Mixed-Use Commercial
New
For Sale
$849,000
4138 N Sheridan Road, Chicago, IL 60613
A vacant retail unit sits within a four-unit commercial condominium alongside a dance studio, hair salon, and dental office.
Property Size4,320 SF
Price / SF$196.53
Days on Market5
Property Features for 4138 N Sheridan Road
General Information
Standard status
Active
Size
4,320 SF
Property subtype
COMMERCIAL
Site & Location
Neighborhood
Buena Park
Highway Access
Yes
Public Transit
Yes
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$24,595
Building Details
Building Size
4,320 SF
Year Built
1910
Tenancy
Multi
Listing Agency:
@properties Commercial
Listed By:
Ian Feinerman · License #475124617
(773) 802-2543
Source:
Cnetproperties
Added: Nov 2
Changed: Nov 4
Last Checked: Nov 4 at 2:53PM
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
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Investment Insights
Based on property information with market context.
The 4,320-square-foot commercial condominium contains four units and was built in 1910. One 1,020-square-foot retail space is vacant. The other occupants are a dance studio, hair salon, and dental office, each described as a long-term tenant. The vacant unit may accommodate office, retail, gallery, or service use; restaurant and cafe uses are excluded.
The property is at 4138 N Sheridan Road in Chicago. Multiple train stations, Lake Shore Drive access, bus stops, and Divvy stations are within one or two blocks. Nearby area businesses include Target, Walgreens, Jewel, North Buena Deli, and Star of Siam.
The property is at 4138 N Sheridan Road in Chicago. Multiple train stations, Lake Shore Drive access, bus stops, and Divvy stations are within one or two blocks. Nearby area businesses include Target, Walgreens, Jewel, North Buena Deli, and Star of Siam.
Key Highlights
- 4,320‑square‑foot, four‑unit commercial condominium built in 1910
- 1,020‑square‑foot vacant retail unit
- Existing occupants include a dance studio, hair salon, and dental office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,900
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,458,000
$1.5M
Cap Rate 7%
$1,041,429
$1.0M
Cap Rate 9%
$810,000
$810.0K
Market Conditions
NOI Build-Up for 4,320 SF
Gross rent
$129.6K $30.00/SF
− Vacancy
−$13.0K −$3.00/SF
EGI
$116.6K $27.00/SF
− OpEx
−$43.7K −$10.13/SF
NOI
$72.9K $16.88/SF
Area
Chicago, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,458,000
Cap Rate 7%
$1,041,429
Cap Rate 9%
$810,000
Alternative Uses
Best Use
Mixed Use
$1.04M
$911.3K – $1.22M
NOI $72,900 @ 7.0% cap · market cap 8.59%
Second Best
Retail
$853.8K
$747.1K – $996.1K
NOI $59,766 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,581 @ 7.0% cap · market cap 16.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,612
Businesses Nearby
120k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Groceries 27%
Dining 7%
Home Improvements & Furnishings 4%
Aldi
Groceries
32,487 visits/mo
0.4 miles
BP
Shops & Services
32,347 visits/mo
0.4 miles
Dollar Tree
Shops & Services
18,696 visits/mo
0.4 miles
Dunkin' Donuts
Dining
7,190 visits/mo
0.4 miles
BP
Shops & Services
6,740 visits/mo
0.4 miles
Demographics for 60613, IL
53,048
Population
31,263
Households
1.7
Avg Household Size
34
Median Age
75%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
23,064
Density / Sq Mi
$91,351
Median Household Income
$68,713
Median Earnings
$1,616
Median Rent
$397,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Chicago, IL
Frequently Asked Questions
What type of property is this?
Mixed-use property - A vacant retail unit sits within a four-unit commercial condominium alongside a dance studio, hair salon, and dental office.
Where is this mixed-use property located?
The property is located at 4138 N Sheridan Road Chicago, IL.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 4,320‑square‑foot, four‑unit commercial condominium built in 1910; 1,020‑square‑foot vacant retail unit; Existing occupants include a dance studio, hair salon, and dental office
