Mixed-Use Investment Opportunity in
7701-7757 W Lawrence Avenue Norridge, IL 60706
For Sale
$4,900,000
COMMERCIAL - Norridge, IL
Property Size21,000 SF
Lot Size1.94 Acres
Price / SF$233.33
Days on Market1164
Property Features for 7701-7757 W Lawrence Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RTAIL
Standard status
Active
APN
12131150170000
Size
21,000 SF
Lot size
1.94 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
129298
Utilities
Cooling system
Central Air
Building Details
Year built
1960
Floors in Building
2
Number of units
25
Building materials
Brick
Listing Agency:
RE/MAX Suburban
(847) 367-8686
Listed By:
Jason Bitton · License #475170841
(847) 259-0202
Added: May 23, 2023
Changed: May 15
Last Checked: Jul 29 at 5:06AM
MLS# 11791458
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 is a mixed-use investment opportunity located in Norridge, Illinois. The portfolio consists of three buildings featuring a mix of residential and retail tenants. There are 16 apartments, including 8 two-bedroom and 8 one-bedroom units, along with 8 ground-floor retail units. Additionally, there is a 21,000 square foot free-standing retail building, with 15,000 square feet on the main floor and a 6,000 square foot basement featuring racking-height ceilings. The property includes ample on-site parking. The lot size is 1.938 acres.
Key Highlights
- High‑performing mixed‑use investment property.
- Portfolio includes 16 apartments and 8 retail units.
- 21,000 SF free‑standing retail building.
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $630.0k | $30.00 |
| − Vacancy | −$63.0k | −$3.00 |
| EGI | $567.0k | $27.00 |
| − OpEx | −$212.6k | −$10.13 |
| NOI | $354.4k | $16.88 |
21,000 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$5.06M
$4.43M – $5.91M
NOI $354,375 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$4.60M
$4.02M – $5.37M
NOI $321,912 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$9.90M
$8.66M – $11.55M
NOI $693,101 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - High-performing mixed-use portfolio with residential and retail units.
Where is this mixed-use property located?
The property is located at 7701-7757 W Lawrence Avenue Norridge, IL.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: High‑performing mixed‑use investment property.; Portfolio includes 16 apartments and 8 retail units.; **21,000 SF free‑standing retail building.**
