5481 N Northwest Highway
Chicago, IL 60630

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Description

Your opportunity to own an income generating, fully leased mixed-use building in the heart of Gladstone Park. Located on high-visibility Northwest Highway directly across from the Gladstone Park Metra station, this property offers a turnkey investment in a great location. The building includes one commercial space with a full basement, currently operating as a restaurant/cafe, plus three residential apartments and an attached garage. Residential units include one spacious 2 bed/2 bath with the garage and two 1 bed/1bath units. This transit-oriented asset features stable cash flow and a reliable tenant base - an ideal opportunity for investors seeking long-term income in a well-connected Northwest Side location. All residential units have received new HVAC, plumbing, electrical, and water heaters within the past five years. The commercial space features updated plumbing, electric, and HVAC systems (2009) along with a newer water heater. The rubber-coated roof was recoated in 2020, ensuring long-term durability and reduced maintenance costs. Nearby parks, schools, and walkable residential blocks enhance the area's livability, while the building's proximity to downtown Chicago and O'Hare International Airport further amplifies its appeal. This property represents a rare opportunity to invest in a stabilized, mixed-use asset in one of Chicago's most connected and resilient neighborhoods.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60630
• Year Built: 1926
• Sq.Ft.: 6,920 sq ft
• Stories: 2
• Units: 4 units
• Zoning: COMMR
• # Of Apts: 3
• # Of Stores: 1
• # Of Tenants: 4
• Approximate Age: Older
• Building Area Total: 6920
• Built Before 1978 (Y/N): Yes
• Cooling: Central Air
• Directions: Northwest Hwy, South of Bryn Mawr Ave
• Electric: Circuit Breakers
• Geographic Locale: Chicago Northwest
• Gross Income: 94800
• Gross Rent Multiplier: 12.1
• Gross Scheduled Income: 94800
• Heat/Ventilation: Forced Air, Gas
• Indoor Parking: 1-5 Spaces, Attached
• Information: 48-Hr Notice Required
• Insurance Expense: 9800
• Known Encumbrances: None Known
• Lot Size Square Feet: 3750
• Main Type: Commercial Sale
• Operating Expense: 23458
• Ownership Type: Corporation
• Property Sub Type: Mixed Use
• Tax Annual Amount: 13082
• Tax Year: 2023
• Tenant Pays: Varies by Tenant
• Total Annual Expense Source: Owner Projection
• Total Monthly Income: 7900
• Township: Jefferson
• Utilities: Electric to Site, Natural Gas Available, Sewer Connected, Water Available
• Water Sewer Expense: 576