Mixed-Use Property with
For Sale
$600,000
4163 N Elston Ave, Chicago, IL 60618
Combines a three-bedroom apartment, storefront, warehouse space, and heated workshop with separate residential and commercial access.
Property Size3,316 SF
Price / SF$180.94
Days on Market55
Property Features for 4163 N Elston Ave
General Information
Standard status
Active
Size
3,316 SF
Additional Details
Road Access
Yes
Three-Phase Power
Yes
Building Details
Year Built
1935
Listing Agency:
Coldwell Banker Realty
Listed By:
Bud Caruso · License #475094743
(708) 672-9500
Source:
Amyboston.realtopiare
Added: Aug 26
Changed: Oct 2
Last Checked: Oct 19 at 11:58AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This mixed-use property combines a three-bedroom apartment with commercial space configured for a storefront, warehouse area, and heated workshop. The 1,500-square-foot apartment includes a large kitchen, dining room, living room, family room, in-unit laundry, central heat and air, and sliding-door access to a rooftop deck. Three-phase electrical service supports a range of equipment, while a garage furnace and dedicated commercial entry add functionality to the business area.
Residential access is provided from Elston Avenue, with the rear shop entrance located on Hamlin Avenue rather than an alley. Capital improvements include a 2015 furnace and air-conditioning system, windows updated in 2013 and 2017, bathroom renovations completed in 2013 and 2018, a 2014 kitchen remodel, a 2016 water heater, hardwired business-area exit signs installed in 2022, a second-floor air conditioner replaced in 2022, 2023 tuck pointing, a 2023 garage furnace, a 2025 sump pump, and roof service in 2023/2026.
Residential access is provided from Elston Avenue, with the rear shop entrance located on Hamlin Avenue rather than an alley. Capital improvements include a 2015 furnace and air-conditioning system, windows updated in 2013 and 2017, bathroom renovations completed in 2013 and 2018, a 2014 kitchen remodel, a 2016 water heater, hardwired business-area exit signs installed in 2022, a second-floor air conditioner replaced in 2022, 2023 tuck pointing, a 2023 garage furnace, a 2025 sump pump, and roof service in 2023/2026.
Key Highlights
- 1,500‑square‑foot three‑bedroom apartment with in‑unit laundry and central heat/air
- Commercial area includes storefront, warehouse space, and heated workshop
- Three‑phase electrical service for equipment use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,917
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$698,340
$698.3K
Cap Rate 7%
$498,814
$498.8K
Cap Rate 9%
$387,967
$388.0K
Market Conditions
NOI Build-Up for 3,316 SF
Gross rent
$59.7K $18.00/SF
− Vacancy
−$6.0K −$1.80/SF
EGI
$53.7K $16.20/SF
− OpEx
−$18.8K −$5.67/SF
NOI
$34.9K $10.53/SF
Area
ZIP 60618
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$698,340
Cap Rate 7%
$498,814
Cap Rate 9%
$387,967
Alternative Uses
Best Use
Office B
$1.05M
$918.5K – $1.22M
NOI $73,478 @ 7.0% cap · market cap 12.25%
Second Best
Mixed Use
$799.4K
$699.5K – $932.6K
NOI $55,958 @ 7.0% cap · market cap 9.33%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,418 @ 7.0% cap · market cap 16.90%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,973
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Chicago, IL
Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines a three-bedroom apartment, storefront, warehouse space, and heated workshop with separate residential and commercial access.
Where is this mixed-use property located?
The property is located at 4163 N Elston Ave Chicago, IL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 1,500‑square‑foot three‑bedroom apartment with in‑unit laundry and central heat/air; Commercial area includes storefront, warehouse space, and heated workshop; Three‑phase electrical service for equipment use
