3602 W 16th Street
Chicago, IL 60623

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Description

Well-maintained mixed-use investment opportunity in North Lawndale! This property features a fully operational restaurant on the main level and three residential units above. Two of the three 2-bedroom units are currently occupied, generating income from day one, with the third ready for lease or updates as needed. The building offers solid interior and exterior condition, functional systems, and a layout ideal for long-term rental or portfolio expansion. Conveniently located near neighborhood amenities, transit, and local business corridors. Property is being sold with tenants' rights respected.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60623
• Year Built: 1911
• Sq.Ft.: 3,726 sq ft
• Stories: 2
• Units: 4 units
• # Of Apts: 3
• # Of Stores: 1
• Approximate Age: Older
• Building Area Total: 3726
• Built Before 1978 (Y/N): Yes
• Construction Materials: Brick
• Directions: Central Park to 16th Street
• Electric: Circuit Breakers
• Electric Expense: 5854
• Electric Expense Source: Owner Projection
• Fire Protection: Smoke or Fire Protectors
• Fuel Expense: 6744
• Fuel Expense Source: Owner Projection
• Geographic Locale: Chicago West
• Gross Income: 43200
• Gross Rent Multiplier: 14.8
• Gross Scheduled Income: 43200
• Heat/Ventilation: Forced Air
• Insurance Expense: 497
• Insurance Expense Source: Owner Projection
• Location: Mixed Use Area
• Lot Size Square Feet: 2500
• Main Type: Commercial Sale
• Other Expense: 1860
• Other Expense Source: Owner Projection
• Property Sub Type: Mixed Use
• Roof: Tar/Gravel
• Tax Annual Amount: 4436.32
• Tax Year: 2024
• Tenant Pays: All Utilities
• Total Monthly Income: 2400
• Township: West Chicago
• Trash Expense: 1836
• Trash Expense Source: Owner Projection
• Water Expense Source: Owner Projection
• Water Sewer Expense: 4800