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$1,099,000
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Property 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.
Full Property Details
Full Property Details for 5481 N Northwest Hwy
General
- Price: $1,099,000
- Taxes: $13,082 (2023)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12475279
- Updated: 9/24/2025
- Added to Site: 122 day(s) ago
Additional Information
- Security/Safety: Other
Location
- Area: CHI - Jefferson Park
- County: Cook
- Township: Jefferson
- Driving Directions: Northwest Hwy, South of Bryn Mawr Ave
- Location Details: Chicago Northwest
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Forced Air, Gas
Utilities
- Onsite: Electricity Available, Natural Gas Available, Sewer Connected, Water Available
Structural Information
- Stories/Levels: 2
- Square Feet: 6,920
- Current Bldg. Use: Commercial
- # of Stores: 1
- Year Built: 1926
- Built Before 1978: Yes
Unit Information
- # Tenants: 4
Lot Features
- Lot Size (Sq. Ft.): 3,750
- Lot Dimensions: 30 x 125
- Frontage: City Street
- Zoning: COMMR
Financial Considerations
- Insurance Fee: $9,800
- Operating Expenses: $23,458
- Security Deposit: Other
- Assessment Year: 1926
- Tax Amount: $13,082
- Tax Year: 2023
- Tenant Pays: Varies by Tenant
Disclosures and Reports
- Property ID: 13082000580000
Listed by RE/MAX Properties Northwest
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Schools
Schools serving 5481 N Northwest Hwy
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Hitch Elementary School 5625 North McVicker Avenue, Chicago, IL 60646 | PK-8 | 0.3 mi |
Taft High School 6530 West Bryn Mawr Avenue, Chicago, IL 60631 | 9-12 | 0.8 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 5481 N Northwest Hwy
Date
Details
Price
Change
Source
9/18/2025
Listed
$1,099,000
999%
MLS
2/27/2009
Sold
$100,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 5481 N Northwest Hwy
Year
Property Taxes
Change
Tax Assessment
Change
2023
$13,082
3%
$62,003
—
2022
$12,753
2%
$62,003
—
2021
$12,468
52%
$62,003
68%
2020
$8,214
-2%
$36,872
-12%
2019
$8,418
2%
$41,900
—
2018
$8,277
-26%
$41,900
-20%
2017
$11,205
7%
$52,052
—
2016
$10,425
9%
$52,052
—
2015
$9,538
7%
$52,052
8%
2014
$8,903
2%
$47,983
—
2013
$8,727
1%
$47,983
—
2012
$8,610
—
$47,983
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 5481 N Northwest Hwy
5481 N Northwest Highway, Chicago, IL 60630 (MLS# 12475279) is a Commercial property. 5481 N Northwest Highway is currently listed for $1,099,000 and was received on September 18, 2025. Want to learn more about 5481 N Northwest Highway? Do you have questions about finding other Commercial real estate for sale in Jefferson Park? You can browse all Jefferson Park real estate or contact a Coldwell Banker agent to request more information.

