Maywood Mixed-Use Commercial
409 Lake Street, Maywood, IL 60153
Mixed-use building with development potential in Maywood shopping district.
Type:Commercial/Industrial
Property size:
2,000 SFLot size:
0.21 AcresPrice / SF:
$310/SF- Added:
- Mar 12, 2026
- Days on Market:
- 72
- Last Refresh:
- Apr 5 at 8:24 pm
Property Features for 409 Lake Street
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Lot size
- 0.21 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1960
Listing agent Michael Levin License #475123263
Listing office @properties Commercial (312) 506-0200
Listing date Mar 12, 2026
Source Exitrealty
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 @properties Commercial
HighLights
- Mixed‑use building with existing income streams from a tire shop and two residential units.
- Large 9,012.90 SQ FT lot with additional land for potential commercial development.
- C‑2 zoning allows for pedestrian‑oriented commercial use in a vibrant shopping district.
- High traffic location with 9,400 vehicles passing daily.
- Ample parking with a paved side and rear‑drive loading area for 20‑plus cars.
- Walking distance to the Maywood Metra stop and close to area expressways.
Overview
The commercial mixed-use building at 401-409 Lake Street in Maywood features masonry construction. The building is approximately 2,000 square feet and sits on a 9,012.90 square foot lot. The property includes a three-story mixed-use building, a parking lot, and a small, approximately 600 square foot brick commercial building, with additional land available for potential commercial development. The first floor features a retail showroom currently built out as a tire repair shop, and there are two residential units. A paved side and rear drive provides loading access and parking for over 20 cars. The tire shop has a 10-year lease and pays $1,000 per month. The second-floor apartment is a two-bedroom, one-bath unit with a lease that started September 1, 2022, at $1,150 per month. The third-floor one-bedroom, one-bath tenant pays $850 per month. Zoned C-2 Pedestrian-Oriented Commercial, the property is within walking distance of the Maywood Metra stop and close to area expressways. This property offers an opportunity for investors, developers, or end-users to acquire a mixed-use building in the Maywood shopping district neighborhood. Approximately 9,400 vehicles pass the location daily. It is located just east of the intersection of 5th and Lake Street. Area retailers and restaurants include Walgreens, Taqueria El Duranguito, Maywood Express, Legends Grill and Music venue, and Panaderia Puebla.
Financial Insights
Value Estimation Calculated for Mixed Use
Conservative
$375.0K
NOI $33,750 @ 9.00% cap · cautious / downside scenario
Moderate
$482.1K
NOI $33,750 @ 7.00% cap · market / base-case scenario
Aggressive
$675.0K
NOI $33,750 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Mixed Use
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.0k | $30.00 |
| − Vacancy | −$6.0k | −$3.00 |
| EGI | $54.0k | $27.00 |
| − OpEx | −$20.3k | −$10.13 |
| NOI | $33.8k | $16.88 |
2,000 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Use Scenarios
Best Use
Mixed Use
$482.1K
$421.9K – $562.5K
NOI $33,750 @ 7.0% cap · market cap 5.44%
Second Best
Retail
$396.6K
$347.0K – $462.7K
NOI $27,760 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$690.5K
$604.2K – $805.6K
NOI $48,336 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Maywood Tire Shop ...
Auto Parts Store
Location Insight
- Map
- Local Demand
- City
- Maywood
- County
- Cook
- State
- Illinois
- Longitude
- -87.8386
- Latitude
- 41.8897
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use building with development potential in Maywood shopping district.
Where is this mixed-use property located?
The property is located at 409 Lake Street Maywood, IL.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Mixed‑use building with existing income streams from a tire shop and two residential units.; Large 9,012.90 SQ FT lot with additional land for potential commercial development.; C‑2 zoning allows for pedestrian‑oriented commercial use in a vibrant shopping district.
