Mixed-Use Building with
For Sale
Contact for pricing
8647 Ogden Ave, Lyons, IL 60534
Ground-level commercial space is paired with a three-bedroom apartment above, creating a flexible live-work configuration.
Property Size3,672 SF
Price / SF$157.68
Days on Market151
Property Features for 8647 Ogden Ave
General Information
Standard status
Active
Size
3,672 SF
Class
C
Property subtype
Mixed Use
Building Details
Year Built
1926
Buildings
1
Stories
2
Listing Agency:
USA Commercial Group
Listed By:
Darius Jusaitis · License #475188938
Source:
Crexi
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 9:17PM
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 USA Commercial Group
Investment Insights
Based on property information with market context.
Located at 8647 Ogden Avenue, this 3,672 SF mixed-use building combines a commercial first floor with a three-bedroom apartment on the second level. The lower level is fully finished for business use and can accommodate retail, office, medical, wellness, or other professional operations. The property was built in 1926 and occupies a 0.11-acre site with 13 on-site parking spaces.
The building sits within Lyons’ B-1 Business District on Ogden Avenue, a commercial corridor identified for high visibility. Access to I-55, I-290, and Downtown Chicago supports connectivity for customers and employees. The property’s combination of commercial and residential space provides a distinct configuration for an owner-user or an investor seeking a mixed-use asset.
The building sits within Lyons’ B-1 Business District on Ogden Avenue, a commercial corridor identified for high visibility. Access to I-55, I-290, and Downtown Chicago supports connectivity for customers and employees. The property’s combination of commercial and residential space provides a distinct configuration for an owner-user or an investor seeking a mixed-use asset.
Key Highlights
- 3,672 SF mixed‑use building on a 0.11‑acre site
- First floor fully built out for commercial use
- Second‑floor three‑bedroom 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
$50,968
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
8.80%
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%
$1,019,360
$1.0M
Cap Rate 7%
$728,114
$728.1K
Cap Rate 9%
$566,311
$566.3K
Market Conditions
NOI Build-Up for 3,672 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
$79.3K $21.60/SF
− Vacancy
−$6.5K −$1.77/SF
EGI
$72.8K $19.83/SF
− OpEx
−$21.8K −$5.95/SF
NOI
$51.0K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,019,360
Cap Rate 7%
$728,114
Cap Rate 9%
$566,311
Alternative Uses
Best Use
Mixed Use
$885.2K
$774.6K – $1.03M
NOI $61,965 @ 7.0% cap · market cap 10.70%
Second Best
Retail
$728.1K
$637.1K – $849.5K
NOI $50,968 @ 7.0% cap · market cap 8.80%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,744 @ 7.0% cap · market cap 15.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
80k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 78%
Shops & Services 21%
Hotels & Casinos 1%
Wendy's
Dining
24,360 visits/mo
0.2 miles
Starbucks
Dining
14,360 visits/mo
0.3 miles
Burger King
Dining
11,286 visits/mo
0.2 miles
Mobil
Shops & Services
9,676 visits/mo
0.0 miles
Jimmy John's
Dining
6,076 visits/mo
0.3 miles
Demographics for 60534, IL
10,749
Population
4,461
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
83%
High-School Grad
1.9 sq mi
ZIP Area
5,657
Density / Sq Mi
$63,827
Median Household Income
$41,328
Median Earnings
$1,149
Median Rent
$243,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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 - Ground-level commercial space is paired with a three-bedroom apartment above, creating a flexible live-work configuration.
Where is this mixed-use property located?
The property is located at 8647 Ogden Ave Lyons, IL.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 3,672 SF mixed‑use building on a 0.11‑acre site; First floor fully built out for commercial use; Second‑floor three‑bedroom apartment
