Mixed-Use Property
New
For Sale
$1,350,000
4445-4447 N Broadway Street, Chicago, IL 60640
Two adjacent buildings combine retail, restaurant, and residential space with separate building systems and one parking space.
Property Size5,146 SF
Lot Size0.12 Acres
Price / SF$262.34
Days on Market2
Property Features for 4445-4447 N Broadway Street
General Information
Standard status
Active
Size
5,146 SF
Total Parking Spaces
1
Lot size
0.12 Acres
Property subtype
Commercial
Zoning
COMMR
Occupancy
100%
Property Condition
Severity
Minor
Evidence
awaits your personal updates and improvements
Taxes and HOA fees
Annual Taxes
$31,848
Building Details
Building Size
5,146 SF
Year Built
1909
Buildings
2
Stories
3
Units
4
Tenancy
Multi
Listing Agency:
Real People Realty
(815) 469-7449
Listed By:
Ryan Luu · License #471022102
(815) 469-7449
Source:
Gia-sells
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 2:28AM
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.
This mixed-use offering comprises two adjacent buildings at 4445-4447 N Broadway Street. The 3,846-square-foot building at 4445 includes a remodeled street-level pawn shop and two three-bedroom apartments. One apartment has 1.5 bathrooms and recent remodeling; the other has one full bathroom. The residences include in-unit laundry, shared rear rooftop access, separate furnaces, electrical panels, and gas service, along with an unfinished basement. The neighboring building houses a long-term restaurant tenant with an open dining area, unfinished basement, and independent heating, electrical, and gas systems. The properties occupy 2,450-square-foot and 2,575-square-foot lots, with one parking space included at 4447. Built in 1909 and zoned COMMR, the portfolio is positioned near CTA Red Line and bus service, shopping, restaurants, grocery stores, Lake Michigan, parks, beaches, hospitals, and schools.
Key Highlights
- Two adjacent mixed‑use buildings at 4445‑4447 N Broadway Street
- 3,846 sq. ft. building with street‑level pawn shop and two 3‑bedroom apartments
- Residential units include in‑unit laundry, shared rear rooftop, and separate furnaces, electric panels, and gas service
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
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,531
Businesses Nearby
148k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 39%
Dining 28%
Groceries 26%
Home Improvements & Furnishings 7%
Mariano's
Groceries
38,415 visits/mo
0.4 miles
McDonald's
Dining
27,614 visits/mo
0.3 miles
BP
Shops & Services
17,307 visits/mo
0.3 miles
Citibank
Shops & Services
12,016 visits/mo
0.1 miles
Shell
Shops & Services
8,883 visits/mo
0.1 miles
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 Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two adjacent buildings combine retail, restaurant, and residential space with separate building systems and one parking space.
Where is this mixed-use property located?
The property is located at 4445-4447 N Broadway Street 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; 3,846 sq. ft. building with street‑level pawn shop and two 3‑bedroom apartments; Residential units include in‑unit laundry, shared rear rooftop, and separate furnaces, electric panels, and gas service
