Mixed-Use Building with Apartment
For Sale
$1,379,900
4425 Harlem Avenue, Berwyn, IL 60402
Flexicore construction combines residential apartments, office suites, and separately metered residential units.
Property Size10,873 SF
Price / SF$126.91
Days on Market216
Property Features for 4425 Harlem Avenue
General Information
Standard status
Active
Size
10,873 SF
Total Parking Spaces
14
Zoning
COMMR
Net Operating Income
$91,801
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$24,419
Amenities
heated two-car garage
on-site management office
master key entry system
common area restrooms
pylon sign
Building Details
Year Built
1961
Buildings
1
Stories
2
Construction
flexicore
Listing Agency:
Midwest SignatureProperties Co
(708) 712-1632
Listed By:
Emmanuel Nevarez · License #471022885
(708) 712-1632
Source:
Compass
Added: Jan 26
Changed: Aug 30
Last Checked: Aug 30 at 6:33AM
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 Midwest SignatureProperties Co
Investment Insights
Based on property information with market context.
Built in 1961, this 10,873-square-foot mixed-use property contains 11 units, including six one-bedroom, one-bath apartments and office suites. The residential units are separately metered and have individual HVAC systems, water heaters, and rooftop A/C units. One apartment has been renovated with in-unit laundry, stainless steel appliances, white shaker cabinets, granite countertops, vinyl plank flooring, and an updated bathroom. Other apartments feature carpet or tile flooring, laminate countertops, and white cabinetry.
Capital improvements include a new tear-off roof, gutters, soffits, fascia, rooftop A/C units, exterior staircases, and a fire sprinkler system. The property also includes a heated two-car garage, management office, common-area restrooms, master key entry, 14 dedicated parking spaces, and a pylon sign. Residential occupants pay their own heat and electricity. A tenant in the building intends to remain for the foreseeable future. The property is zoned COMMR and is located at 4425 Harlem Avenue in Berwyn, Illinois.
Capital improvements include a new tear-off roof, gutters, soffits, fascia, rooftop A/C units, exterior staircases, and a fire sprinkler system. The property also includes a heated two-car garage, management office, common-area restrooms, master key entry, 14 dedicated parking spaces, and a pylon sign. Residential occupants pay their own heat and electricity. A tenant in the building intends to remain for the foreseeable future. The property is zoned COMMR and is located at 4425 Harlem Avenue in Berwyn, Illinois.
Key Highlights
- 11‑unit mixed‑use building with six one‑bedroom, one‑bath apartments and office suites
- 10,873‑square‑foot building constructed in 1961
- Residential units are separately metered with individual HVAC systems and water heaters
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
$126,136
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
9.14%
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%
$2,522,720
$2.5M
Cap Rate 7%
$1,801,943
$1.8M
Cap Rate 9%
$1,401,511
$1.4M
Market Conditions
NOI Build-Up for 10,873 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
$246.6K $22.68/SF
− Vacancy
−$17.3K −$1.59/SF
EGI
$229.3K $21.09/SF
− OpEx
−$103.2K −$9.49/SF
NOI
$126.1K $11.60/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
45.00%
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%
$2,522,720
Cap Rate 7%
$1,801,943
Cap Rate 9%
$1,401,511
Alternative Uses
Best Use
Mixed Use
$2.62M
$2.29M – $3.06M
NOI $183,482 @ 7.0% cap · market cap 13.30%
Second Best
Office B
$2.14M
$1.87M – $2.50M
NOI $149,921 @ 7.0% cap · market cap 10.86%
Theoretical Best
Office A
$3.75M
$3.28M – $4.38M
NOI $262,777 @ 7.0% cap · market cap 19.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
Explore this area
Business Placement
Demographics for 60402, IL
64,706
Population
25,111
Households
2.6
Avg Household Size
37
Median Age
25%
College-Educated
85%
High-School Grad
5.7 sq mi
ZIP Area
11,352
Density / Sq Mi
$73,993
Median Household Income
$42,802
Median Earnings
$1,168
Median Rent
$277,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexicore construction combines residential apartments, office suites, and separately metered residential units.
Where is this mixed-use property located?
The property is located at 4425 Harlem Avenue Berwyn, IL.
What is the asking price?
The asking price for this property is $1,379,900.
What are key features of this property?
This property features: 11‑unit mixed‑use building with six one‑bedroom, one‑bath apartments and office suites; 10,873‑square‑foot building constructed in 1961; Residential units are separately metered with individual HVAC systems and water heaters
