Commercial: Mixed Use - MLS# 12519059
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Description
Welcome to 10831 Western Ave, a prime mixed-use investment property located on highly visible Western Ave. This well maintained building features three residential units above a versatile commercial space. Residential Units (Approx. $3,880/mo total rent): Unit 1 (Front): Loft-style apartment w/ upper-level bedroom + half bath; MTM lease. Unit 2 (Middle): 1 bed/1 bath; leased through June 2026. Unit 3 (Rear): 2 bed/1 bath; MTM lease. Strong rental income with reliable tenants in place. The Commercial Space Formerly a long-standing dental practice owned by only two practitioners. The practices are now closed and the large, open lower level is ready for conversion to a professional office, medical/med spa, retail, or divisible rental suites. This is an excellent opportunity for business owners or investors. Additional Features include, high-traffic location with great visibility, a historic facade with solid structure, proximity to shops, restaurants, and public transit, and flexible zoning and multiple use options. This is ideal for investors seeking stable income with upside or owner-operators looking for a customizable commercial footprint. There is 1 furnace, forced heating and air that is connected for the offices. Then there are 3 boilers for each upstairs apartment, and the 2 water heater tanks are serviced for the offices and all units. There are a total of 4 total gas meters and 4 electrical meters for the units and office. *Buyer to confirm year built and dimensions. Showings will be blocked for Wednesdays 10am-7pm and Saturdays 10am-7pm ONLY to be respectful of the tenants. Please request showings 48 hours in advance. Thank you!
Features
- Property Type: Commercial
- Sub Type: Mixed Use
- Listing Status: Active
- County/Area: Cook County
- Zip Code: 60643
- Year Built: 1968
- Stories: 2
- Units: 4 units
- Fireplace: 1
- Zoning: MULTI
- # Of Apts: 3
- # Of Offices: 1
- # Of Stores: 1
- # Of Tenants: 3
- Approximate Age: Older
- Built Before 1978 (Y/N): Yes
- Construction Materials: Brick/Stone Msn Pred
- Cooling: Central Air
- Directions: Heading east on Western Avenue from 99th, head about a mile and the building will be on the left across from County Fair Grocery.
- Electric: Separate Meters
- Electric Expense: 1223
- Electric Expense Source: Actual
- Fire Protection: Smoke or Fire Protectors, Carbon Monoxide Detector(s)
- Flooring: Carpet, Vinyl
- Fuel Expense: 2497
- Fuel Expense Source: Actual
- Geographic Locale: Chicago Southwest
- Gross Income: 3480
- Gross Rent Multiplier: 15.6
- Gross Scheduled Income: 41760
- Heat/Ventilation: Forced Air, Gas, Hot Water
- Indoor Parking: 1-5 Spaces
- Information: 48-Hr Notice Required
- Insurance Expense: 4178
- Insurance Expense Source: Actual
- Known Encumbrances: None Known
- Location: Mixed Use Area, In City Limits, High Traffic Area
- Lot Size Square Feet: 7500
- Main Type: Commercial Sale
- Misc Inside: Accessible Washroom/s, Multi-Tenant
- Misc Outside: Balcony/ies
- Original Rental Price: 1.25
- Other Expense: 2000
- Other Expense Source: Broker Projection
- Outdoor Parking: 6-12 Spaces
- Ownership Type: Individual
- Property Sub Type: Mixed Use
- Rental Price: 1.25
- Roof: Tar/Gravel
- Roof Structure: Flat
- Tax Annual Amount: 7372
- Tax Year: 2023
- Tenant Pays: Electricity, Heat
- Total Actual Rent: 3880
- Total Monthly Income: 3480
- Trash Expense: 114
- Trash Expense Source: Actual
- Utilities: Electric to Site, Natural Gas Available, Water Available
- Water Expense Source: Combination
- Water Sewer Expense: 1424
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