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$ 1,100,000
Est. payment | /mo
6,678 SqFt
$ 1,100,000
Est. payment | /mo
6,678 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 6,678 sqft
Price per Sqft $164
MLS Listing ID 12436814
Year Built 1881
Annual Tax Amount $12,099
Tax Year 2024
Lot Dimensions 40 x 114
Property Sub-Type Mixed Use
Property Description
First time for sale in 47 years High exposure Taylor/Western T-intersection. Double storefront with 4 residential units and 2 oversized 2-car garages with very high ceilings. Located in the UIC West Campus "Tri-Taylor" neighborhood. Roosevelt Rd is directly south and I-290 is directly north. The Illinois Medical District and the 4 main hospitals i.e. Rush, UIC, Cook County and West Side VA are walking distance directly east. As well as the UIC medical, pharmacy, dental and nursing schools. There are (3) buses Western, Harrison and Roosevelt. And Blue line EL. All in walking distance. And 5 minutes to downtown. This is a huge rental area, due to everything above, and maintains almost full occupancy at all times. With reliable annual rental increases. Very high demand with limited supply. Perfect opportunity for an armchair investor or and owner/operator. Rapidly developing neighborhood with new construction popping up everywhere The storefronts are newly remodeled and rented ($1600) and ($1400) as well as one of the four residential units. ($1600) The other 3 residential units, are older rehab ($1400) and have long term tenants at below market rents. (4) Garage spots rent for $100/ea. Garage is under-rented Current gross income = $9200/mo. ($110,400). Full market rent in current condition = $10,400/mo. ($124,800). Cosmetic upgrade of the (3) older units will = $11,400/mo +/- ($136,800). ^^^ The above numbers are achievable 12-24 months There is also a standing height double basement for storage or other use. As well as a built out interstitial area between building and garage for extra storage/use. Enclosed porches
Location
State IL
County Cook
Area Chi - Near West Side
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Building
Dwelling Type Mixed Use
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Listed by Michael Ramstedt of Art of Real Estate LLC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "