Building Details

Year Built 1915

Tenancy Multi

Listing Agency: Keller Williams ONEChicago

Listed By: Tommy Choi · License #471004140 Show Phone

Source: Illianahomesource

Added: Jul 18 Changed: Oct 1 Last Checked: Oct 12 at 8:26PM

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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 Keller Williams ONEChicago

Investment Insights

Based on property information with market context.

This 5,894-square-foot mixed-use property, built in 1915, combines three apartments with a corner storefront and a two-car garage. The residential component includes two 3BR apartments and one 2BR apartment. The commercial space is currently used as a beauty salon, providing an established storefront configuration within the building.

The sale includes the adjacent lot at 5801 W 16th St, which is currently used as outdoor space for tenants. The combination of apartment layouts, commercial frontage, garage capacity, and adjoining outdoor area creates a property with both residential and business components.

Key Highlights

• Three apartments with two 3BR layouts and one 2BR layout
• Corner storefront currently used as a beauty salon
• 5,894‑square‑foot mixed‑use building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$68,375

Cap Rate

9.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,367,500 $1.4M

Cap Rate 7%

$976,786 $976.8K

Cap Rate 9%

$759,722 $759.7K

Market Conditions

NOI Build-Up for 5,894 SF

Gross rent

$133.7K $22.68/SF

− Vacancy

−$9.4K −$1.59/SF

EGI

$124.3K $21.09/SF

− OpEx

−$55.9K −$9.49/SF

NOI

$68.4K $11.60/SF

Area

Cook County, IL

Vacancy

7.00%

Lease Rate

$22.68 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,367,500

Cap Rate 7%

$976,786

Cap Rate 9%

$759,722

Alternative Uses

Best Use

Mixed Use

$1.42M

$1.24M – $1.66M (±1% cap)

NOI $99,461 @ 7.0% cap · market cap 13.26%

Second Best

Retail

$1.17M

$1.02M – $1.36M (±1% cap)

NOI $81,810 @ 7.0% cap · market cap 10.91%

Theoretical Best

Office A

$2.03M

$1.78M – $2.37M (±1% cap)

NOI $142,445 @ 7.0% cap · market cap 18.99%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Law Firm Skin Care Clinic Garden Center Acupuncture Parking Lot & Garage Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,126

Businesses Nearby

Explore this area Business Placement

Demographics for 60804, IL

85,673

Population

26,738

Households

3.2

Avg Household Size

32

Median Age

11%

College-Educated

68%

High-School Grad

7.1 sq mi

ZIP Area

12,067

Density / Sq Mi

$68,548

Median Household Income

$36,786

Median Earnings

$1,121

Median Rent

$236,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Residential units accompany a commercial frontage and two-car garage.

Where is this mixed-use property located?

The property is located at 5801 W 16th St Cicero, IL.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: Three apartments with two 3BR layouts and one 2BR layout; Corner storefront currently used as a beauty salon; 5,894‑square‑foot mixed‑use building