Two-Unit Mixed-Use Brick
For Sale
$549,900
5110 W Fullerton Avenue, Chicago, IL 60639
Brick mixed-use property with first-floor office/retail space and a remodeled two-bedroom residential unit.
Property Size3,000 SF
Days on Market133
Property Features for 5110 W Fullerton Avenue
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
COMMR
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$6,228
Amenities
remodeled restrooms
patio
backyard
wood deck
central air
hardwood floors
granite counter tops
ceiling fan
recessed lighting
french doors
laundry room
Building Details
Building Size
3,000 SF
Year Built
1968
Stories
2
Units
2
Construction
brick
Listing Agency:
HomeSmart Connect LLC
(773) 985-7700
Listed By:
Ana Lozano · License #471006239
(773) 985-7700
Source:
Ozmentrealestate
Added: Apr 13
Changed: Aug 23
Last Checked: Aug 4 at 7:24AM
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 HomeSmart Connect LLC
Investment Insights
Based on property information with market context.
This 2-flat mixed-use brick building offers office/retail space on the first floor and a second-floor rental unit. The property includes two remodeled restrooms on the commercial level (one for women and one for men), and an additional special backroom that was previously rented along with second-floor use.
The second-floor unit features a remodeled apartment with hardwood floors, an open floor plan, and bright recessed lighting throughout. The updated kitchen includes white cabinetry and granite countertops, and the layout offers a spacious living and dining area, a master bedroom with double closets, a second bedroom with French doors, a ceramic tile bathroom, and a laundry room. A private wood deck provides outdoor space with views to the backyard.
Additional improvements include replaced windows, vinyl siding, central air throughout, and two furnaces (one electric and one gas) with two central air compressors. The property also has a 2-car garage and features a backyard with privacy fencing and a patio-door connection.
The second-floor unit features a remodeled apartment with hardwood floors, an open floor plan, and bright recessed lighting throughout. The updated kitchen includes white cabinetry and granite countertops, and the layout offers a spacious living and dining area, a master bedroom with double closets, a second bedroom with French doors, a ceramic tile bathroom, and a laundry room. A private wood deck provides outdoor space with views to the backyard.
Additional improvements include replaced windows, vinyl siding, central air throughout, and two furnaces (one electric and one gas) with two central air compressors. The property also has a 2-car garage and features a backyard with privacy fencing and a patio-door connection.
Key Highlights
- 1968 brick mixed‑use building with first‑floor office/retail space and a remodeled 2nd‑floor 2‑bedroom rental unit
- 2 remodeled restrooms on the property, including one women’s restroom and one men’s restroom
- 2nd‑floor unit features hardwood floors, an open floor plan, and bright recessed lighting
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
$46,575
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
8.47%
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%
$931,500
$931.5K
Cap Rate 7%
$665,357
$665.4K
Cap Rate 9%
$517,500
$517.5K
Market Conditions
NOI Build-Up for 3,000 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
$82.8K $27.60/SF
− Vacancy
−$8.3K −$2.76/SF
EGI
$74.5K $24.84/SF
− OpEx
−$27.9K −$9.32/SF
NOI
$46.6K $15.53/SF
Area
ZIP 60639
Vacancy
10.00%
Lease Rate
$27.60 /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%
$931,500
Cap Rate 7%
$665,357
Cap Rate 9%
$517,500
Alternative Uses
Best Use
Multifamily LT 5
$723.7K
$633.2K – $844.3K
NOI $50,658 @ 7.0% cap · market cap 9.21%
Second Best
Mixed Use
$665.4K
$582.2K – $776.3K
NOI $46,575 @ 7.0% cap · market cap 8.47%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,851 @ 7.0% cap · market cap 16.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,495
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick mixed-use property with first-floor office/retail space and a remodeled two-bedroom residential unit.
Where is this mixed-use property located?
The property is located at 5110 W Fullerton Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 1968 brick mixed‑use building with first‑floor office/retail space and a remodeled 2nd‑floor 2‑bedroom rental unit; 2 remodeled restrooms on the property, including one women’s restroom and one men’s restroom; 2nd‑floor unit features hardwood floors, an open floor plan, and bright recessed lighting
