Two-Story Mixed-Use
For Sale
Contact for pricing
3810-12 W Lawrence Ave., Chicago, IL 60618
Ground-floor commercial suites pair retail areas with warehouse space and overhead doors for indoor parking.
Property Size10,000 SF
Price / SF$79.90
Days on Market78
Property Features for 3810-12 W Lawrence Ave.
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Mixed Use
Zoning
B1-2
Investment Type
Value Add
Net Operating Income
$16,629
Amenities
overhead door
indoor parking
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Millennium Properties R/E
Listed By:
Susan Silver · License #IL 475136992
(312) 338-3000
Source:
Crexi
Added: Jun 17
Changed: Aug 31
Last Checked: Aug 31 at 12:47AM
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 Millennium Properties R/E
Investment Insights
Based on property information with market context.
This two-story mixed-use property contains 10,000 square feet with a divided ground floor configured as two separate units. Each unit combines retail and warehouse areas with an overhead door that provides indoor parking access. The partially updated upper level is positioned for office use or potential residential conversion.
The property fronts Lawrence Avenue in Chicago’s Albany Park neighborhood and carries B1-2 zoning. Its placement along a commercial thoroughfare includes pedestrian activity and frontage suitable for a range of commercial or redevelopment considerations. The address is 3810-3812 W. Lawrence Ave., Chicago, IL 60618.
The property fronts Lawrence Avenue in Chicago’s Albany Park neighborhood and carries B1-2 zoning. Its placement along a commercial thoroughfare includes pedestrian activity and frontage suitable for a range of commercial or redevelopment considerations. The address is 3810-3812 W. Lawrence Ave., Chicago, IL 60618.
Key Highlights
- 10,000‑square‑foot, two‑story mixed‑use property
- Ground floor divided into 2 retail/warehouse units
- Each unit includes an overhead door for indoor parking
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
$51,720
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
6.47%
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%
$1,034,400
$1.0M
Cap Rate 7%
$738,857
$738.9K
Cap Rate 9%
$574,667
$574.7K
Market Conditions
NOI Build-Up for 10,000 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
$64.8K $6.48/SF
− Vacancy
−$4.0K −$0.40/SF
EGI
$60.8K $6.08/SF
− OpEx
−$9.1K −$0.91/SF
NOI
$51.7K $5.17/SF
Area
ZIP 60618
Vacancy
6.10%
Lease Rate
$6.48 /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%
$1,034,400
Cap Rate 7%
$738,857
Cap Rate 9%
$574,667
Alternative Uses
Best Use
Office B
$3.17M
$2.77M – $3.69M
NOI $221,586 @ 7.0% cap · market cap 27.73%
Second Best
Mixed Use
$2.41M
$2.11M – $2.81M
NOI $168,750 @ 7.0% cap · market cap 21.12%
Theoretical Best
Office A
$4.37M
$3.82M – $5.10M
NOI $305,844 @ 7.0% cap · market cap 38.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,978
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 Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial suites pair retail areas with warehouse space and overhead doors for indoor parking.
Where is this mixed-use property located?
The property is located at 3810-12 W Lawrence Ave. 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: 10,000‑square‑foot, two‑story mixed‑use property; Ground floor divided into 2 retail/warehouse units; Each unit includes an overhead door for indoor parking
