3121 W 71st Street
Chicago, IL 60629

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Description

Prime mixed-use opportunity directly across from Marquette Park! This well-maintained building offers approximately 4,500 SF of ground-floor retail/office space, easily divisible into two separate units. The upper level features three residential apartments currently generating $4,000/month in rental income, providing immediate cash flow. Additional highlights include two, 2-car garages on site and B1-1 zoning, offering flexibility for a variety of business and investment uses. Perfect for an owner-user looking to operate their business on the ground floor while offsetting expenses with rental income, or for an investor seeking a stable, income-producing asset in a strong neighborhood location. With high visibility, strong foot and vehicle traffic, and a prime location across from the 318-acre Marquette Park, this property offers a unique blend of business potential and long-term investment upside.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active Under Contract
• County/Area: Cook County
• Zip Code: 60629
• Year Built: 1959
• Sq.Ft.: 8,864 sq ft
• Stories: 2
• Units: 5 units
• # Of Apts: 3
• # Of Offices: 1
• # Of Stores: 1
• Additional Parcels: Yes
• Approximate Age: Older
• Building Area Total: 8864
• Built Before 1978 (Y/N): Yes
• Cooling: Central Air
• Directions: 71st St East to Troy St
• Electric: Circuit Breakers
• Electric Expense: 1800
• Fuel Expense: 3500
• Geographic Locale: Chicago Southwest
• Gross Income: 48000
• Gross Rent Multiplier: 8.2
• Gross Scheduled Income: 48000
• Heat/Ventilation: Forced Air
• Information: 24-Hr Notice Required
• Insurance Expense: 4500
• Lot Size Square Feet: 7910
• Main Type: Commercial Sale
• Property Sub Type: Mixed Use
• Tax Annual Amount: 4008.62
• Tax Year: 2023
• Total Monthly Income: 4000
• Trash Expense: 2400
• Water Sewer Expense: 4800