Properties

Features
: Central Air
Address Map
US
IL
Cook
Chicago
60614
Armitage
1003
Avenue
W88° 22' 32.1''
N41° 52' 32''
Sheffield to Armitage, West to 1003
CHI - Lincoln Park
CHI - Lincoln Park
W
W
Additional Information
5009
: Concrete , Stone
Other
Other
: Concrete Perimeter , Stone
25*125
5
5
3
Citywide Real Estate
Junzhou Cui
Financial
30363
Listing Information
876906
15473
MRED
Listing Information
Active
2024-09-09T03:31:01Z
2023-11-12T06:06:10Z
Property Description

Don’t miss this extraordinary and rare investment opportunity with a 6.86% CAP RATE in the highly sought-after Lincoln Park neighborhood! This fully stabilized, recently gut-renovated mixed-use property offers a premier investment experience, featuring four residential apartments and one retail space. Strategically located on a desirable street, the property boasts a prime position directly across from the Chicago Transit Authority’s (CTA) Brown Line L Train Stop at Armitage. With 100% occupancy and strong rental income, this investment presents the potential for rent increases while keeping operating expenses low. The commercial tenant covers 40% of CAM (including property tax and insurance), while residential tenants pay for utilities (gas and electricity). Significant recent upgrades, such as a new roof and AC condensers installed in 2022, contribute to the property’s long-term value. Each residential unit features hardwood floors, in-unit laundry, quartz countertops, stainless steel appliances, and individual HVAC units, ensuring maximum comfort and appeal for tenants. Take advantage of this exceptional mixed-use property in the heart of Lincoln Park, offering stability, growth potential, and an impressive return on investment for discerning investors.

Commercial Sale For Sale

, Chicago, Cook County, Illinois 60614, USA

$2,799,900
Listing ID#11925147
QR Code
Basic Details
Property Type : Commercial Sale
Listing Type : For Sale
Listing ID : 11925147
Price : $2,799,900
Year Built : 1886
Listing Status : Active
Property Sub Type : Apts/Stores
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