Renovated Mixed-Use
For Sale
$599,999
517 S 9th Ave, Maywood, IL 60153
Combines leased residential units with renovated automotive shop space and included equipment.
Property Size7,712 SF
Price / SF$77.80
Days on Market48
Property Features for 517 S 9th Ave
General Information
Standard status
Active
Size
7,712 SF
Property subtype
Multi-Family
Building Details
Year Built
1903
Listing Agency:
@Properties Christies International Real Estate
Listed By:
Thomas Bezanes · License #471018395
(312) 622-2850
Source:
Highriseschicago
Added: Aug 28
Changed: Oct 13
Last Checked: Oct 12 at 8:30PM
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 @Properties Christies International Real Estate
Investment Insights
Based on property information with market context.
This 7,712-square-foot mixed-use property in Maywood combines a two-unit residential building with an automotive and body shop. The apartments are currently leased and include one 2 bed, 1 bath unit and one 3 bed, 1 bath unit. Residential improvements completed between 2022 and 2023 include updated framing, drywall, electrical, plumbing, HVAC, furnaces, air-conditioning units, tankless water heaters, panels, hardwood flooring, windows, doors, siding, roofing, balcony, concrete, and other exterior work. Attic storage provides additional usable space.
The automotive shop was renovated during the same period with updated HVAC, plumbing, electrical service, a new electrical panel, bathroom, kitchenette and storage area, reception desk, and security system. Sale inclusions include an automotive frame rack and frame-straightening system, along with a Clean Shop automotive paint and prep filtration station. The property was originally built in 1903.
The automotive shop was renovated during the same period with updated HVAC, plumbing, electrical service, a new electrical panel, bathroom, kitchenette and storage area, reception desk, and security system. Sale inclusions include an automotive frame rack and frame-straightening system, along with a Clean Shop automotive paint and prep filtration station. The property was originally built in 1903.
Key Highlights
- 7,712 SF mixed‑use property with residential and automotive components
- Two leased apartments: one 2 bed/1 bath and one 3 bed/1 bath
- Residential building extensively renovated between 2022‑2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,198
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$663,960
$664.0K
Cap Rate 7%
$474,257
$474.3K
Cap Rate 9%
$368,867
$368.9K
Market Conditions
NOI Build-Up for 7,712 SF
Gross rent
$50.0K $6.48/SF
− Vacancy
−$2.5K −$0.33/SF
EGI
$47.4K $6.15/SF
− OpEx
−$14.2K −$1.84/SF
NOI
$33.2K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$663,960
Cap Rate 7%
$474,257
Cap Rate 9%
$368,867
Alternative Uses
Best Use
Mixed Use
$1.86M
$1.63M – $2.17M
NOI $130,140 @ 7.0% cap · market cap 21.69%
Second Best
Retail
$1.53M
$1.34M – $1.78M
NOI $107,044 @ 7.0% cap · market cap 17.84%
Theoretical Best
Office A
$2.66M
$2.33M – $3.11M
NOI $186,382 @ 7.0% cap · market cap 31.06%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
973
Businesses Nearby
Explore this area
Business Placement
Demographics for 60153, IL
23,512
Population
8,385
Households
2.8
Avg Household Size
36
Median Age
17%
College-Educated
79%
High-School Grad
2.8 sq mi
ZIP Area
8,397
Density / Sq Mi
$66,498
Median Household Income
$40,734
Median Earnings
$1,203
Median Rent
$212,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines leased residential units with renovated automotive shop space and included equipment.
Where is this mixed-use property located?
The property is located at 517 S 9th Ave Maywood, IL.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: 7,712 SF mixed‑use property with residential and automotive components; Two leased apartments: one 2 bed/1 bath and one 3 bed/1 bath; Residential building extensively renovated between 2022‑2023
