Two-Story Mixed-Use Restaurant
4231 South Archer Avenue Chicago, IL 60632
4231 South Archer Avenue, Chicago, IL, 60632
$519,000
For Sale
$519,000
Restaurant operation on the first floor with second-floor office potential, including multiple separate tenant spaces.
Property Size3,400 SF
Price / SF$152.65
Days on Market345
Property Features for 4231 South Archer Avenue
General Information
- Standard status
- Active
- Size
- 3,400 SF
Building Details
- Year Built
- 1922
Listing agency
ARNI Realty Incorporated
(224) 659-2000
Listed by
Angel Rivera · License #475154918
(224) 659-2000
Source
Compass
Added: Aug 12, 2025 Updated: Jul 21 at 7:25PM Checked: Jul 22 at 6:24AM
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 ARNI Realty Incorporated
Investment Insights
Based on property information with market context.
This two-story commercial property is currently operated as a restaurant on the first floor. The second floor is configured with space that could be divided into multiple offices, with a current small tenant renting a space for a different use.
The building is located in the heart of the Brighton Park shopping district on Archer Avenue, where the neighborhood is seeing upgrades and improvements. The property is being sold as-is.
As presented, the second floor offers a straightforward multi-tenant layout concept with room for several occupants under a separated office setup, supporting flexible leasing options alongside the existing first-floor restaurant use.
The building is located in the heart of the Brighton Park shopping district on Archer Avenue, where the neighborhood is seeing upgrades and improvements. The property is being sold as-is.
As presented, the second floor offers a straightforward multi-tenant layout concept with room for several occupants under a separated office setup, supporting flexible leasing options alongside the existing first-floor restaurant use.
Key Highlights
- Two‑story commercial building built in 1922
- First floor is currently operating as a restaurant
- Second floor offers office potential and could be divided into multiple office spaces
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $65.3k | $19.20 |
| − Vacancy | −$4.6k | −$1.34 |
| EGI | $60.7k | $17.86 |
| − OpEx | −$15.2k | −$4.46 |
| NOI | $45.5k | $13.39 |
3,400 SF · lease $19.20/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.07M
$936.7K – $1.25M
NOI $74,939 @ 7.0% cap · market cap 14.44%
Second Best
Specialty Retail
$650.5K
$569.2K – $758.9K
NOI $45,533 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,735 @ 7.0% cap · market cap 20.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Huaraches Mexican Restaurant
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Restaurant operation on the first floor with second-floor office potential, including multiple separate tenant spaces.
Where is this conventional restaurant located?
The property is located at 4231 South Archer Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: Two‑story commercial building built in 1922; First floor is currently operating as a restaurant; Second floor offers office potential and could be divided into multiple office spaces
