5620 N Western Avenue
Chicago, IL 60659

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Description

ARCADIA TERRACE INVESTMENT OPPORTUNITY---FULLY occupied THREE-lot / THREE pin investment/owner property with a tremendous traffic count and C1-2 ZONING for many businesses. Rent increases coming in September. ALL TENANTS ARE ON YEARLY LEASES EXCEPT FOR 5822 WHICH IS M-T-M. From left to right it consists of: 5618-gated parking lot/5620 three story mixed use---ALL NEW REHAB-- with a store, 200 amp panel, front-back office plus three private offices, upstairs has two 2-BR apartments, 100 amp panel, with separate dining, all with separate NEW HVAC plus hardwood floors plus all NEW steel back decks, NEW hot water tank, NEWER roof-5 years, rebuilt parapets, tuckpointed/5622 is a free standing 1 story flexi-core commercial garage---levels can be added---200-amp 3-phase+200amp panel. Tenants in 5620 all expire in 2024, 5620+18 are MTM, rents. Just slightly north of Bryn Mawr and adjacent to the booming Devon corridor along with Lincoln Square, Ravenswood, Edgewater. Easy access to public transportation and Lake Shore Drive.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60659
• Year Built: 1938
• Sq.Ft.: 4,800 sq ft
• Stories: 3
• Units: 5 units
• Zoning: COMMR
• # Of Apts: 2
• # Of Dryers: 1
• # Of Offices: 1
• # Of Ranges: 2
• # Of Refrigs: 2
• # Of Stores: 1
• # Of Tenants: 5
• # Of Washers: 1
• Additional Parcels: Yes
• Approximate Age: Older
• Building Area Total: 4800
• Built Before 1978 (Y/N): Yes
• Cap Rate: 7.6
• Construction Materials: Brick
• Cooling: Central Air
• Directions: Just a little North or Bryn Mawr on the west side of the street
• Electric: Separate Meters, Service - 101 to 200 Amps, Three Phase
• Electric Expense Source: Combination
• Expense Year: 2024
• Flooring: Carpet, Wood
• Foundation Details: Concrete Perimeter
• Fuel Expense: 3150
• Fuel Expense Source: Actual
• Geographic Locale: Chicago North
• Gross Income: 133673
• Gross Rent Multiplier: 9
• Gross Scheduled Income: 133673
• Heat/Ventilation: Central Heat/Indiv Controls
• Information: List Broker Must Accompany, Show-Special Instructions, 48-Hr Notice Required, Highly Confidential
• Insurance Expense: 2204
• Insurance Expense Source: Actual
• Known Encumbrances: None Known
• Location: Mixed Use Area, High Traffic Area
• Lot Size Square Feet: 9375
• Main Type: Commercial Sale
• Misc Inside: Elevator/s Passenger, Accessible Washroom/s, Multi-Tenant
• Office SqFt: 1750
• Operating Expense: 41619
• Other Expense: 7500
• Other Expense Source: Actual
• Other SqFt: 2500
• Ownership Type: Limited Liability Corp
• Retail SqFt: 3750
• Roof: Rubber
• Roof Structure: Flat
• Tax Annual Amount: 24110
• Tax Year: 2023
• Tenant Pays: Air Conditioning, Electricity, Heat, Scavenger, Sewer
• Total Annual Expense Source: Actual
• Total Monthly Income: 11139
• Trash Expense Source: Combination
• Utilities: Electric to Site, Natural Gas Available
• Water Expense Source: Combination
• Water Source: Municipal Water