Mixed-Use Automotive
For Sale
Contact for pricing
7419 S Western Avenue, Chicago, IL 60636
Updated commercial and residential configuration with a service garage, vehicle capacity, and C2-2 zoning.
Property Size3,000 SF
Price / SF$199
Days on Market11
Property Features for 7419 S Western Avenue
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Retail, Mixed Use
Zoning
COMMR
Building Details
Year Built
1974
Stories
2
Units
2
Listing Agency:
Keller Williams Preferred Realty Bourbonnais
Listed By:
Paula Boudos · License #475164071
(708) 798-1111
Source:
Crexi
Added: Aug 24
Changed: Sep 2
Last Checked: Sep 3 at 9:43AM
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 Keller Williams Preferred Realty Bourbonnais
Investment Insights
Based on property information with market context.
This mixed-use property combines a first-floor commercial area with three offices, a kitchen, and a bathroom with shower, along with a remodeled two-bedroom, one-bath apartment above. The property also includes a dedicated garage and service building equipped with an automotive lift, plus a semi-finished basement with laundry and storage. Updates completed in 2022 include the roof, HVAC system, and two water heaters.
The two parcels provide approximately 6,300 SF of land with room for approximately 40-50 vehicles. The 3,000-square-foot property is positioned on Western Avenue in Chicago and carries C2-2 zoning. The first-floor commercial space is owner occupied, while the second-floor apartment is rented, supporting the existing mixed-use arrangement.
The layout and improvements accommodate the current automotive setup while also supporting contractor, service, retail, office, or other commercial uses identified for the zoning.
The two parcels provide approximately 6,300 SF of land with room for approximately 40-50 vehicles. The 3,000-square-foot property is positioned on Western Avenue in Chicago and carries C2-2 zoning. The first-floor commercial space is owner occupied, while the second-floor apartment is rented, supporting the existing mixed-use arrangement.
The layout and improvements accommodate the current automotive setup while also supporting contractor, service, retail, office, or other commercial uses identified for the zoning.
Key Highlights
- Approximately 6,300 SF of land across two parcels
- Room for approximately 40‑50 vehicles
- C2‑2 zoning supports the existing mixed‑use configuration
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
$50,625
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
8.44%
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%
$1,012,500
$1.0M
Cap Rate 7%
$723,214
$723.2K
Cap Rate 9%
$562,500
$562.5K
Market Conditions
NOI Build-Up for 3,000 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
$90.0K $30.00/SF
− Vacancy
−$9.0K −$3.00/SF
EGI
$81.0K $27.00/SF
− OpEx
−$30.4K −$10.13/SF
NOI
$50.6K $16.88/SF
Area
Chicago, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,012,500
Cap Rate 7%
$723,214
Cap Rate 9%
$562,500
Alternative Uses
Best Use
Office B
$919.5K
$804.6K – $1.07M
NOI $64,368 @ 7.0% cap · market cap 10.73%
Second Best
Mixed Use
$723.2K
$632.8K – $843.8K
NOI $50,625 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $99,014 @ 7.0% cap · market cap 16.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,775
Businesses Nearby
Explore this area
Business Placement
Demographics for 60636, IL
34,800
Population
14,363
Households
2.4
Avg Household Size
35
Median Age
11%
College-Educated
78%
High-School Grad
3.9 sq mi
ZIP Area
8,923
Density / Sq Mi
$35,077
Median Household Income
$30,411
Median Earnings
$1,135
Median Rent
$150,600
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated commercial and residential configuration with a service garage, vehicle capacity, and C2-2 zoning.
Where is this mixed-use property located?
The property is located at 7419 S Western Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Approximately 6,300 SF of land across two parcels; Room for approximately 40‑50 vehicles; C2‑2 zoning supports the existing mixed‑use configuration
