3924 W North Avenue
Chicago, IL 60647

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Description

This 3,300 sq/ft all-brick mixed-use building is priced to sell and presents a fantastic opportunity for business owners or investors seeking to diversify their portfolio. Situated on a high-traffic corner in bustling Humboldt Park bordering Logan Square, the property is ideally suited for retail, convenience store, or restaurant use. The main level offers a flexible commercial layout featuring five offices, a kitchen, bathroom and ample storage. Legally zoned a 3 unit, there is also an efficiency behind the commercial space. The second level includes a spacious 4-bedroom, 1-bath apartment, providing excellent potential for owner-occupancy or rental income. The basement offers additional storage space and includes a bank vault. An attached two-car garage with high ceilings and overhead doors adds further functionality and value. Please note the property has experienced fire damage and requires renovation. Exercise caution when touring. This property may qualify for a grant of up to 250K thru the Neighborhood Opportunity Fund. Website detailed in broker remarks.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active Under Contract
• County/Area: Cook County
• Zip Code: 60647
• Year Built: 1956
• Stories: 2
• Units: 2 units
• Zoning: MULTI
• # Of Apts: 1
• # Of Offices: 1
• # Of Stores: 1
• Approximate Age: Older
• Built Before 1978 (Y/N): Yes
• Cooling: Central Air
• Directions: NORTH AVE. TO THE CORNER OF HARDING
• Electric: Circuit Breakers
• Electric Expense: 1500
• Electric Expense Source: Owner Projection
• Fire Protection: Fire Extinguisher/s, Carbon Monoxide Detector(s)
• Fuel Expense: 2000
• Fuel Expense Source: Owner Projection
• Geographic Locale: Chicago Northwest
• Gross Income: 38400
• Gross Rent Multiplier: 8.5
• Gross Scheduled Income: 38400
• Heat/Ventilation: Hot Water, Radiators
• Indoor Parking: 1-5 Spaces
• Information: Other-See Remarks, No Sign on Property
• Insurance Expense: 1500
• Insurance Expense Source: Owner Projection
• Lot Size Square Feet: 2267
• Main Type: Commercial Sale
• Outdoor Parking: 1-5 Spaces
• Property Sub Type: Mixed Use
• Tax Annual Amount: 4656.17
• Tax Year: 2023
• Tenant Pays: Electricity, Heat
• Total Annual Expense Source: Owner Projection
• Total Monthly Income: 3200
• Township: Jefferson
• Trash Expense: 300
• Trash Expense Source: Owner Projection
• Water Expense Source: Owner Projection
• Water Sewer Expense: 300