Mixed-Use Building with Day
5801 N Northwest Highway Chicago, IL 60631
5801 N Northwest Highway, Chicago, IL, 60631
$1,799,000
For Sale
$1,799,000
Mixed-use property with retail, office, and multifamily components.
Property Size9,250 SF
Lot Size0.19 Acres
Price / SF$194.49
Days on Market114
Property Features for 5801 N Northwest Highway
General Information
- Standard status
- Active
- Size
- 9,250 SF
- Lot size
- 0.19 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1991
Listing agency
(312) 415-9586
Listed by
John Meyer
(312) 415-9586
Source
33realty
Added: Apr 1 Updated: Jul 10 at 1:16PM Checked: Jul 22 at 5:18AM
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 John Meyer
Investment Insights
Based on property information with market context.
This mixed-use building, completed in 1991, offers 9,250 net rentable square feet. The property features co-working type office space, a day care operation on the first floor, and six one-bedroom, one-bathroom apartments. Five apartments are located on the second floor, with the sixth in the lower level. The 8,250 square foot parcel includes a spacious rear yard and parking for five vehicles. The property is equipped with central HVAC, including 10 gas forced air furnaces, six hot water tanks, and 10 condensers. Additional features include on-site laundry, tenant storage, copper plumbing and electric throughout, and a basement sump pump. The day care has been a successful retail tenant since 2007. The property is located one block from the Norwood Park and Gladstone Park Metra stops and is minutes from I-90. Tenants are responsible for paying for their own heating and air conditioning, and there is a bus stop in front of the building. The pitched roof was fully replaced in 2014.
Key Highlights
- Mixed‑use building with commercial, retail, and multi‑family components
- Successful daycare tenant in place since 2007
- Six one‑bedroom/one‑bathroom apartments provide residential income
Local Financial Insights For Mixed Use
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 | $277.5k | $30.00 |
| − Vacancy | −$27.8k | −$3.00 |
| EGI | $249.8k | $27.00 |
| − OpEx | −$93.7k | −$10.13 |
| NOI | $156.1k | $16.88 |
9,250 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$2.84M
$2.48M – $3.31M
NOI $198,468 @ 7.0% cap · market cap 11.03%
Second Best
Mixed Use
$2.23M
$1.95M – $2.60M
NOI $156,094 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$4.36M
$3.82M – $5.09M
NOI $305,294 @ 7.0% cap · market cap 16.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Window Factory
Hardware & Home Improvement
Thrivest Link Legal ...
Bank
Green World Construction
Roofing Company
Quickie Tire - Mobile ...
(Bike/Boat/Book/etc) Store
Roberts Restorations Inc ...
Roofing Company
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with retail, office, and multifamily components.
Where is this mixed-use property located?
The property is located at 5801 N Northwest Highway Chicago, IL.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Mixed‑use building with commercial, retail, and multi‑family components; Successful daycare tenant in place since 2007; Six one‑bedroom/one‑bathroom apartments provide residential income
