Mixed-Use Investment Opportunity in
5620 North Western Avenue Chicago, IL 60659
5620 North Western Avenue, Chicago, IL, 60659
$1,099,000
Pending
For Sale
$1,099,000
Pending
Fully occupied mixed-use property with high traffic and development potential.
Property Size9,375 SF
Days on Market129
Property Features for 5620 North Western Avenue
General Information
- Standard status
- Pending
- Size
- 9,375 SF
Building Details
- Year Built
- 1938
Listing Agency
EXIT Strategy Realty
(773) 294-7534
Listed by
Alberto Gonzalez · License #475155143
(773) 294-7534
Source
Compass
Added: Mar 13 Checked: Jul 19 at 4:36 am
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 EXIT Strategy Realty
Investment Insights
Based on property information with market context.
This fully occupied three-lot investment property is located in Arcadia Terrace and features C1-2 zoning, suitable for various businesses. Rent increases are scheduled for September. The property includes: a gated parking lot; a three-story mixed-use building that has been completely renovated, featuring a store with a 200 amp panel, a front and back office, three private offices, two 2-bedroom apartments upstairs with 100 amp panel, separate dining areas, new HVAC systems, hardwood floors, new steel back decks, a new hot water tank, and a newer roof (5 years old) with rebuilt parapets and tuckpointing; and a free-standing one-story flexi-core commercial garage with 200-amp 3-phase and 200-amp panel, with the potential to add levels. Tenants in one of the buildings expire in 2024, while others are month-to-month. The property is situated slightly north of Bryn Mawr and adjacent to the Devon corridor, along with Lincoln Square, Ravenswood, and Edgewater, offering easy access to public transportation and Lake Shore Drive. The property size is 9375 square feet.
Key Highlights
- Fully occupied investment property with C1‑2 zoning.
- Three‑lot property with three separate PINs.
- 5620 is a completely rehabbed three‑story mixed‑use building featuring a store, offices, and two 2‑bedroom apartments, each with new HVAC and steel back decks.
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $88.4k | $9.43 |
| − Vacancy | −$4.4k | −$0.47 |
| EGI | $84.0k | $8.96 |
| − OpEx | −$25.2k | −$2.69 |
| NOI | $58.8k | $6.27 |
9,375 SF · lease $9.43/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Mixed Use
$2.26M
$1.98M – $2.64M
NOI $158,203 @ 7.0% cap · market cap 14.40%
Second Best
Apartment 5plus
$2.05M
$1.80M – $2.40M
NOI $143,711 @ 7.0% cap · market cap 13.08%
Theoretical Best
Office A
$4.42M
$3.87M – $5.16M
NOI $309,420 @ 7.0% cap · market cap 28.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Somali Community in Chicago
Community Center
Alderman Andre Vasquez
City Government Office
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Fully occupied mixed-use property with high traffic and development potential.
Where is this mixed-use property located?
The property is located at 5620 North Western Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Fully occupied investment property with C1‑2 zoning.; Three‑lot property with three separate PINs.; **5620 is a completely rehabbed three‑story mixed‑use building** featuring a store, offices, and two 2‑bedroom apartments, each with new HVAC and steel back decks.
