1532 N Ashland Avenue
Chicago, IL 60622

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Description

MULTIPLE OFFERS RECEIVED-Highest and Best by Monday (2/2) at 1PM. LOCATION, LOCATION, LOCATION! HOT West Town/ Wicker Park 4 UNIT under $1M??? Prime corner location accross from Hyatt Place and the in demand Kennedy RoofTop! Beautiful 4 UNIT with flexible B32 Zoning, with an expansive patio/rooftop, all brick property with 3 residential apartments - 1/1 each, 1 commercial storefront with an open floor plan and a full unfinished basement, 2 car attached garage. Location with ample shopping, nightlife, parks and recreation in the area, public transporation: regurlar bus service, walking distance to both the Division and Damen Blue Line, walkng distance to the Clybourn Metra; a commuter's dream. This is a family occupied building, so rents are well below market and ready for new owner to maximize revenue and value on this great investment via stabilization and strategic improvements! Boutique cafe? So much opportunity. No Seller financing. Lis Pendens from the City of Chicago Case#20231401774, seller has an estimate of approximately $68K for the masonry work, permits applied for; however, seller chose to let the new owner decide the work to be done as part of their own reno plan. Scafolding already in place, permits and violations will transfer with sale. Sold AS IS WHERE IS. Neither seller, seller's agent or seller's brokerage make any respresentations, warranties or guarantees expressed or implied. Conduct independent due diligence.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60622
• Year Built: 1932
• Sq.Ft.: 2,844 sq ft
• Stories: 2
• Units: 4 units
• Zoning: MULTI
• # Of Apts: 3
• # Of Ranges: 3
• # Of Refrigs: 3
• # Of Stores: 1
• # Of Tenants: 4
• Approximate Age: Older
• Building Area Total: 2844
• Built Before 1978 (Y/N): Yes
• Cap Rate: 8.74
• Construction Materials: Brick, Concrete
• Cooling: Window Unit(s)
• Directions: 1 block south of North Ave on Ashland, to 1532 N Ashland. Building is on the south west corner of Pierce and Ashland.
• Electric: Circuit Breakers, Separate Meters, Other
• Electric Expense: 250
• Electric Expense Source: Owner Projection
• Expense Year: 2024
• Fire Protection: Carbon Monoxide Detector(s)
• Flooring: Varies, Vinyl, Wood, Other
• Foundation Details: Concrete Perimeter, Pillar/Post/Pier
• Fuel Expense Source: Owner Projection
• Geographic Locale: Downtown Chicago, Chicago North
• Gross Income: 59400
• Gross Rent Multiplier: 6.53
• Gross Scheduled Income: 59400
• Heat/Ventilation: Gas, Hot Water, Radiators
• Indoor Parking: 1-5 Spaces
• Information: 48-Hr Notice Required, Other-See Remarks, No Sign on Property
• Insurance Expense: 5000
• Insurance Expense Source: Actual
• Location: Corner, Mixed Use Area, Public Transport Avail, In City Limits, High Traffic Area
• Lot Size Square Feet: 1826
• Main Type: Commercial Sale
• Misc Inside: Multi-Tenant, Private Restroom/s, Skylight/s, Basement
• Misc Outside: Balcony/ies, Enclosed Porch, Enclosed Stairs, Fire Escape, Patio, Security Lighting, Storms and Screens (as exist), Sun Deck
• Operating Expense: 6979
• Other Expense: 250
• Other Expense Source: Owner Projection
• Outdoor Parking: 1-5 Spaces
• Ownership Type: Land Trust
• Property Sub Type: Mixed Use
• Retail SqFt: 660
• Roof Structure: Flat
• Sewer: Storm Sewer
• Tax Annual Amount: 979.25
• Tax Year: 2023
• Tenant Pays: Electricity, Heat
• Total Annual Expense Source: Owner Projection
• Total Monthly Income: 4950
• Utilities: Electric to Site, Natural Gas Available, Water Available, Cable Available
• Water Drainage: Storm Sewers
• Water Expense Source: Owner Projection
• Water Sewer Expense: 500
• Water Source: Municipal Water