Brick Mixed-Use
For Sale
$629,813
6348 W Grand Ave, Chicago, IL 60639
Three-unit property combining a commercial storefront with two residential apartments and a partially finished basement.
Property Size2,987 SF
Price / SF$210.85
Days on Market224
Property Features for 6348 W Grand Ave
General Information
Standard status
Active
Size
2,987 SF
Total Parking Spaces
2
Occupancy
100%
Site & Location
Neighborhood
Belmont Central
Additional Details
Gross Income
$33,000
Building Details
Year Built
1939
Buildings
1
Stories
2
Construction
brick
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
Listed By:
Eugenia Canepa · License #475130445
(773) 216-0675
Source:
Grandviewrealtyservices
Added: Mar 17
Changed: Oct 25
Last Checked: Oct 24 at 8:53PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This 6,250-square-foot brick mixed-use property, built in 1939, contains a first-floor storefront and two apartments. The front commercial space offers two large rooms, hardwood flooring, and a half bath. The first-floor rear apartment includes one bedroom, three rooms, a renovated kitchen and bath, hardwood floors, a gas fireplace, sliding patio doors, and newer electrical, plumbing, drywall, windows, and flooring completed 3 years ago. The second-floor residence provides six rooms, three bedrooms, one bath, hardwood floors, a large kitchen, a walk-in closet, and a skylit bathroom.
A partially finished basement adds a laundry area, full bathroom with shower, kitchen stove, and a 2 year old sump pump. Building systems include 1 ghw boiler, 2 separate gas meters, and 3 cb panels. The property also includes a brick 2 car garage and iron security fencing at the front and rear. The address is 6348 West Grand Avenue, Chicago, IL 60639. The property is sold as-is and is zoned RTAIL.
A partially finished basement adds a laundry area, full bathroom with shower, kitchen stove, and a 2 year old sump pump. Building systems include 1 ghw boiler, 2 separate gas meters, and 3 cb panels. The property also includes a brick 2 car garage and iron security fencing at the front and rear. The address is 6348 West Grand Avenue, Chicago, IL 60639. The property is sold as-is and is zoned RTAIL.
Key Highlights
- 6,250‑square‑foot brick mixed‑use property built in 1939
- Three‑unit layout with a first‑floor storefront and two apartments
- First‑floor rear apartment rehab completed 3 years ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,439
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,008,780
$1.0M
Cap Rate 7%
$720,557
$720.6K
Cap Rate 9%
$560,433
$560.4K
Market Conditions
NOI Build-Up for 2,987 SF
Gross rent
$77.1K $25.80/SF
− Vacancy
−$5.0K −$1.68/SF
EGI
$72.1K $24.12/SF
− OpEx
−$21.6K −$7.24/SF
NOI
$50.4K $16.89/SF
Area
ZIP 60639
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,008,780
Cap Rate 7%
$720,557
Cap Rate 9%
$560,433
Alternative Uses
Best Use
Multifamily LT 5
$720.6K
$630.5K – $840.7K
NOI $50,439 @ 7.0% cap · market cap 8.01%
Second Best
Mixed Use
$662.5K
$579.7K – $772.9K
NOI $46,373 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,449 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
843
Businesses Nearby
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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
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-unit property combining a commercial storefront with two residential apartments and a partially finished basement.
Where is this mixed-use property located?
The property is located at 6348 W Grand Ave Chicago, IL.
What is the asking price?
The asking price for this property is $629,813.
What are key features of this property?
This property features: 6,250‑square‑foot brick mixed‑use property built in 1939; Three‑unit layout with a first‑floor storefront and two apartments; First‑floor rear apartment rehab completed 3 years ago
