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3-LOT PROPERTY / NEW PRICE / 7.93% CAP RATE 5620 N Western Ave 8,000 SF 100% Leased Retail Building Chicago, IL 60659 $1,149,000 ($143.63/SF) 7.88% Cap Rate
INVESTMENT HIGHLIGHTS
- Ideal for owner user, many possibilities
- Three pins, three properties in one, 5619---lot, 5620---three story with store+two 2BR apts, 5622---single story flexicore, can add more stories
- Three lots with 75' frontage with a traffic count of 30k cars per day
EXECUTIVE SUMMARY
3 LOT PROPERTY FOR SALE
7.88% CAP RATE
5618-20-22 N Western Ave.,Chicago, Illinois 60659
(just a little north of Bryn Mawr)
HERE IS THE VIDEO LINK: https://youtu.be/ShBBSsm6ziQ
WELCOME TO ARCADIA TERRACE---unique opportunity to acquire a FULLY occupied THREE-lot property
Investment/owner property with a tremendous traffic count and C1-2 ZONING for many businesses.
ALSO IDEAL FOR RE-DEVELOPMENT—-taxes have been reduced
From left to right it consists of: 5618-gated parking lot/5620 three story mixed use
ALL NEW REHAB-- with a store, 200 amp panel, front-back office plus three private offices
Upstairs has two 2-BR apartments, 100 amp panel, with separate dining
All units with separate NEW HVAC plus hardwood floors plus all NEW steel back decks
NEW hot water tank, NEWER roof-5 years, rebuilt parapets, tuckpointed
5622 is a free standing 1 story flexi-core commercial garage---levels can be added---200-amp 3-phase+200amp panel.
Tenants in 5620 all expire in 2026, 5620+18 are MTM, rents---- 7.88% cap rate
Adjacent to the booming Devon corridor along with Lincoln Square, Ravenswood, Edgewater.
Easy access to public transportation and Lake Shore Drive.
C1-2 zoning / 30,000 cars per day traffic count
Three 2755/SF LOTS or 8265/SF total / 75’ frontage x 110’ deep
ABOUT 8000 TOTAL BUILDING SQUARE FEET
5618 enclosed parking lot, gated on both ends
LOT
25’X110’ / 2755SF
5620 3-story mixed use, store + 2 apartments---about 4800BSF
STORE --about 1750SF
front 33x18 / ADA bathroom 8x7
back 11x37
office 11x9
office 11x9
office 11x9
APARTMENT-2nd floor---1250SF
Living 17x12
Dining 15x10
Kitchen 12x10
BR1 15x10
BR2 13x10
APARTMENT-3RD floor---1250SF
Living 17x12
Dining 15x10
Kitchen 12x10
BR1 15x10
BR2 13x10
Garage 25x40 (storage for 5622, connected)
5622 single story commercial garage
INSIDE GARAGE TYPE SPACE
25X110 space / 2750SF total (+1000SF from the back of 5620)
TAXES 2024 --- now reduced
5618 13-01-432-027-0000 $3,804.37 (bill says 5619, incorrect)
5620 13-01-432-026-0000 $11,187.73
5622 13-01-432-025-0000 $9,118.12
TOTAL $24,110.22
7.88% CAP RATE FOR 2026
7.88% CAP RATE
5618-20-22 N Western Ave.,Chicago, Illinois 60659
(just a little north of Bryn Mawr)
HERE IS THE VIDEO LINK: https://youtu.be/ShBBSsm6ziQ
WELCOME TO ARCADIA TERRACE---unique opportunity to acquire a FULLY occupied THREE-lot property
Investment/owner property with a tremendous traffic count and C1-2 ZONING for many businesses.
ALSO IDEAL FOR RE-DEVELOPMENT—-taxes have been reduced
From left to right it consists of: 5618-gated parking lot/5620 three story mixed use
ALL NEW REHAB-- with a store, 200 amp panel, front-back office plus three private offices
Upstairs has two 2-BR apartments, 100 amp panel, with separate dining
All units with separate NEW HVAC plus hardwood floors plus all NEW steel back decks
NEW hot water tank, NEWER roof-5 years, rebuilt parapets, tuckpointed
5622 is a free standing 1 story flexi-core commercial garage---levels can be added---200-amp 3-phase+200amp panel.
Tenants in 5620 all expire in 2026, 5620+18 are MTM, rents---- 7.88% cap rate
Adjacent to the booming Devon corridor along with Lincoln Square, Ravenswood, Edgewater.
Easy access to public transportation and Lake Shore Drive.
C1-2 zoning / 30,000 cars per day traffic count
Three 2755/SF LOTS or 8265/SF total / 75’ frontage x 110’ deep
ABOUT 8000 TOTAL BUILDING SQUARE FEET
5618 enclosed parking lot, gated on both ends
LOT
25’X110’ / 2755SF
5620 3-story mixed use, store + 2 apartments---about 4800BSF
STORE --about 1750SF
front 33x18 / ADA bathroom 8x7
back 11x37
office 11x9
office 11x9
office 11x9
APARTMENT-2nd floor---1250SF
Living 17x12
Dining 15x10
Kitchen 12x10
BR1 15x10
BR2 13x10
APARTMENT-3RD floor---1250SF
Living 17x12
Dining 15x10
Kitchen 12x10
BR1 15x10
BR2 13x10
Garage 25x40 (storage for 5622, connected)
5622 single story commercial garage
INSIDE GARAGE TYPE SPACE
25X110 space / 2750SF total (+1000SF from the back of 5620)
TAXES 2024 --- now reduced
5618 13-01-432-027-0000 $3,804.37 (bill says 5619, incorrect)
5620 13-01-432-026-0000 $11,187.73
5622 13-01-432-025-0000 $9,118.12
TOTAL $24,110.22
7.88% CAP RATE FOR 2026
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
Bulk/Portfolio Sale
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
8,000 SF
Building Class
C
Year Built
1934
Price
$1,149,000
Price Per SF
$143.63
Cap Rate
7.88%
NOI
$90,541
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
3.00
Lot Size
0.06 AC
Zoning
C1-2, Chicago - Commercial
Parking
6 Spaces (0.75 Spaces per 1,000 SF Leased)
Frontage
75’ on N Western Ave
AMENITIES
- Bus Line
- Fenced Lot
- Signalized Intersection
- Tenant Controlled HVAC
- Accent Lighting
- Balcony
Walk Score®
Very Walkable (83)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $66,680 | |
| Land Assessment | $58,301 | Total Assessment | $124,981 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$58,301
Improvements Assessment
$66,680
Total Assessment
$124,981
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3-LOT PROPERTY / NEW PRICE / 7.93% CAP RATE | 5620 N Western Ave
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