Mixed-Use Building with
For Sale
$890,000
6906-6908 111th Street, Worth, IL 60482
Three residential units accompany a storefront, patio, and on-site parking.
Property Size5,400 SF
Days on Market133
Property Features for 6906-6908 111th Street
General Information
Standard status
Active
Size
5,400 SF
Property subtype
Commercial
Zoning
RTAIL
Taxes and HOA fees
Annual Taxes
$21,000
Amenities
outdoor patio
dishwashers
washer & dryers
Building Details
Building Size
5,400 SF
Year Built
1973
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Infiniti Properties, Inc.
(708) 206-3000
Listed By:
Rima Odeh · License #475102798
(708) 206-3000
Source:
Midwestrealestate
Added: Apr 10
Changed: Aug 17
Last Checked: Aug 19 at 2:12PM
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 mixed-use property combines three apartments with a street-level storefront and outdoor patio. Each apartment has two bedrooms and one-and-one-half baths, along with a kitchen equipped with a dishwasher and in-unit washer and dryer. The residences have been freshly painted, while the building features a newer roof, updated exterior paint, and a two-year-old A/C system.
Located at 6906-6908 111th Street in Worth, the property is positioned along 111th Street and includes more than 20 parking spaces. The parcel is zoned RTAIL and was built in 1973. Apartment leases run through 04/2027. The building is offered for sale only; the existing pub use and storefront are part of the current property configuration.
Located at 6906-6908 111th Street in Worth, the property is positioned along 111th Street and includes more than 20 parking spaces. The parcel is zoned RTAIL and was built in 1973. Apartment leases run through 04/2027. The building is offered for sale only; the existing pub use and storefront are part of the current property configuration.
Key Highlights
- Three apartments with two bedrooms and one‑and‑one‑half baths each
- Storefront with outdoor patio and existing pub use
- Dishwashers and washer/dryers in each apartment
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
$70,070
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
7.87%
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%
$1,401,400
$1.4M
Cap Rate 7%
$1,001,000
$1.0M
Cap Rate 9%
$778,556
$778.6K
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
$108.2K $20.04/SF
− Vacancy
−$8.1K −$1.50/SF
EGI
$100.1K $18.54/SF
− OpEx
−$30.0K −$5.56/SF
NOI
$70.1K $12.98/SF
Area
Cook County, IL
Vacancy
7.50%
Lease Rate
$20.04 /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%
$1,401,400
Cap Rate 7%
$1,001,000
Cap Rate 9%
$778,556
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
Multi-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 - Three residential units accompany a storefront, patio, and on-site parking.
Where is this mixed-use property located?
The property is located at 6906-6908 111th Street 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: Three apartments with two bedrooms and one‑and‑one‑half baths each; Storefront with outdoor patio and existing pub use; Dishwashers and washer/dryers in each apartment
