5481 N Northwest Hwy

$1,099,000
Price
Beds
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

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...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.

Property Details for 5481 North Northwest Highway

Area
CHI - Jefferson Park
Township
Jefferson
Air Conditioning Type
Central Air
Zoning
COMMR
LISTING UPDATED: 09/24/2025 12:07 AM

Property Details for 5481 North Northwest Highway

StatusActive
MLS #12475279
Days on Market89
Taxes$13,082 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1926
Lot Size0.09 AC / 3,750 SF
CountyCook County

Location

Listing Courtesy of RE/MAX Properties Northwest
Add your commute

Building Information for 5481 North Northwest Highway

Stories2Residences4Year Built1926Lot Size0.09 AC / 3,750 SF

Payment Calculator

$6,521 per month

30 year fixed, 6.28% Interest

Principal and Interest

$5,431

Property Taxes

$1,090

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 5481 North Northwest Highway

General Information
Addtl Parking Information
  • Indoor Parking: 1-5 Spaces,Attached
Location and General Information
  • Frontage Type: City Street
  • Geographic Locale: Chicago Northwest
  • Information: 48-Hr Notice Required
Taxes and HOA Information
  • Estimated Tax/Sf: 0
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Air
  • Electric: Circuit Breakers
  • Heat/Ventilation: Forced Air,Gas
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 3
Utilities / Equipment
  • Utilities: Electricity Available, Natural Gas Available, Sewer Connected, Water Available
Property/Lot Information
  • Tenant Pays: Varies by Tenant
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 30X125
  • Lot Size Square Feet: 3750.0
  • Stories: 2
  • Fire Protection: Other
  • Building Area Total: 6920
  • # Of Offices: 0
  • # Of Stores: 1
  • Property Sub Type: Mixed Use
  • MRD_UNC: No
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 60
  • Estimated Cam/Sf: 0
Miscellaneous
  • Current Use: Commercial
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 4
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $94,800.00
  • Gross Scheduled Income: $94,800.00
  • Insurance Expense: $9,800.00
  • Known Encumbrances: None Known
  • Total Annual Expense Source: Owner Projection
  • Total Monthly Income: 7900
  • Net Operating Income: $71,342.00
  • Operating Expense: $23,458.00
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $576.00

Property History for 5481 North Northwest Highway

DateEvent & SourcePriceAppreciation
Sep 18, 2025

Cancelled

MRED #12431895

$1,149,000
Sep 18, 2025

Listed (Active)

MRED #12475279

$1,099,000
Aug 6, 2025

Listed (Active)

MRED #12431895

$1,149,000
Jun 15, 2020

Expired

MRED #10667436

$699,000
Mar 13, 2020

Listed (Active)

MRED #10667436

$699,000
Nov 2, 2019

Expired

MRED #10168642

$699,000
Aug 16, 2019

Listed (Active)

MRED #10168642

$699,000
Jan 9, 2019

Cancelled

MRED #10120557

$729,000
Oct 23, 2018

Listed (Active)

MRED #10120557

$729,000
Oct 19, 2016

Cancelled

MRED #09344263

$849,900
Sep 16, 2016

Listed (Active)

MRED #09344263

$849,900
Feb 27, 2009

Sold (Public Record)

Public Record #264015264

$100,000

-22.0% / yr

Sep 24, 2002

Sold (Public Record)

Public Record #101492820

$492,500
DateEvent & SourcePrice
09/18/2025

Cancelled

MRED #12431895

$1,149,000
09/18/2025

Listed (Active)

MRED #12475279

$1,099,000
08/06/2025

Listed (Active)

MRED #12431895

$1,149,000
06/15/2020

Expired

MRED #10667436

$699,000
03/13/2020

Listed (Active)

MRED #10667436

$699,000
11/02/2019

Expired

MRED #10168642

$699,000
08/16/2019

Listed (Active)

MRED #10168642

$699,000
01/09/2019

Cancelled

MRED #10120557

$729,000
10/23/2018

Listed (Active)

MRED #10120557

$729,000
10/19/2016

Cancelled

MRED #09344263

$849,900
09/16/2016

Listed (Active)

MRED #09344263

$849,900
02/27/2009

Sold (Public Record)

Public Record #264015264

$100,000

-22.0% / yr

09/24/2002

Sold (Public Record)

Public Record #101492820

$492,500

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 5481 North Northwest Highway

Taxable ValueLand$7,503Additions$54,500Total$62,003
Tax Record2023$13,082 ($1,090 / month)
Home Facts
Baths4.5Total Finished SqFt6,296 SqFtAbove Grade Finished SqFt6,296 SqFtStories2Lot Size3,750 SqFtStyleMulti-Family Res (5+ Units)Year Built1924CountyCOOKAPN13-08-200-058

Schools near 5481 North Northwest Highway

This home is within Chicago Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 7 to 12
Public - PK to 3
Public - 9 to 12
Rating
School
Distance
Hitch Elementary School
PublicPK to 8

Taft High School
Public7 to 12

Beard Elementary School
PublicPK to 3

Vaughn Occupational High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Neighborhood Map and Transit

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5481 North Northwest Highway is a mixed use property for sale in Chicago, IL 60630. This property was listed for sale on September 18, 2025 by RE/MAX Properties Northwest, it's currently listed at $1,099,000. It has been on the market for a total of 89 days and was last sold on February 27, 2009. This listing's school district is Chicago Public Schools. Nearby schools include Hitch Elementary School, Taft High School and Beard Elementary School. 5481 North Northwest Highway is a 0-bed, 0-bath, mixed use property built in 1926.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX Properties Northwest

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 09/24/2025 12:07 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.