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6114 W Roosevelt Road - 3-Unit Mixed-Use Property in Oak Park, Oak Park, IL

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6114 W Roosevelt Road - 3-Unit Mixed-Use Property in Oak Park

Oak Park, IL 60304-2356 - Oak Park Area Submarket

Property Type:Retail Sub Type:Storefront Retail/Residential Status:Existing Year Built:1920
Building Size:2,760 SF Land Area:.07 AC (3,049 SF)
For Sale Price:$199,900 Price/SF:$72.43
Cap Rate:9.90 %
Parking:2 Covered spaces are available; Ratio of .81/1,000 SF

Property Description: Storefront Retail/Residential

Sale Notes:
Fully occupied 3-unit mixed-use building of brick construction with a partial basement. The three units consist of an ~550 SF commercial space (hair salon @ $800/mo), one 2-bedroom/1-bathroom apartment ($800/mo) and one 4-bedroom/2-bathroom apartment ($1,490/mo). All 3 tenants are on month-to-month leases. The building features the original tin ceiling above the drop ceiling in the storefront, separate forced air furnaces for the first floor & a boiler for the 2nd floor unit as well as individual water heaters. Tenants pay all utilities except water. Additional improvements include a 2-car garage. Great visibility along Roosevelt Road with an average daily traffic count of 19,300. Recent streetscape improvements have attracted many new businesses to this part of Roosevelt Road. Property needs some work but has great cash flow.

I-290 to Austin, South to Roosevelt, West to the property on the north side of the street.

Chicago Real Estate Resources
David Salinas
(773) 327-9300

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