5858 W Irving Park Road
Chicago, IL 60634

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Description

Prime Commercial Investment Opportunity in Portage Park! Exceptional corner property featuring two PINs and three leased commercial units along busy Irving Park Road. Well-maintained building with separate utilities: each unit has its own furnace, central air conditioning, and electrical panel. Additional storage in rear lower level of corner unit. Roof sealant applied every 5 years. Private rear parking lot with 9 spaces-a rare find in this area. Corner unit is in excellent condition; the other two units are in good condition. High visibility with 17,400 vehicles per day (per IDOT), offering strong signage exposure and long-term investment appeal. Located in a high-traffic corridor with strong visibility and surrounded by established businesses, this property is ideal for investors seeking long-term upside. Current rents are below market, the projected market rents between $1,800 to $2,300 per month.

Features

• Property Type: Commercial
• Sub Type: Retail/Stores
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60634
• Year Built: 1938
• Sq.Ft.: 2,800 sq ft
• Stories: 1
• Units: 3 units
• Zoning: COMMR
• # Of Tenants: 3
• Additional Parcels: Yes
• Building Area Total: 2800
• Cap Rate: 5.1
• Construction Materials: Brick
• Cooling: Central Air
• Directions: East or West on Irving Park Road to 5858, corner of Marmora and Irving Park Road
• Electric: Circuit Breakers
• Expense Year: 2024
• Extra Storage Spaces Available (Y/N): Yes
• Fire Protection: Smoke or Fire Protectors, Carbon Monoxide Detector(s)
• Gross Income: 45000
• Gross Scheduled Income: 45000
• Heat/Ventilation: Forced Air, Gas
• Information: 24-Hr Notice Required, List Broker Must Accompany
• Insurance Expense: 3720
• Insurance Expense Source: Owner Projection
• Location: Corner, Mixed Use Area, High Traffic Area
• Lot Size Source: County Records
• Lot Size Square Feet: 6250
• Main Type: Commercial Sale
• Misc Inside: Basement
• Operating Expense: 17064
• Other Expense: 400
• Other Expense Source: Owner Projection
• Outdoor Parking: 6-12 Spaces
• Property Offered: For Sale Only
• Property Sub Type: Retail
• Tax Annual Amount: 10814
• Tax Year: 2023
• Tenant Pays: Electricity, Heat
• Total Annual Expense Source: Owner Projection
• Total Monthly Income: 3750
• Township: Jefferson
• Trash Expense: 1920
• Trash Expense Source: Owner Projection
• Utilities: Electricity Available, Natural Gas Available
• Water Expense Source: Owner Projection
• Water Sewer Expense: 210