Mixed-Use Building with
New
For Sale
$1,100,000
7654 S Harlem Ave, Bridgeview, IL 60455
Six one-bedroom residences accompany two office suites, shared laundry facilities, and basement storage.
Property Size7,400 SF
Price / SF$148.65
Days on Market4
Property Features for 7654 S Harlem Ave
General Information
Standard status
Active
Size
7,400 SF
Building Details
Year Built
1969
Listing Agency:
Century 21 Circle
Listed By:
Mark Vaccaro · License #471021485
(708) 307-9761
Source:
Realtopiare
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 1 at 12:20PM
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 Century 21 Circle
Investment Insights
Based on property information with market context.
This 7,400-square-foot brick property, built in 1969, combines six one-bedroom, one-bath apartments with two office suites of approximately 530 square feet each; each office has a restroom. Apartment features include radiant floor heat, sleeve air conditioning, a refrigerator, and a stove/oven. A shared laundry area has a washer, dryer, and wash tub. The unfinished basement provides storage, including designated storage areas for two apartments. The roof has been replaced, and basement waterproofing and a new asphalt parking lot were completed in 2025. Vinyl windows are approximately 15 years old, and the water heater is approximately 12 years old.
The property is on Harlem Avenue at a signalized corner in Bridgeview, with public transportation available nearby. Five of the six apartments are occupied. Apartment residents pay their own electric service.
The property is on Harlem Avenue at a signalized corner in Bridgeview, with public transportation available nearby. Five of the six apartments are occupied. Apartment residents pay their own electric service.
Key Highlights
- Six one‑bedroom, one‑bath apartments and two office suites of approximately 530 square feet each
- All‑brick building with 7,400 square feet; built in 1969
- Radiant floor heating, sleeve air conditioning, refrigerator, and stove/oven 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
$85,846
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
7.80%
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%
$1,716,920
$1.7M
Cap Rate 7%
$1,226,371
$1.2M
Cap Rate 9%
$953,844
$953.8K
Market Conditions
NOI Build-Up for 7,400 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
$167.8K $22.68/SF
− Vacancy
−$11.7K −$1.59/SF
EGI
$156.1K $21.09/SF
− OpEx
−$70.2K −$9.49/SF
NOI
$85.8K $11.60/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
45.00%
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%
$1,716,920
Cap Rate 7%
$1,226,371
Cap Rate 9%
$953,844
Alternative Uses
Best Use
Mixed Use
$1.78M
$1.56M – $2.08M
NOI $124,875 @ 7.0% cap · market cap 11.35%
Second Best
Apartment 5plus
$1.23M
$1.07M – $1.43M
NOI $85,846 @ 7.0% cap · market cap 7.80%
Theoretical Best
Office A
$2.55M
$2.24M – $2.98M
NOI $178,842 @ 7.0% cap · market cap 16.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
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Business Placement
Demographics for 60455, IL
17,098
Population
6,834
Households
2.5
Avg Household Size
38
Median Age
18%
College-Educated
83%
High-School Grad
4.2 sq mi
ZIP Area
4,071
Density / Sq Mi
$65,342
Median Household Income
$37,303
Median Earnings
$1,139
Median Rent
$234,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Six one-bedroom residences accompany two office suites, shared laundry facilities, and basement storage.
Where is this mixed-use property located?
The property is located at 7654 S Harlem Ave Bridgeview, IL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Six one‑bedroom, one‑bath apartments and two office suites of approximately 530 square feet each; All‑brick building with 7,400 square feet; built in 1969; Radiant floor heating, sleeve air conditioning, refrigerator, and stove/oven in each apartment
