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Mixed-Use Brick Building with Retail

4369 N Elston Avenue Chicago, IL 60641

4369 N Elston Avenue, Chicago, IL, 60641
$799,000
For Sale
Claim this Listing
$799,000

Commercial Sale, Other - Chicago, IL

Property Size5,000 SF
Lot Size2,950.00 Acres
Price / SF$159.80
AddedJun 12
Days on Market34
Last RefreshJul 15 at 12:06 pm

Property Features for 4369 N Elston Avenue

General Information

Property type
Commercial Sale
Property subtype
Mixed Use
Standard status
Active
APN
13154050130000
Lot size
2,950.00 Acres

Utilities

Cooling system
Central Air

Building Details

Year built
1924
Roof type
Tar/Gravel
Architectural style
Other

Listing agent Jazmyne Zasanski

Listing office Engel & Völkers Chicago 2401 N Clark Street, Chicago, IL

Listing date Jun 12, 2026

MLS# 12571331 Listing URL

Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.


Investment Insights

Based on property information with market context.

This mixed-use brick building offers a ground-floor commercial unit and two updated apartment units on the second floor. The ground-floor space includes expansive windows and two commercial-grade restrooms, and it is set up for a range of commercial uses. Upstairs features two 2-bedroom, 1-bath apartments, with one unit occupied on a month-to-month basis and the other vacant. Each apartment includes in-unit side-by-side washer and dryer, central AC, separate water heaters, and hardwood floors with modern finishes.

Located in the Irving Park/Old Irving Park area at 4369 N Elston Avenue, the property is positioned for access to public transit, with proximity to the Montrose Blue Line. The listing also notes minutes to the I-90/94 interchange.

Recent upgrades include new windows, water heater replacement, and washer/dryer updates. The units have fully separated utilities, supporting reduced owner overhead.

Key Highlights

  • Prime location in Irving Park/Old Irving Park with high visibility and strong foot traffic.
  • B3‑2 zoning offers redevelopment flexibility and a wide range of commercial uses.
  • Strong income potential from ground‑floor commercial space and two updated apartments.

Local Financial Insights For 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 $108.0k $21.60
− Vacancy −$9.2k −$1.84
EGI $98.8k $19.76
− OpEx −$29.6k −$5.93
NOI $69.2k $13.83
5,000 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%

Alternative Uses

Best Use
Specialty Retail
$1.33M
$1.16M – $1.55M (±1% cap)
NOI $93,060 @ 7.0% cap · market cap 11.65%
Second Best
Mixed Use
$1.21M
$1.05M – $1.41M (±1% cap)
NOI $84,375 @ 7.0% cap · market cap 10.56%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M (±1% cap)
NOI $165,024 @ 7.0% cap · market cap 20.65%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Location Intelligence

Current Use by Public Records

Hock Shop Bar & Pub

Suggested Use

(Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Nursing Home Nursing Home Skin Care Clinic Bed & Breakfast Tanning Salon (Bike/Boat/Book/etc) Store Butcher (Bike/Boat/Book/etc) Store

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Mixed-use property - Five thousand-plus square foot brick mixed-use building with a ground-floor commercial space and two second-floor apartments.
Where is this mixed-use property located?
The property is located at 4369 N Elston Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Prime location in Irving Park/Old Irving Park with high visibility and strong foot traffic.; B3‑2 zoning offers redevelopment flexibility and a wide range of commercial uses.; Strong income potential from ground‑floor commercial space and two updated apartments.
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