Mixed-Use Building with
For Sale
$1,585,000
7101-7109 North Clark Street, Chicago, IL 60626
Combines commercial frontage with residential studio units in a single Chicago property.
Property Size9,572 SF
Price / SF$165.59
Days on Market177
Property Features for 7101-7109 North Clark Street
General Information
Standard status
Active
Size
9,572 SF
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$21,041
Building Details
Year Built
1916
Stories
2
Listing Agency:
john greene, Realtor
(630) 253-3629
Listed By:
Brett McIntyre · License #475142374
(630) 253-3629
Source:
Compass
Added: Mar 7
Changed: Aug 30
Last Checked: Aug 30 at 1:09PM
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 john greene, Realtor
Investment Insights
Based on property information with market context.
Built in 1916, this mixed-use property contains 9,572 square feet with six storefronts and 12 residential studio units. The building features updated electrical and mechanical systems, along with a newer roof. Some residential units have also received recent updates.
The property is located at 7101-7109 North Clark Street in Chicago, at the intersection of North Clark Street and Estes Avenue. Most of the studio units are occupied by longer-term tenants, while other units have undergone recent improvements.
The property is located at 7101-7109 North Clark Street in Chicago, at the intersection of North Clark Street and Estes Avenue. Most of the studio units are occupied by longer-term tenants, while other units have undergone recent improvements.
Key Highlights
- 6 storefronts and 12 residential studios
- 9,572 SF mixed‑use building
- Updated electric and mechanical systems
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
$132,427
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
8.36%
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%
$2,648,540
$2.6M
Cap Rate 7%
$1,891,814
$1.9M
Cap Rate 9%
$1,471,411
$1.5M
Market Conditions
NOI Build-Up for 9,572 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
$206.8K $21.60/SF
− Vacancy
−$17.6K −$1.84/SF
EGI
$189.2K $19.76/SF
− OpEx
−$56.8K −$5.93/SF
NOI
$132.4K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
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%
$2,648,540
Cap Rate 7%
$1,891,814
Cap Rate 9%
$1,471,411
Alternative Uses
Best Use
Mixed Use
$2.31M
$2.02M – $2.69M
NOI $161,528 @ 7.0% cap · market cap 10.19%
Second Best
Apartment 5plus
$2.10M
$1.83M – $2.45M
NOI $146,731 @ 7.0% cap · market cap 9.26%
Theoretical Best
Office A
$4.51M
$3.95M – $5.27M
NOI $315,922 @ 7.0% cap · market cap 19.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,315
Businesses Nearby
Explore this area
Business Placement
Demographics for 60626, IL
50,548
Population
26,812
Households
1.9
Avg Household Size
36
Median Age
53%
College-Educated
91%
High-School Grad
1.7 sq mi
ZIP Area
29,734
Density / Sq Mi
$57,452
Median Household Income
$39,527
Median Earnings
$1,265
Median Rent
$269,000
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 - Combines commercial frontage with residential studio units in a single Chicago property.
Where is this mixed-use property located?
The property is located at 7101-7109 North Clark Street Chicago, IL.
What is the asking price?
The asking price for this property is $1,585,000.
What are key features of this property?
This property features: 6 storefronts and 12 residential studios; 9,572 SF mixed‑use building; Updated electric and mechanical systems
