a 2‑car garage
