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    4369 N Elston Ave Chicago, IL 60641

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    4369 N Elston Ave Chicago, IL 60641

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    • Residential income homes
    • 5,034 SF
    • 0.07 lot acres
    For Sale
    $799,000
    View Listing →
    Mixed-Use Building in Irving Park For Sale
    $799,000
    5,000 SF

    Mixed-Use Building in Irving Park

    Meticulously maintained mixed-use building with income potential and redevelopment flexibility.

    4369 N Elston Avenue, Chicago, IL 60641
    View Listing
    Property ID
    US28-1092166
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hock Shop / Bar & Pub

    Property Details for 4369 N Elston Ave

    Year built
    1924
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.07 lot acres
    Property size
    5,034 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    13-15-405-013
    APU
    1315405013

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $801,000
      Market price range: $801k - $1.32M
      AI Estimate
      $634,000
      Market price range: $634k - $896k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,055,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,205,000
      Change: +14% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $920,000
      Change: -13% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7284
    Latitude
    41.9603
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $10,583
    $9,440
    $38,560
    $48,000
    -
    $94,400
    $385,600
    $480,000

    Comparable in this City

    • Value Estimation
      $510,000
      2,479 SF

      4222 Pulaski Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,479 SF
      4222 Pulaski Rd, Chicago, IL 60641-2591
      View Details
    • Value Estimation
      $545,000
      2,579 SF

      3744 Pulaski Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,579 SF
      3744 Pulaski Rd, Chicago, IL 60641-3137
      View Details
    • Value Estimation by Request
      1,700 SF

      4218 Pulaski Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,700 SF
      4218 Pulaski Rd, Chicago, IL 60641-2775
      View Details
    • Value Estimation
      $600,000
      3,517 SF

      5219 Eddy St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,517 SF
      5219 Eddy St, Chicago, IL 60641-3309
      View Details
    • Value Estimation
      $585,000
      2,800 SF

      5119 Grace St, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,800 SF
      5119 Grace St, Chicago, IL 60641-3453
      View Details
    • Value Estimation
      $595,000
      2,932 SF

      4317 Keeler Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,932 SF
      4317 Keeler Ave, Chicago, IL 60641-2113
      View Details

    Similar Nearby for Sale

    • $775,000

      Mixed-Use Building with Retail and Apartments

      Mixed-use property featuring retail spaces and residential units in Chicago.
      3012 N Laramie Ave, Chicago, IL 60641
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      5,705 SF

      Belmont Cragin Multifamily Investment Opportunity

      Well-maintained 7-unit building with income potential in Belmont Cragin.
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      0.09 Acres

      Six-Unit Corner Property in Chicago

      Two buildings with parking near shops, restaurants, and transportation.
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    • $1,350,000

      Mixed-Use Investment in Irving Park

      Renovated mixed-use property with income upside in Chicago's Irving Park.
      4203 N Pulaski Rd, Chicago, IL 60641
      View Details
    • Contact for pricing

      Six-Unit Corner Property in Chicago

      Two buildings with parking near shops, restaurants, and transportation.
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    • Contact for pricing

      Updated Two-Unit Building in Portage Park

      Updated 2-flat with modern amenities in a desirable location.
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    Similar Nearby for Lease

    • $19 SF/Yr

      Updated Storefront Near Grayland Metra

      Recently updated storefront near Grayland Metra stop, suitable for office.
      3922 N Milwaukee Ave, Chicago, IL 60641
      View Details
    • $18 SF/Yr

      Move-in Ready Office Building For Lease

      2,300 SF office building with parking, ideal for businesses.
      4220 W Montrose Ave, Chicago, IL 60641
      View Details
    • Contact for pricing
      1,620 SF

      Six Corners Retail Space Available

      Multiple retail spaces available at the historic Six Corners intersection.
      4015 N Milwaukee Ave, Chicago, IL 60641
      View Details
    • $11 SF/Yr

      Avondale Warehouse/Industrial Space For Lease

      9,000 SF clear-span industrial/warehouse space in Avondale, Chicago.
      3350 N Elston Ave, Chicago, IL 60641
      View Details
    • $16 SF/Yr

      Milwaukee Avenue Commercial Space

      Prime commercial space suitable for office, retail, or creative uses.
      4204 N Milwaukee Ave, Chicago, IL 60641
      View Details
    • Contact for pricing

      Commercial Space in Chicago, IL

      Commercial space for rent in Chicago, Illinois.
      3411 N Milwaukee Ave, Chicago, IL 60641
      View Details
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    Chicago, IL 60641
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    4369 N Elston Ave, Chicago, IL, 60641

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