7701–7757 W Lawrence Avenue, Norridge, IL 607 7701–7757 W Lawrence Avenue 16 Unit Apartment Building $6,698,545 CAD ($418,659 CAD/Unit) 7.78% Cap Rate Norridge, IL 60706

A rare opportunity to acquire a high-performing mixed-use investment in the heart of the Village of Norridge, IL. This three-building portfolio features a healthy mix of residential and retail tenants, with strong cash flow and clear value-add potential.
3 contiguous parcels: 12-13-115-017-0000, 12-13-115-018-0000, 12-13-115-019-0000
16 Apartments: (8 two-bedroom, 8 one-bedroom)
8 Retail Units (ground floor)
21,000 SF Free-Standing Retail Building
15,000 SF main floor
6,000 SF basement with racking-height ceilings
Ample on-site parking
Vacancy: One retail space available, projected at $6,500/month ($78,000 annually).
Residential rents: Below market; potential to increase by $146,700 annually.
Current Income & Expenses
Gross Income (Current) $584,830
Gross Income (Pro Forma) $809,530
Main Operating Expenses (2024) $203,757
  • Taxes $129,298
  • Insurance $30,190
  • Utilities $29,844
  • Snow, Garbage, Pest, Maintenance $14,425
Net Operating Income (Current) $381,073
Net Operating Income (Pro Forma) $605,773
Value-Add Potential
Residential Upside
Current apartment income: $155,220/year
Pro forma apartment income: $302,400/year
Market rents assumed:
1BR: $1,500/month
2BR: $1,650/month
No major renovations required to achieve market levels
Retail Upside
One unit currently under construction, with confirmed tenant interest at $6,500/month
Additional upside through future lease adjustments at renewal
Investment Highlights
Fully stabilized asset with built-in upside
Strong commercial tenant mix + long-term residential renters
21,000 SF freestanding retail building anchors portfolio stability
Prime suburban-Chicago location with strong demand and development potential
Offered at $600K below recent appraisal
?? Summary: This portfolio combines stable cash flow with clear opportunities to unlock higher returns through strategic rent adjustments and lease optimization. Positioned in a high-demand suburban-Chicago market, it offers both immediate income and long-term appreciation potential.