4217 W Division Street
Chicago, IL 60651

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Description

Spacious two story Mixed Use building with C-1-1 Zoning on a 25 x 125 lot. The first floor is currently on a month to month lease, however the space will be vacated at the time of closing. The second floor has a moderately updated two bedroom apartment with a lease through 2026 but can be extended to 2027 at buyers discretion. There are 10 ft ceilings on the main level, exposed brick walls, spiral exposed ductwork and two bathrooms. The upstairs has also been moderately updated and so this could be a perfect fit for any buyer. In full transparency this is a value add opportunity but can be the ideal set up for an arm chair investor, business owner, and or live/work space. The possibilities are endless and the price point makes this a truly attractive investment opportunity. The mechanicals: The first and second floor are on individually metered electrical panels, it is a 100 amp service with two meters and so each tenant pays for their electricity. The gas is individually metered and so each tenant pays for their own heat, there are two gas furnaces-- one for each floor. The Hot water is central to the building and so only one 40 gallon hot water tank for the property. This can be separated out by the new owner. There is a basement at the property with a 6 ft ceiling height and so it is used as extra storage for the owner. The property has an older garage wood structure with an overhead door which is currently used as storage only. The building is sold in as is where is condition and the pricing reflects that. Come and check out this wonderful investment opportunity in an area ripe for expansion and future development.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active Under Contract
• County/Area: Cook County
• Zip Code: 60651
• Year Built: 1919
• Sq.Ft.: 2,500 sq ft
• Stories: 2
• Units: 2 units
• Zoning: COMMR
• # Of Apts: 1
• # Of Refrigs: 1
• # Of Stores: 1
• # Of Tenants: 1
• Approximate Age: Older
• Building Area Total: 2500
• Built Before 1978 (Y/N): Yes
• Cap Rate: 8
• Construction Materials: Brick
• Directions: East or West on Divison (1200N) to Property
• Electric: Circuit Breakers, Separate Meters, Service - 0 to 100 Amps
• Expense Year: 2024
• Fire Protection: Smoke or Fire Protectors, Carbon Monoxide Detector(s)
• Flooring: Wood
• Foundation Details: Concrete Perimeter, Stone
• Geographic Locale: Chicago West
• Gross Income: 24600
• Gross Scheduled Income: 24600
• Heat/Ventilation: Forced Air, Gas
• Information: 24-Hr Notice Required
• Insurance Expense: 1816
• Insurance Expense Source: Broker Projection
• Known Encumbrances: None Known
• Lot Size Square Feet: 3240
• Main Type: Commercial Sale
• Misc Inside: Basement
• Operating Expense: 5600
• Outdoor Parking: 1-5 Spaces
• Ownership Type: Corporation
• Retail SqFt: 1000
• Roof Structure: Flat
• Tax Annual Amount: 2116.24
• Tax Year: 2023
• Tenant Pays: Electricity, Heat
• Total Annual Expense Source: Broker Projection
• Total Monthly Income: 2050
• Township: Jefferson
• Utilities: Electric to Site, Natural Gas Available, Water Available
• Water Sewer Expense: 1600