Mixed-Use Property with Residential
For Sale
$1,350,000
4445-4447 N Broadway St, Chicago, IL 60640
Two adjacent buildings combine street-level retail, residential apartments, and an occupied restaurant space.
Property Size5,146 SF
Lot Size0.12 Acres
Price / SF$262.34
Days on Market15
Property Features for 4445-4447 N Broadway St
General Information
Standard status
Active
Size
5,146 SF
Total Parking Spaces
1
Lot size
0.12 Acres
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1909
Buildings
2
Tenancy
Multi
Listing Agency:
Real People Realty
(708) 634-0103
Listed By:
Ryan Luu · License #471022102
Source:
Realtopiare
Added: Aug 14
Changed: Aug 27
Last Checked: Aug 25 at 5:21AM
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 Real People Realty
Investment Insights
Based on property information with market context.
The offering combines two adjacent commercial buildings at 4445-4447 N Broadway Street. The 4445 property contains approximately 3,846 square feet on a 2,450 sq. ft. lot, with a remodeled street-level pawn shop and two residential apartments above. Each apartment has 3 bedrooms; one includes 1.5 bathrooms and recent remodeling, while the other has 1 full bathroom. The residential units share a rear rooftop and each includes in-unit laundry, separate furnaces, electric panels, and gas service. An unfinished basement provides additional storage space.
The 4447 building sits on a 2,575 sq. ft. lot and includes one parking space. It is occupied by a long-term restaurant tenant and offers an open dining area, unfinished basement, central heating, and separate electric and gas service. The properties are zoned COMMR and were built in 1909. The Uptown location provides access to shopping, restaurants, grocery stores, CTA Red Line and bus service, Lake Michigan, parks, beaches, hospitals, and schools.
The 4447 building sits on a 2,575 sq. ft. lot and includes one parking space. It is occupied by a long-term restaurant tenant and offers an open dining area, unfinished basement, central heating, and separate electric and gas service. The properties are zoned COMMR and were built in 1909. The Uptown location provides access to shopping, restaurants, grocery stores, CTA Red Line and bus service, Lake Michigan, parks, beaches, hospitals, and schools.
Key Highlights
- Two adjacent mixed‑use buildings at 4445‑4447 N Broadway Street
- 4445 N Broadway includes approximately 3,846 sq. ft. on a 2,450 sq. ft. lot
- Two residential units, each with 3 bedrooms; one has 1.5 bathrooms and the other 1 full bathroom
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
$95,777
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
7.09%
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%
$1,915,540
$1.9M
Cap Rate 7%
$1,368,243
$1.4M
Cap Rate 9%
$1,064,189
$1.1M
Market Conditions
NOI Build-Up for 5,146 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
$135.9K $26.40/SF
− Vacancy
−$8.2K −$1.58/SF
EGI
$127.7K $24.82/SF
− OpEx
−$31.9K −$6.20/SF
NOI
$95.8K $18.61/SF
Area
Chicago, IL
Vacancy
6.00%
Lease Rate
$26.40 /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%
$1,915,540
Cap Rate 7%
$1,368,243
Cap Rate 9%
$1,064,189
Alternative Uses
Best Use
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $95,777 @ 7.0% cap · market cap 7.09%
Second Best
Mixed Use
$1.24M
$1.09M – $1.45M
NOI $86,839 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$2.43M
$2.12M – $2.83M
NOI $169,843 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,633
Businesses Nearby
Explore this area
Business Placement
Demographics for 60640, IL
65,941
Population
40,850
Households
1.6
Avg Household Size
38
Median Age
63%
College-Educated
92%
High-School Grad
2.4 sq mi
ZIP Area
27,475
Density / Sq Mi
$71,030
Median Household Income
$59,264
Median Earnings
$1,374
Median Rent
$363,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two adjacent buildings combine street-level retail, residential apartments, and an occupied restaurant space.
Where is this mixed-use property located?
The property is located at 4445-4447 N Broadway St Chicago, IL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Two adjacent mixed‑use buildings at 4445‑4447 N Broadway Street; 4445 N Broadway includes approximately 3,846 sq. ft. on a 2,450 sq. ft. lot; Two residential units, each with 3 bedrooms; one has 1.5 bathrooms and the other 1 full bathroom
