Mixed-Use Building with
731 W 47th St, Chicago, IL 60609
For Sale
$750,000
Two storefronts combine with an attached warehouse and unfinished second-floor apartments.
Property Size5,760 SF
Price / SF$130.21
Days on Market50
Property Features for 731 W 47th St
General Information
Standard status
Size
Property Condition
Severity
Evidence
Site & Location
Neighborhood
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Chicagoland Brokers, Inc.
Listed By:
Nicholas Clancy · License #475153611
(773) 745-1000
Source:
Amyboston.realtopiare
Added: Sep 21
Changed: Oct 26
Last Checked: Oct 7 at 1:53PM
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 Chicagoland Brokers, Inc.
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Investment Insights
Based on property information with market context.
This mixed-use building contains 5,760 square feet with two storefronts and an attached warehouse/garage. The second floor includes two apartments that are ready for completion, offering a combination of commercial and residential space within the same structure. Built in 1893, the property is located at 731 W 47th St in Chicago, Illinois. The building next door at 735 W 47th St may also be purchased as part of a package.
Key Highlights
- 5,760‑square‑foot mixed‑use building
- Two storefronts with attached warehouse/garage
- Two second‑floor apartments ready to be finished
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,630
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$872,600
$872.6K
Cap Rate 7%
$623,286
$623.3K
Cap Rate 9%
$484,778
$484.8K
Market Conditions
NOI Build-Up for 5,760 SF
Gross rent
$54.3K $9.43/SF
− Vacancy
−$3.0K −$0.52/SF
EGI
$51.3K $8.91/SF
− OpEx
−$7.7K −$1.34/SF
NOI
$43.6K $7.57/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$9.43 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$872,600
Cap Rate 7%
$623,286
Cap Rate 9%
$484,778
Alternative Uses
Best Use
Mixed Use
$1.39M
$1.22M – $1.62M
NOI $97,200 @ 7.0% cap · market cap 12.96%
Second Best
Retail
$1.14M
$996.1K – $1.33M
NOI $79,688 @ 7.0% cap · market cap 10.63%
Theoretical Best
Office A
$2.72M
$2.38M – $3.17M
NOI $190,108 @ 7.0% cap · market cap 25.35%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Explore this area
Business Placement
Demographics for 60609, IL
65,770
Population
26,122
Households
2.5
Avg Household Size
34
Median Age
20%
College-Educated
76%
High-School Grad
7.7 sq mi
ZIP Area
8,542
Density / Sq Mi
$54,142
Median Household Income
$37,694
Median Earnings
$1,070
Median Rent
$251,600
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Chicago, IL
Properties on Market for Mixed-use properties in Chicago
Vacancy Rate% for Industrial in Chicago, IL
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two storefronts combine with an attached warehouse and unfinished second-floor apartments.
Where is this mixed-use property located?
The property is located at 731 W 47th St Chicago, IL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 5,760‑square‑foot mixed‑use building; Two storefronts with attached warehouse/garage; Two second‑floor apartments ready to be finished
