Two-Flat with Lower-Level Living
New
For Sale
$654,900
5856 N Mobile Avenue, Chicago, IL 60646
Recent exterior and mechanical work includes a 2023 roof, gutters, siding, and boiler improvements.
Property Size3,000 SF
Price / SF$218.30
Days on Market5
Property Features for 5856 N Mobile Avenue
General Information
Standard status
Active
Size
3,000 SF
Property subtype
MULTI_FAMILY
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,772
Building Details
Year Built
1920
Listing Agency:
RE/MAX City
Listed By:
Gregory Ignarski · License #475134591
(773) 914-0600
Source:
Dawnmckennagroup
Added: Oct 16
Changed: Oct 19
Last Checked: Oct 19 at 2:30PM
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 RE/MAX City
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Investment Insights
Based on property information with market context.
Built in 1920, this legal nonconforming two-flat includes additional related living space on the lowest level. The property has approximately 3000sf of living space. Work completed in 2023 included a tear-off roof, replacement gutters and siding, and an overhaul of the boiler. The hot water tank and garage door are each 1 year old. New flooring was installed in the main-level kitchen and back bedroom.
Rosedale Park is half a block away. Nearby highways and mass transit provide connections toward O’Hare International Airport and downtown Chicago.
Rosedale Park is half a block away. Nearby highways and mass transit provide connections toward O’Hare International Airport and downtown Chicago.
Key Highlights
- Legal nonconforming two‑flat with related living space on the lowest level
- Approximately 3000sf of living space
- 2023 tear‑off roof, replacement gutters and siding
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,009
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,000,180
$1.0M
Cap Rate 7%
$714,414
$714.4K
Cap Rate 9%
$555,656
$555.7K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$75.6K $25.20/SF
− Vacancy
−$4.2K −$1.39/SF
EGI
$71.4K $23.81/SF
− OpEx
−$21.4K −$7.14/SF
NOI
$50.0K $16.67/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,000,180
Cap Rate 7%
$714,414
Cap Rate 9%
$555,656
Alternative Uses
Best Use
Multifamily LT 5
$714.4K
$625.1K – $833.5K
NOI $50,009 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$657.0K
$574.8K – $766.5K
NOI $45,987 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $99,014 @ 7.0% cap · market cap 15.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,069
Businesses Nearby
Explore this area
Business Placement
Demographics for 60646, IL
28,383
Population
11,636
Households
2.4
Avg Household Size
44
Median Age
58%
College-Educated
95%
High-School Grad
4.4 sq mi
ZIP Area
6,451
Density / Sq Mi
$111,115
Median Household Income
$66,105
Median Earnings
$1,241
Median Rent
$493,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Recent exterior and mechanical work includes a 2023 roof, gutters, siding, and boiler improvements.
Where is this duplex located?
The property is located at 5856 N Mobile Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $654,900.
What are key features of this property?
This property features: Legal nonconforming two‑flat with related living space on the lowest level; Approximately 3000sf of living space; 2023 tear‑off roof, replacement gutters and siding
