See all 24 photos
24 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
$1,250,000
Est. payment /mo
10,300 SqFt
UPDATED:
12/01/2024 06:06 AM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 10,300 sqft
Price per Sqft $121
MLS Listing ID 12213153
Year Built 1910
Annual Tax Amount $10,480
Tax Year 2023
Lot Dimensions 75 X 125
Property Description
Investment Summary The 2 Greystone buildings and dedicated parking lot are located in what many consider the best neighborhood in Chicago for investment right now. The near term appreciation is expected to be huge. The East Little Village/ West Pilsen neighborhood is the hottest up and coming in Chicago due to it's close proximity to Downtown Chicago along with the amenities of the public transportation, a diverse shopping district, along with the connection to the city's boulevard and park systems. Think "Logan Square South". Many buildings in the area are being rehabbed and several new construction projects have already begun. There is Pink Line EL train stop approximately 2 blocks from this location. Douglas Park, which is one block from the subject property, is a gem in the park system and hosts several music fests that have helped bring about positive economic change to areas on the north side of the city. Chicago has recently replaced much of the infrastructure in the neighborhood including water mains, sewer lines, sidewalks/ curbs, and added trees to the street city-scape in anticipation. Both residential and commercial rents are on the rise with tenants moving in from other parts of the city. This is expected to continue for the foreseeable future. Chicago, as a whole, also continues to experience people moving in from other parts of the country looking to become part of the rich and diverse employment opportunities the city has to offer. The subject property is fully stabilized and has been well maintained. The property features 3 adjoining properties. There are 2 grey stone mixed-use buildings and 1 vacant lot containing a 3 car garage. There 4 commercial tenants and 4 residential tenants occupancies. On the first floor is a 2 storefronts rented for artist use. The second and third floors contain 4-two bedroom apartments and 2-one bedroom apartments. Every unit on both floors are spacious, comfortable and easily rented. Each apartment has good sized bedrooms, which is a critical factor in renting in the city. All mechanicals have been updated. There are with full 6 HVAC systems and 2 units with just furnace systems. Every space is fully updated with newer kitchen and bath finishes. Residential tenants also enjoy shared outdoor space. There is a 7 outdoor, off-street parking parking spots and a 3-car garage for a total of 10 spots. There are 3 separate PIN's associated with this listing. This listing is part of a larger portfolio which consists of 4 buildings (8 Commercial / 16 Residential Units) and 6 vacant lots that are primarily located on the same block (2 double vacant lots are a block away). The seller group is doing principal management and are looking to retire. The other properties are available as active listings. Please contact the listing agent for more details.
Location
State IL
County Cook
Area Chi - South Lawndale
Interior
Cooling Central Air, Central Individual
Flooring Wood
Fireplace N
Exterior
Roof Type Membrane
Building
Dwelling Type Mixed Use
Level or Stories 3
Structure Type Brick
Read Less Info
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by James Mason • Mason Realty
GET MORE INFORMATION