3865 N Elston Ave
Chicago, IL 60618
Irving Park
HIGHLIGHTS
- Fully rented, cash-flowing property.
- Short-term leases provide flexibility for investor-buyer to renovate and re-lease at their own pace
- Existing leases are significantly below market.
- increase gross operating income by 60%+ after renovations and raising rents to current market levels.
- property’s mixed-use classification is assessed at 10% (residential) instead of 25% (commercial), which keeps RE taxes reasonable.
- Convenient access to public transportation
OVERVIEW
Value-Add Mixed Use Investment
Fully Rented, Cash Flowing Property
Commercial with Residential Apartments Above
Total Building Area: 9,661 SF
1st Floor: 5,921 SF (Commercial Space)
2nd Floor: Two (2) 2-Bedroom, 1-Bathroom Apartments
3rd Floor: Two (2) 2-Bedroom, 1-Bathroom Apartments
2 Drive-in Doors (9’11”H X 11’9”W) [Commercial Space]
FOR SALE DETAILS
PRICE
$1,350,000 USD
PRICE/SF
$140 USD /SF
# OF UNITS
5
PRICE/UNIT
$270,000
CAP RATE
Request Cap Rate
% LEASED
100%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Mid-Rise
PROPERTY SUBTYPE
Apartments
ADD'L SUBTYPES
Storefront Retail/Residential, Office/Residential
TOTAL BUILDING SIZE
-
STORIES
3
YEAR BUILT
1964
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.15 AC
LAND SF
6,750 SF
ZONING
C1-1
APN/PARCEL ID
13-23-201-026-0000,13-23-201-027-0000
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847-732-2957
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847-732-2957
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