Business for Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Chicago, IL 60618

Description

PROPERTY OVERVIEW 3905 North Western Avenue is a premier, newer construction, mixed-use asset located in the heart of Chicago’s highly sought-after North Center neighborhood. Positioned along a major commercial and transit corridor, the property benefits from strong visibility, walkability, and long-term demand drivers that distinguish North Center as one of the city’s most stable and family-oriented submarkets. The asset consists of 30 luxury apartment units and 4 street-level commercial spaces with long term tenants, providing a balanced blend of residential income supported by neighborhood-serving retail. The building’s modern construction, with elevators, and mixed-use configuration align with the surrounding streetscape and reinforce its role as a long-term infill asset in a fully developed neighborhood with limited new supply. North Center is widely recognized for its strong school systems, high household incomes, and low historical vacancy, making it one of Chicago’s most defensive residential markets. The property is located near the intersection of Western Avenue and Byron Street, offering residents direct access to public transportation, grocery-anchored retail, dining, and everyday conveniences. CTA Brown Line stations at Irving Park and Western, along with multiple bus routes, provide efficient connectivity to downtown and surrounding employment hubs, further strengthening renter demand. UNIT MIX The residential component is intentionally weighted toward larger-format floor plans that cater to North Center’s core renter demographic of families, professionals, and long-term residents seeking neighborhood stability and quality housing. 12 UNITS: 2 BEDROOM / 2 BATHROOM 18 UNITS: 3 BEDROOM / 2 BATHROOM All residential units feature private balconies and modern interior finishes consistent with contemporary urban living standards. COMMERCIAL COMPONENT The property includes 4 street-level commercial units situated along Western Avenue, one of the neighborhood’

Market Context

This mixed use in Chicago, IL is listed for sale. It is offered at an approximate 6.1% capitalization rate, a key benchmark for income-producing mixed use assets. It has been on the market for 68 days. Compare it against other mixed use listings for sale in Chicago, IL — <a href="/search/sale/mixed-use/illinois/chicago">view the full market</a>.

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