3251 W 111TH Street
Chicago, IL 60655

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Description

Incredible Investment Opportunity in Prime Mount Greenwood! Here's your chance to own a well-maintained mixed-use two-flat in one of the most desirable high-traffic corridors on 111th Street in Mount Greenwood. This property offers excellent visibility, stable income, and significant upside potential. The building includes a 400 sq ft commercial space in the front and a spacious 3-bedroom, 1-bath residential unit in the rear-plus a full unfinished attic that offers future expansion potential. There's also a 2-car garage in the rear. The property has been well cared for, and both units are currently occupied with long-time, month-to-month tenants. Rents have not been raised in many years, offering immediate value-add opportunity by adjusting to market rate. The adjacent vacant 25 x 125 lot is also available for just $100,000 additional. Use it for expanded parking, outdoor space, or future development-the possibilities are endless. Both parcels have separate PINs and can be sold together. Whether you're looking to increase cash flow, expand your portfolio, or secure a prime piece of real estate in a sought-after business district, this is a must-see opportunity.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60655
• Year Built: 1919
• Stories: 2
• Units: 2 units
• Zoning: COMMR
• # Of Apts: 1
• # Of Offices: 1
• # Of Stores: 1
• Additional Parcels: Yes
• Approximate Age: Older
• Built Before 1978 (Y/N): Yes
• Construction Materials: Wood, Frame
• Cooling: Wall Sleeve
• Directions: WEST OF WESTERN AVENUE; EAST OF PULASKI AVENUE; NORTH OF 119TH; SOUTH OF 95TH; GO WEST ON 111TH ST.
• Fire Protection: Fire Extinguisher/s
• Foundation Details: Brick/Mortar, Concrete Perimeter
• Geographic Locale: Chicago South
• Gross Income: 1975
• Gross Rent Multiplier: 8.43
• Gross Scheduled Income: 23700
• Heat/Ventilation: Forced Air, Gas
• Indoor Parking: 1-5 Spaces
• Information: 48-Hr Notice Required, No Sign on Property
• Location: Central Business District
• Lot Size Square Feet: 6313
• Main Type: Commercial Sale
• Original Rental Price: 11.85
• Outdoor Parking: 1-5 Spaces
• Ownership Type: Corporation
• Property Sub Type: Mixed Use
• Rental Price: 11.85
• Roof Structure: Pitched
• Tax Annual Amount: 3206
• Tax Year: 2023
• Tenant Pays: Electricity, Heat
• Total Actual Rent: 1975
• Total Monthly Income: 1975
• Township: Lake