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    Mixed-Use Corner Property with Event Hall Title is generated by Realmo AI

    3935 South Kedzie Avenue, Chicago, IL 60632

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    For Sale
    $230,000

    Mixed-use corner building with a main-level event venue and income-producing SRO units, sold as-is with violations.

    Property size:
    5,625 SF
    Price / SF:
    $40/SF
    Added:
    May 23, 2026
    Days on Market:
    15
    Last Refresh:
    Jun 6 at 5:44 am

    Property Features for 3935 South Kedzie Avenue

    General Information

    Standard status
    Active
    Size
    5,625 SF

    Building Details

    Year Built
    1916

    We can help!

    Listing Contact
    Laquan Henley

    Listing agent Laquan Henley License #475173033

    Listing office Keller Williams ONEChicago

    Listing date May 23, 2026

    Source Compass

    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 Keller Williams ONEChicago

    HighLights

    • Mixed‑use corner building in Brighton Park with main‑level banquet hall/event venue and separate SRO income units
    • Year built 1916; second level includes seven fully occupied SRO units plus a shared kitchen and two additional bathrooms
    • Main level features kitchen area and two bathrooms for event attendees and guests
    • Basement includes substantial storage and utility areas; rear has a garage and additional parking spaces
    • Sold as‑is; municipal/building violations are the buyer’s responsibility to investigate and address after closing
    • Court‑appointed receiver; cash offers preferred in a receiver‑appointed sale

    Overview

    This mixed-use corner property includes a spacious banquet hall/event venue on the main level, along with a kitchen area and two bathrooms for guest use. The second level is configured with seven fully occupied SRO (single room occupancy) units, supported by a shared kitchen and two additional bathrooms. A basement provides substantial storage and utility areas, and the rear of the property includes a garage and additional parking spaces.

    The property is located at 3935 S. Kedzie Ave. in Chicago’s Brighton Park area. It is being offered by a court-appointed receiver in a pre-foreclosure context, with ownership seeking a prompt sale and cash offers strongly preferred.

    The building is sold as-is, and there are municipal/building violations that the buyer will be responsible for investigating and addressing after closing. Interested parties should complete their own due diligence regarding the property’s condition, zoning, code compliance, and any outstanding requirements. The asset may be suitable for investors, developers, or experienced owner-operators looking to manage the existing event space and residential income components, or to pursue redevelopment and repositioning based on their business plan.
    Location Intelligence

    Current Use by Public Records

    ParkChicago #456118 Parking Lot & Garage

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7041565
    Latitude
    41.8215796

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use corner building with a main-level event venue and income-producing SRO units, sold as-is with violations.
    Where is this mixed-use property located?
    The property is located at 3935 South Kedzie Avenue Chicago, IL.
    What is the asking price?
    The asking price for this property is $230,000.
    What are key features of this property?
    This property features: Mixed‑use corner building in Brighton Park with main‑level banquet hall/event venue and separate SRO income units; Year built 1916; second level includes seven fully occupied SRO units plus a shared kitchen and two additional bathrooms; Main level features kitchen area and two bathrooms for event attendees and guests
    (847) 346-8168
    We can help!
    Listing Contact
    Laquan Henley
    Real Estate License ID: 475173033
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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