Mixed-Use Brick Apartment
For Sale
$900,000
3742 West Montrose Avenue, Chicago, IL 60618
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 Market179
Property Features for 3742 West Montrose Avenue
General Information
Standard status
Active
Size
3,125 SF
Total Parking Spaces
2
Zoning
B3-1
Additional Details
Road Access
Yes
Multifamily Units
8
Amenities
common-area laundry
Building Details
Year Built
1919
Year Renovated
2023
Construction
masonry brick
Tenancy
Multi
Listing Agency:
Triton Realty Group LLC
(773) 610-9054
Listed By:
Lukasz Wojcik · License #475139979
(773) 610-9054
Source:
Compass
Added: Feb 2
Changed: Jul 22
Last Checked: Jul 24 at 2:06PM
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
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 authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,729
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
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
