Mixed-Use Building with
6244 W Grand Avenue, Chicago, IL 60639
For Sale
$550,000
An open commercial floor and three updated apartments create a combination of business and residential space.
Property Size3,210 SF
Price / SF$171.34
Days on Market57
Property Features for 6244 W Grand Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Neighborhood
Utilities to Site
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
fenced rear patio
large shed
Building Details
Building Size
Year Built
Buildings
Stories
Units
Construction
Listing Agency:
Diaz Homes Realty
Listed By:
Francisco Diaz
(773) 622-9930
Source:
Amberrealty
Added: Sep 14
Changed: Nov 7
Last Checked: Nov 8 at 8:34PM
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 Diaz Homes Realty
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Investment Insights
Based on property information with market context.
This two-story mixed-use building contains 3,210 square feet, with open commercial space on the ground floor and three one-bedroom apartments above. The apartments have open living and kitchen areas and have been recently renovated. Improvements include updated electrical and plumbing, four AC units, four water heaters, and a replacement roof. The building dates to 1969.
Outdoor and site features include a fenced rear patio, a large shed, and two parking spaces. Brickyard Shopping Mall is nearby.
Outdoor and site features include a fenced rear patio, a large shed, and two parking spaces. Brickyard Shopping Mall is nearby.
Key Highlights
- 3,210‑square‑foot, two‑story mixed‑use property built in 1969
- Three recently renovated one‑bedroom apartments with open living and kitchen areas
- Ground‑floor commercial space with an open layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,835
Cap Rate
9.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,700
$996.7K
Cap Rate 7%
$711,929
$711.9K
Cap Rate 9%
$553,722
$553.7K
Market Conditions
NOI Build-Up for 3,210 SF
Gross rent
$88.6K $27.60/SF
− Vacancy
−$8.9K −$2.76/SF
EGI
$79.7K $24.84/SF
− OpEx
−$29.9K −$9.32/SF
NOI
$49.8K $15.53/SF
Area
ZIP 60639
Vacancy
10.00%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,700
Cap Rate 7%
$711,929
Cap Rate 9%
$553,722
Alternative Uses
Best Use
Mixed Use
$711.9K
$622.9K – $830.6K
NOI $49,835 @ 7.0% cap · market cap 9.06%
Second Best
Apartment 5plus
$698.5K
$611.2K – $814.9K
NOI $48,895 @ 7.0% cap · market cap 8.89%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,351 @ 7.0% cap · market cap 18.06%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
856
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
$289,000
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Chicago, IL
Properties on Market for Mixed-use properties in Chicago
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - An open commercial floor and three updated apartments create a combination of business and residential space.
Where is this mixed-use property located?
The property is located at 6244 W Grand Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 3,210‑square‑foot, two‑story mixed‑use property built in 1969; Three recently renovated one‑bedroom apartments with open living and kitchen areas; Ground‑floor commercial space with an open layout
