Mixed-Use Retail and Apartment
4507 North Clark Street Chicago, IL 60640
For Sale
Contact for pricing
A four-unit mixed-use building with retail space on the ground level and two apartments above.
Property Size6,000 SF
Price / SF$158.33
Days on Market9
Property Features for 4507 North Clark Street
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Property subtype
- Land, Mixed Use
Listing Agency:
Chicago Real Estate Resources Inc
(847) 863-2707
Listed By:
Steven Rapoport, CCIM · License #IL 471006648
Source:
Crexi
Added: Jul 15
Changed: Jul 23
Last Checked: Jul 23 at 5:29AM
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 Chicago Real Estate Resources Inc
Investment Insights
Based on property information with market context.
This four-unit mixed-use property includes approximately 8,000 square feet of total building area. The building features about 2,700 square feet of retail space with two apartments on the upper level, each approximately 1,250 square feet.
The site is presented as transit-oriented and is positioned in Sheridan Park, with convenient access to the Ravenwood Metra and the Montrose Brown line, as well as the Wilson Avenue red line. Public remarks also note the area is walkable to restaurants, retail, and entertainment, and that the site is surrounded by Lakeview, Ravenswood, and Uptown.
For buyers seeking a small mixed-use configuration, the property’s combination of street-level retail and apartment units provides a straightforward live-and-work style income structure within one building.
The site is presented as transit-oriented and is positioned in Sheridan Park, with convenient access to the Ravenwood Metra and the Montrose Brown line, as well as the Wilson Avenue red line. Public remarks also note the area is walkable to restaurants, retail, and entertainment, and that the site is surrounded by Lakeview, Ravenswood, and Uptown.
For buyers seeking a small mixed-use configuration, the property’s combination of street-level retail and apartment units provides a straightforward live-and-work style income structure within one building.
Key Highlights
- Four‑unit mixed‑use building with 2,700 SF of retail on the ground level
- Two apartments above totaling 2,500 SF (1,250 SF each)
- Building is approximately 8,000 SF and includes a mix of retail and residential space
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 | $129.6k | $21.60 |
| − Vacancy | −$11.0k | −$1.84 |
| EGI | $118.6k | $19.76 |
| − OpEx | −$35.6k | −$5.93 |
| NOI | $83.0k | $13.83 |
6,000 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.43M
$1.25M – $1.67M
NOI $100,019 @ 7.0% cap · market cap 10.53%
Second Best
Apartment 5plus
$1.31M
$1.15M – $1.53M
NOI $91,975 @ 7.0% cap · market cap 9.68%
Theoretical Best
Office A
$2.83M
$2.48M – $3.30M
NOI $198,029 @ 7.0% cap · market cap 20.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Jan's Fashion (Wholesale)
Big Box & Wholesale Store
FAQs
What type of property is this?
Quadplex - A four-unit mixed-use building with retail space on the ground level and two apartments above.
Where is this quadplex located?
The property is located at 4507 North Clark Street Chicago, IL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Four‑unit mixed‑use building with 2,700 SF of retail on the ground level; Two apartments above totaling 2,500 SF (1,250 SF each); Building is approximately 8,000 SF and includes a mix of retail and residential space
