Vacant Mixed-Use
For Sale
$469,900
5316 W North Avenue, Chicago, IL 60639
Street-level commercial space is paired with two residential apartments and a detached garage.
Property Size4,098 SF
Price / SF$450.10
Days on Market31
Property Features for 5316 W North Avenue
General Information
Standard status
Active
Size
4,098 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,376
Building Details
Building Size
4,098 SF
Year Built
1926
Buildings
2
Stories
3
Units
3
Listing Agency:
RLB Realty Group, Inc.
(773) 268-2000
Listed By:
Latangela Ward
(773) 268-2000
Source:
Allinonerealestateco
Added: Jul 29
Changed: Aug 28
Last Checked: Aug 28 at 12:24PM
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 RLB Realty Group, Inc.
Investment Insights
Based on property information with market context.
Built in 1926, this mixed-use property combines approximately 1,044 square feet of street-level commercial area with two residential apartments. Each apartment includes two bedrooms, one bathroom, separate living and dining rooms, and the building is accompanied by a detached two-car garage.
The property is fully vacant and is located on North Avenue with street frontage. Public transportation, shopping, restaurants, and major expressways are identified in the surrounding area. The property is offered as-is, with zoning, permitted uses, dimensions, square footage, taxes, and other purchase-related information subject to independent verification.
The property is fully vacant and is located on North Avenue with street frontage. Public transportation, shopping, restaurants, and major expressways are identified in the surrounding area. The property is offered as-is, with zoning, permitted uses, dimensions, square footage, taxes, and other purchase-related information subject to independent verification.
Key Highlights
- Approximately 1,044 square feet of street‑level commercial space
- Two 2‑bedroom, 1‑bath residential apartments
- Separate living and dining rooms in 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
$17,629
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
3.75%
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%
$352,580
$352.6K
Cap Rate 7%
$251,843
$251.8K
Cap Rate 9%
$195,878
$195.9K
Market Conditions
NOI Build-Up for 1,044 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
$26.9K $25.80/SF
− Vacancy
−$1.8K −$1.68/SF
EGI
$25.2K $24.12/SF
− OpEx
−$7.6K −$7.24/SF
NOI
$17.6K $16.89/SF
Area
ZIP 60639
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
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%
$352,580
Cap Rate 7%
$251,843
Cap Rate 9%
$195,878
Alternative Uses
Best Use
Multifamily LT 5
$251.8K
$220.4K – $293.8K
NOI $17,629 @ 7.0% cap · market cap 3.75%
Second Best
Mixed Use
$231.5K
$202.6K – $270.1K
NOI $16,208 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$461.6K
$403.9K – $538.5K
NOI $32,312 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,167
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial space is paired with two residential apartments and a detached garage.
Where is this mixed-use property located?
The property is located at 5316 W North Avenue 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: Approximately 1,044 square feet of street‑level commercial space; Two 2‑bedroom, 1‑bath residential apartments; Separate living and dining rooms in each apartment
