Mixed-Use Building With
For Sale
$890,000
6906-6908 111th St, Worth, IL 60482
Includes a storefront, outdoor patio, pub operation, and a large on-site parking area.
Property Size5,400 SF
Price / SF$164.81
Days on Market27
Property Features for 6906-6908 111th St
General Information
Standard status
Active
Size
5,400 SF
Amenities
outdoor patio
Building Details
Year Built
1973
Buildings
1
Tenancy
Single
Listing Agency:
Infiniti Properties, Inc.
(708) 856-5100
Listed By:
Rima Odeh · License #475102798
Source:
Bktchicago
Added: Aug 2
Changed: Aug 27
Last Checked: Aug 28 at 12:59PM
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 Infiniti Properties, Inc.
Investment Insights
Based on property information with market context.
This 5,400-square-foot mixed-use building, constructed in 1973, combines three apartments with a commercial storefront and outdoor patio. Each apartment includes two bedrooms, 1.1 baths, a kitchen with dishwasher, and in-unit washer and dryer. The residences have been freshly painted, and the property also features newer exterior paint, a new roof, and an air-conditioning system installed two years ago.
The building sits on 111th Street in Worth’s business district, with a storefront-oriented layout and more than 20 parking spaces. The commercial portion is currently operated as a pub. Apartment leases are scheduled to expire in 04/2027. The property includes two PIN numbers: 24183070470000 and 24183070480000.
The building sits on 111th Street in Worth’s business district, with a storefront-oriented layout and more than 20 parking spaces. The commercial portion is currently operated as a pub. Apartment leases are scheduled to expire in 04/2027. The property includes two PIN numbers: 24183070470000 and 24183070480000.
Key Highlights
- 5,400 SF mixed‑use building with three apartments and a commercial storefront
- Each apartment has 2 bedrooms, 1.1 baths, a dishwasher, and washer and dryer
- Commercial space includes an outdoor patio and is currently operated as a pub
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$74,953
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,499,060
$1.5M
Cap Rate 7%
$1,070,757
$1.1M
Cap Rate 9%
$832,811
$832.8K
Market Conditions
NOI Build-Up for 5,400 SF
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.
Gross rent
$116.6K $21.60/SF
− Vacancy
−$9.6K −$1.77/SF
EGI
$107.1K $19.83/SF
− OpEx
−$32.1K −$5.95/SF
NOI
$75.0K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,499,060
Cap Rate 7%
$1,070,757
Cap Rate 9%
$832,811
Alternative Uses
Best Use
Mixed Use
$1.30M
$1.14M – $1.52M
NOI $91,125 @ 7.0% cap · market cap 10.24%
Second Best
Specialty Retail
$1.29M
$1.13M – $1.51M
NOI $90,396 @ 7.0% cap · market cap 10.16%
Theoretical Best
Office A
$1.86M
$1.63M – $2.18M
NOI $130,506 @ 7.0% cap · market cap 14.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
Explore this area
Business Placement
Demographics for 60482, IL
11,216
Population
4,777
Households
2.3
Avg Household Size
39
Median Age
20%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
4,877
Density / Sq Mi
$56,398
Median Household Income
$37,019
Median Earnings
$1,156
Median Rent
$216,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a storefront, outdoor patio, pub operation, and a large on-site parking area.
Where is this mixed-use property located?
The property is located at 6906-6908 111th St Worth, IL.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: 5,400 SF mixed‑use building with three apartments and a commercial storefront; Each apartment has 2 bedrooms, 1.1 baths, a dishwasher, and washer and dryer; Commercial space includes an outdoor patio and is currently operated as a pub
