Mixed-Use Apartment
New
For Sale
$1,100,000
7654 S Harlem Avenue, Bridgeview, IL 60455
Commercial Sale, Bridgeview, IL
Property Size7,400 SF
Lot Size0.28 Acres
Price / SF$148.65
Days on Market2
Property Features for 7654 S Harlem Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
Harlem Ave to address. Property is on the West side of the street at the stop light. DO NOT ENTER THE PROPERTY WITHOUT A CONFIRMED APPOINTMENT.
Subdivision
Bridgeview
Standard status
Active
APN
18254260100000
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16362
Amenities
on-site laundry
Building Details
Year built
1969
Floors in Building
2
Number of units
8
Building materials
Brick
Roof type
Composition
Listing Agency:
Century 21 Circle · Century 21 Real Estate
(708) 361-0800
Listed By:
Mark Vaccaro · License #471021485
(708) 398-6400
Added: Sep 24
Last Checked: Sep 25 at 4:06AM
MLS# 12766397
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1969 brick mixed-use property contains an estimated 7,400+ square feet, with two office spaces of roughly 530 square feet apiece, each equipped with a restroom. The residential portion comprises six one-bedroom, one-bath apartments. Units have radiant floor heat, wall-sleeve air conditioning, a refrigerator, and a stove/oven. Residents pay their own electricity, and a shared laundry area includes a washer, dryer, and wash tub. An unfinished basement provides storage, including designated areas for two apartments.
The building is at 7654 S Harlem Avenue in Bridgeview, on a signalized corner along Harlem Avenue, with public transportation nearby. Zoning is COMMR.
Five of the six apartments are occupied. The roof has been replaced; the vinyl windows are approximately 15 years old, and the water heater is approximately 12 years old. Basement waterproofing and a new asphalt parking lot were completed in 2025.
The building is at 7654 S Harlem Avenue in Bridgeview, on a signalized corner along Harlem Avenue, with public transportation nearby. Zoning is COMMR.
Five of the six apartments are occupied. The roof has been replaced; the vinyl windows are approximately 15 years old, and the water heater is approximately 12 years old. Basement waterproofing and a new asphalt parking lot were completed in 2025.
Key Highlights
- Estimated 7,400+ square feet on a 0.2779‑acre lot
- Six 1‑bedroom, 1‑bath apartments; 5 of 6 are occupied
- Two office spaces, each roughly 530 sq ft with a restroom
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
Lease Details
6
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Two office suites share the property with six one-bedroom apartments.
Where is this mixed-use property located?
The property is located at 7654 S Harlem Avenue 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: Estimated 7,400+ square feet on a 0.2779‑acre lot; Six 1‑bedroom, 1‑bath apartments; 5 of 6 are occupied; Two office spaces, each roughly 530 sq ft with a restroom
