3538 W North Avenue
Chicago, IL 60647

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Description

This all brick, mixed use, legal 3 flat building has been fully updated on all levels. Two apartments each featuring 2 bedrooms, full living and dining rooms, updated kitchens, bathrooms, in unit laundry, hardwood floors, can lights, newer windows, and newer HVAC w/ central heat and air conditioning. Second floor apartment also has a new water heater. New 200 AMP electric service with 4 separate meters; including public meter. 4 car tandem parking in rear. The bright, renovated storefront features tall ceilings, commercial grade glass windows and doors, a half bath, decorative lighting, and central heat and air conditioning. Additional space in full basement can be used for dedicated storage for apartments or the commercial space. This turn key building also has a clean check valve for flood control, the exterior of the building has been tuckpointed, and the roof silver coated in 2021. Perfect opportunity for someone with a business looking to owner occupy one of the units. Walking distance to McCormick YMCA w/indoor pool, Kimball Arts Center, restaurants, shopping, and entertainment.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60647
• Year Built: 1902
• Stories: 3
• Units: 3 units
• # Of Apts: 2
• # Of Dishwashers: 2
• # Of Dryers: 2
• # Of Ranges: 2
• # Of Refrigs: 2
• # Of Stores: 1
• # Of Washers: 2
• Approximate Age: Older
• Built Before 1978 (Y/N): Yes
• Construction Materials: Brick
• Cooling: Central Air
• Directions: West on North Ave to 3538
• Electric: Circuit Breakers, Service - 101 to 200 Amps
• Electric Expense: 7500
• Electric Expense Source: Owner Projection
• Fire Protection: Alarm On Site, Fire Extinguisher/s, Other, Carbon Monoxide Detector(s)
• Flooring: Wood
• Fuel Expense: 7200
• Fuel Expense Source: Owner Projection
• Geographic Locale: Chicago North
• Gross Income: 83000
• Gross Rent Multiplier: 8.73
• Gross Scheduled Income: 85000
• Heat/Ventilation: Central Bldg Heat, Central Heat/Indiv Controls, Forced Air
• Information: List Broker Must Accompany, 48-Hr Notice Required, No Sign on Property
• Insurance Expense: 1500
• Insurance Expense Source: Owner Projection
• Location: Central Business District, Mixed Use Area, Public Transport Avail, In City Limits, High Traffic Area
• Lot Size Square Feet: 3400
• Main Type: Commercial Sale
• Misc Inside: Basement
• Misc Outside: Enclosed Stairs, Patio, Security Gate
• Original Rental Price: 20
• Other Expense: 1500
• Outdoor Parking: 1-5 Spaces, Private Lot, Parking On-Site
• Property Sub Type: Mixed Use
• Rental Price: 20
• Retail SqFt: 1200
• Tax Annual Amount: 12694.8
• Tax Year: 2024
• Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat, Repairs
• Total Actual Rent: 2000
• Total Monthly Income: 6900
• Township: Jefferson
• Trash Expense Source: Owner Projection
• Water Expense Source: Owner Projection
• Water Sewer Expense: 1200