5636-48 W Division Street
Chicago, IL 60651

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Description

This 33-unit mixed-use property, a bank-owned asset in Chicago's thriving North Austin neighborhood, presents an attractive investment opportunity in a historic urban setting. Constructed in 1925, the elegant terracotta building features 7 commercial storefronts, 20 one-bedroom/one-bathroom apartments, and 6 two-bedroom/one-bathroom apartments, creating a diverse and stable revenue stream. The property's varied unit mix appeals to a wide range of tenants, from small businesses to residential renters. Significant value-add potential exists through targeted upgrades, including modernizing the commercial spaces (notably the vacant corner unit), enhancing on-site parking, and improving laundry facilities. With strategic renovations and efficient property management, investors can unlock substantial cash flow and long-term appreciation in Chicago's dynamic rental market. Located in a vibrant, historic community with strong demand, this property is ideal for those looking to capitalize on the city's growing real estate opportunities.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Special Conditions: REO/Bank Owned
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60651
• Year Built: 1925
• Sq.Ft.: 22,546 sq ft
• Stories: 3
• Units: 33 units
• Zoning: COMMR
• Approximate Age: Older
• Building Area Total: 22546
• Built Before 1978 (Y/N): Yes
• Cap Rate: 12.9
• Construction Materials: Brick
• Directions: Start at I-290 and Cicero Avenue: Head north on Cicero Avenue (IL-50) from the I-290 interchange. Continue on Cicero Avenue: Drive north on Cicero Avenue for approximately 1.5 miles (about 4-5 minutes, depending on traffic). Turn left onto W Division Street: At the intersection of Cicero Avenue and W Division Street, make a left turn onto W Division Street. Proceed to 5636 W Division Street: Continue west on W Division Street for about 0.6 miles (roughly 2 minutes). The destination, 5636 W Division Street, will be on your right.
• Electric Expense: 1800
• Electric Expense Source: Broker Projection
• Expense Year: 2024
• Fuel Expense: 25000
• Fuel Expense Source: Actual
• Gross Income: 492000
• Gross Rent Multiplier: 5.08
• Gross Scheduled Income: 452640
• Heat/Ventilation: Hot Water
• Information: List Broker Must Accompany, 48-Hr Notice Required, REO/Lender Owned
• Insurance Expense: 15000
• Insurance Expense Source: Actual
• Janitor Expense: 6000
• Lot Size Source: County Records
• Lot Size Square Feet: 12303
• Main Type: Commercial Sale
• Maintenance Expense: 6000
• Manager Expense: 24600
• Manager Expense Source: BP
• Operating Expense: 128606
• Other Expense: 5000
• Other Expense Source: Broker Projection
• Repairs-Decor Expense Source: Broker Projection
• Tax Annual Amount: 30206
• Tax Year: 2023
• Total Annual Expense Source: Broker Projection
• Total Monthly Income: 37720
• Trash Expense: 5000
• Trash Expense Source: Actual
• Water Expense Source: Actual
• Water Sewer Expense: 12500