Building Details

Year Built 1962

Listing Agency: REMAX Legends

Listed By: Edgardo Guerrero · License #475159071 Show Phone

Source: Realtopiare

Added: Jul 24 Changed: Oct 12 Last Checked: Oct 15 at 4:13AM

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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 REMAX Legends

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Investment Insights

Based on property information with market context.

This 3,500-square-foot mixed-use building combines an operating restaurant with residential space above. The commercial area includes seating for 70+ guests, a bar, walk-in coolers, substantial storage, and a fully equipped kitchen. Multiple entrances support flexible circulation, while the property also includes an attached garage or storage area and a rooftop deck over the rear restaurant section.

The property is located at 5039 W Diversey Ave in Chicago, within a high-traffic corridor surrounded by established retail, restaurants, and neighborhood businesses. The setting provides access to major transit routes along with ongoing pedestrian and vehicle activity. Built in 1962, the building offers a combination of commercial operations and residential occupancy within one property.

Key Highlights

• 3,500‑square‑foot mixed‑use building with restaurant and residential components
• Restaurant seating for 70+ guests with bar area and fully equipped commercial kitchen
• Walk‑in coolers and ample storage support restaurant operations

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,685

Cap Rate

2.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$273,700 $273.7K

Cap Rate 7%

$195,500 $195.5K

Cap Rate 9%

$152,056 $152.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,500 SF

Gross rent

$22.7K $6.48/SF

− Vacancy

−$3.1K −$0.89/SF

EGI

$19.6K $5.59/SF

− OpEx

−$5.9K −$1.68/SF

NOI

$13.7K $3.91/SF

Area

ZIP 60639

Vacancy

13.80%

Lease Rate

$6.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$273,700

Cap Rate 7%

$195,500

Cap Rate 9%

$152,056

Alternative Uses

Best Use

Specialty Retail

$820.5K

$717.9K – $957.2K (±1% cap)

NOI $57,432 @ 7.0% cap · market cap 12.22%

Second Best

Mixed Use

$776.3K

$679.2K – $905.6K (±1% cap)

NOI $54,338 @ 7.0% cap · market cap 11.56%

Theoretical Best

Office A

$1.55M

$1.35M – $1.81M (±1% cap)

NOI $108,326 @ 7.0% cap · market cap 23.05%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Law Firm Acupuncture Skin Care Clinic Catering Service Hotel & Motel Tech Support Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,803

Businesses Nearby

Explore this area Business Placement

Demographics for 60639, IL

89,543

Population

28,656

Households

3.1

Avg Household Size

34

Median Age

15%

College-Educated

69%

High-School Grad

5.0 sq mi

ZIP Area

17,909

Density / Sq Mi

$59,710

Median Household Income

$34,846

Median Earnings

$1,212

Median Rent

$289,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercial space includes a restaurant, bar, commercial kitchen, rooftop deck, and attached garage or storage area.

Where is this mixed-use property located?

The property is located at 5039 W Diversey Ave Chicago, IL.

What is the asking price?

The asking price for this property is $469,900.

What are key features of this property?

This property features: 3,500‑square‑foot mixed‑use building with restaurant and residential components; Restaurant seating for 70+ guests with bar area and fully equipped commercial kitchen; Walk‑in coolers and ample storage support restaurant operations