3112 W Cermak Road
Chicago, IL 60623

Sold

Sold for $475,000 on Jul 1, 2025

Description

Long-time owner looking to sell to the right buyer. There is plenty of potential for increasing the income of this property-long-time tenants with low rental fees and the tenants paying their utility fees.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Closed
• Listing Price: $507,000
• County/Area: Cook County
• Zip Code: 60623
• Year Built: 1901
• Sq.Ft.: 2,880 sq ft
• Stories: 3
• Units: 5 units
• Zoning: COMMR
• # Of Apts: 4
• # Of Stores: 1
• # Of Tenants: 5
• Approximate Age: Older
• Building Area Total: 2880
• Built Before 1978 (Y/N): Yes
• Construction Materials: Brick
• Directions: Attention Investors looking for a cash cow! Look at this storefront plus 5 monthly rental units. The area is Little Village, and it is a superb commercial area surrounded by restaurants, grocery stores, and many small mom-and-pop stores.
• Electric: Service - 0 to 100 Amps
• Fire Protection: Alarm On Site, Smoke or Fire Protectors, Carbon Monoxide Detector(s)
• Foundation Details: Concrete Perimeter
• Geographic Locale: Chicago West
• Gross Income: 61800
• Gross Rent Multiplier: 9.28
• Gross Scheduled Income: 54600
• Heat/Ventilation: Forced Air
• Information: 24-Hr Notice Required
• Insurance Expense: 2000
• Insurance Expense Source: Broker Projection
• Lot Size Square Feet: 4960
• Main Type: Commercial Sale
• Original Rental Price: 1.5
• Property Sub Type: Mixed Use
• Rental Price: 1.5
• Retail SqFt: 900
• Roof: Rubber
• Roof Structure: Flat
• Tax Annual Amount: 4445.97
• Tax Year: 2023
• Tenant Pays: Electricity, Heat
• Total Actual Rent: 54600
• Total Monthly Income: 4550
• Trash Expense: 500
• Water Sewer Expense: 1000