Mixed-Use Bar and Apartment
For Sale
$725,000
4785 S Archer Avenue, Chicago, IL 60632
Three apartments, a fully equipped bar, and dedicated parking create a combined commercial and residential configuration.
Property Size3,840 SF
Days on Market255
Property Features for 4785 S Archer Avenue
General Information
Standard status
Active
Size
3,840 SF
Property subtype
Commercial
Zoning
COMMR
Additional Details
Floor
1
Business Included
Yes
Traffic Count
26,000 vehicles/day
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$8,197
Amenities
central air conditioning
central heating
public transportation
Building Details
Building Size
3,840 SF
Year Built
1901
Stories
2
Units
4
Listing Agency:
Shield Real Estate
(773) 364-4530
Listed By:
Rafael Alvarado · License #471015563
(773) 364-4530
Source:
Cavanaghrealty
Added: Nov 28, 2025
Changed: Aug 7
Last Checked: Aug 9 at 12:49PM
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 Shield Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property combines a neighborhood bar with three apartments. The first floor includes a fully equipped bar, kitchen, and a two-bedroom apartment, while the two upper-level apartments each offer three bedrooms. All apartments have individual central air and heat systems. Trade fixtures remain with the property, and a two-car brick garage is included along with additional rear parking. Built in 1901, the property carries two street addresses: 4785 and 4787 S Archer Avenue.
Public transportation is located at the corner, with the Orange Line a short distance away. The property is positioned on S Archer Avenue in Chicago, with new construction and rehabilitation activity identified nearby.
Public transportation is located at the corner, with the Orange Line a short distance away. The property is positioned on S Archer Avenue in Chicago, with new construction and rehabilitation activity identified nearby.
Key Highlights
- Three apartments: two 3‑bedroom units and one 2‑bedroom unit
- Fully equipped bar and kitchen occupy the first floor
- Individual central air and heat for each apartment
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
$63,360
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
8.74%
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%
$1,267,200
$1.3M
Cap Rate 7%
$905,143
$905.1K
Cap Rate 9%
$704,000
$704.0K
Market Conditions
NOI Build-Up for 3,840 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
$115.2K $30.00/SF
− Vacancy
−$13.8K −$3.60/SF
EGI
$101.4K $26.40/SF
− OpEx
−$38.0K −$9.90/SF
NOI
$63.4K $16.50/SF
Area
ZIP 60632
Vacancy
12.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,267,200
Cap Rate 7%
$905,143
Cap Rate 9%
$704,000
Alternative Uses
Best Use
Mixed Use
$905.1K
$792.0K – $1.06M
NOI $63,360 @ 7.0% cap · market cap 8.74%
Second Best
Multifamily LT 5
$797.1K
$697.4K – $929.9K
NOI $55,795 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,289 @ 7.0% cap · market cap 16.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
26,000 VPD
Traffic count
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
992
Businesses Nearby
Explore this area
Business Placement
Demographics for 60632, IL
92,237
Population
28,860
Households
3.2
Avg Household Size
33
Median Age
13%
College-Educated
69%
High-School Grad
7.4 sq mi
ZIP Area
12,464
Density / Sq Mi
$60,576
Median Household Income
$35,203
Median Earnings
$1,057
Median Rent
$240,600
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 - Three apartments, a fully equipped bar, and dedicated parking create a combined commercial and residential configuration.
Where is this mixed-use property located?
The property is located at 4785 S Archer Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Three apartments: two 3‑bedroom units and one 2‑bedroom unit; Fully equipped bar and kitchen occupy the first floor; Individual central air and heat for each apartment
