Live-Work Home with Dental
For Sale
Contact for pricing
4212 Joliet Avenue, Lyons, IL 60534
Residential main level with 3 bedrooms plus a fully built-out second-floor dental office.
Property Size3,235 SF
Price / SF$160.74
Days on Market61
Property Features for 4212 Joliet Avenue
General Information
Standard status
Active
Size
3,235 SF
Class
A
Property subtype
Mixed Use
Building Details
Year Built
1940
Stories
2
Units
2
Listing Agency:
SPACE FINDER INC
Listed By:
Carlos Alers · License #IL 471020318
(312) 678-4000
Source:
Crexi
Added: Jul 7
Changed: Aug 26
Last Checked: Aug 31 at 3:52PM
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 SPACE FINDER INC
Investment Insights
Based on property information with market context.
This live-work property combines comfortable residential living with a fully built-out second-floor dental office. The main level includes 3 bedrooms, an oversized living room, a generous dining area, a kitchen, a detached garage, and expansive private patio space. A clean, spacious basement with laundry offers additional flexibility for storage, recreation, or workspace.
Upstairs, the current dental practice layout is designed for professional office use, with multiple exam rooms, offices, reception, and sitting areas. The listing notes that all measurements are estimated and that buyers should verify zoning, permitted use, dimensions, and all property information.
Located at 4212 Joliet Avenue in Lyons, IL, this configuration supports a range of live-work and business uses based on the existing residential and office improvements.
Upstairs, the current dental practice layout is designed for professional office use, with multiple exam rooms, offices, reception, and sitting areas. The listing notes that all measurements are estimated and that buyers should verify zoning, permitted use, dimensions, and all property information.
Located at 4212 Joliet Avenue in Lyons, IL, this configuration supports a range of live-work and business uses based on the existing residential and office improvements.
Key Highlights
- Home built in 1940 with 3 bedrooms on the main level
- Second‑floor is fully built out as a dental office with multiple exam rooms, offices, reception, and sitting areas
- Detached garage plus expansive private patio space on the main level
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
$44,605
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
8.58%
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%
$892,100
$892.1K
Cap Rate 7%
$637,214
$637.2K
Cap Rate 9%
$495,611
$495.6K
Market Conditions
NOI Build-Up for 3,235 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
$79.2K $24.48/SF
− Vacancy
−$19.7K −$6.10/SF
EGI
$59.5K $18.38/SF
− OpEx
−$14.9K −$4.60/SF
NOI
$44.6K $13.79/SF
Area
Cook County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
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%
$892,100
Cap Rate 7%
$637,214
Cap Rate 9%
$495,611
Alternative Uses
Best Use
Mixed Use
$779.9K
$682.4K – $909.9K
NOI $54,591 @ 7.0% cap · market cap 10.50%
Second Best
Office B
$637.2K
$557.6K – $743.4K
NOI $44,605 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$1.12M
$977.3K – $1.30M
NOI $78,183 @ 7.0% cap · market cap 15.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 60534, IL
10,749
Population
4,461
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
83%
High-School Grad
1.9 sq mi
ZIP Area
5,657
Density / Sq Mi
$63,827
Median Household Income
$41,328
Median Earnings
$1,149
Median Rent
$243,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Residential main level with 3 bedrooms plus a fully built-out second-floor dental office.
Where is this live-work space located?
The property is located at 4212 Joliet Avenue Lyons, IL.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Home built in 1940 with 3 bedrooms on the main level; Second‑floor is fully built out as a dental office with multiple exam rooms, offices, reception, and sitting areas; Detached garage plus expansive private patio space on the main level
