9,000 sq ft
Commercial: Mixed Use - MLS# 12550710
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Description
Quantum Computing Campus rare opportunity! Big building with a huge parking lot. Generous apartment layouts and a huge storefront space! In the Avalon Park/South Shore TIF District, so City grants are available for the exterior and commercial space, like the SBIF Grant. Classic mid-century design details such as wing walls and a glass front facade. 9-Unit mixed use building with street Level retail/office space and 8 large 1-bedroom residential units (4 are easy conversions to two bedrooms). Huge adjacent parking lot is included in sale. Each floor is approx 3,000 sqf. The building is supported with massive steel framing, so the store is clear span throughout with continuous floor to ceiling window lines. Storefront has strong tenant. The 2nd & 3rd floors consist of 8 apartments, comprised of 1-bed/1-bath units. South Shore's 79th street is surrounded by businesses, medical offices, and retailers. Near South Shore Hospital. Multiple PINS 2130325025, 2130325026, 2130325027. Addresses 2404-2416 E 79th. Broker Owned.
Features
- Property Type: Commercial
- Sub Type: Mixed Use
- Listing Status: Active Under Contract
- County/Area: Cook County
- Zip Code: 60649
- Year Built: 1951
- Sq.Ft.: 9,000 sq ft
- Stories: 3
- Units: 9 units
- Zoning: OFFIC
- # Of Apts: 8
- # Of Offices: 10
- # Of Ranges: 8
- # Of Refrigs: 8
- # Of Stores: 1
- Additional Parcels: Yes
- Approximate Age: Older
- Building Area Total: 9000
- Built Before 1978 (Y/N): Yes
- Cap Rate: 11.8
- Construction Materials: Brick, Concrete, Block, Steel Siding
- Cooling: Central Air, Office Only, Wall Sleeve, Window Unit(s)
- Directions: Near corner of 79th STREET and Yates. BUILDING ON NORTH SIDE OF STREET.
- Electric: Circuit Breakers, Service - 201 to 600 Amps
- Electric Expense: 1612
- Foundation Details: Concrete Perimeter
- Fuel Expense: 10865
- Geographic Locale: East/West Corridor, Chicago South
- Gross Income: 147300
- Gross Rent Multiplier: 3.73
- Gross Scheduled Income: 147300
- Heat/Ventilation: Central Bldg Heat, Forced Air, Hot Water, Radiators
- Information: Other-See Remarks, None
- Insurance Expense: 8223
- Location: Corner, Mixed Use Area, Public Transport Avail, In City Limits
- Lot Size Square Feet: 12375
- Main Type: Commercial Sale
- Operating Expense: 41623
- Original Rental Price: 10.85
- Outdoor Parking: 19-30 Spaces
- Property Sub Type: Mixed Use
- Rental Price: 10.85
- Roof Structure: Flat
- Tax Annual Amount: 16232
- Tax Year: 2024
- Tenant Pays: Electricity, Varies by Tenant
- Total Annual Expense Source: Actual
- Total Monthly Income: 12275
- Township: Hyde Park
- Trash Expense: 2400
- Utilities: Water Available
- Water Sewer Expense: 3500
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