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Listed by Michael Ramstedtof Art of Real Estate LLC
$ 1,200,000
Est. payment /mo
Active
1012 S Western Avenue Chicago, IL 60612
6,678 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 6,678 sqft
Price per Sqft $179
MLS Listing ID 12436814
Year Built 1881
Annual Tax Amount $9,315
Tax Year 2023
Lot Dimensions 45 x 100
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. Perfect opportunity for an armchair investor or and owner/operator. Rapidly developing neighborhood with new construction popping up everywhere The storefronts are newly remodeled as well as one of the four residential units. The other 3 have long term tenants at below market rents. Gross income reflects assumed market rent for storefronts. We have left them empty for the moment for an owner/operator, but can also rent out, for a straight investor. Gross income of $8500/mo is roughly still $1500+ under market rent and this building should easily generate $10,000+/mo in rents. There is also a standing height double basement for storage or other use. Full occupancy at all times. This is truly a one time, once in a generation purchase opportunity
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Exterior
View Y/N true
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