3742 W Montrose Avenue
Chicago, IL 60618

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Description

Mixed-use investment opportunity in Albany Park. Masonry brick 9-unit building consisting of eight residential apartment units and one street-level retail unit. The property is zoned B3-1 and is located within the Northwest ADU Pilot Zone. Building features include electric space heaters, building-owned common-area laundry, a 200-amp electrical service with panels located in the basement, owner-paid electric and water, tenant-paid gas, and a 2-car garage. Recent capital improvements include roof, masonry, and window renovations completed in 2023. Built in 1919 and situated on Montrose Avenue. Sold as-is.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60618
• Year Built: 1919
• Sq.Ft.: 5,700 sq ft
• Stories: 3
• Units: 9 units
• Zoning: COMMR
• # Of Apts: 8
• # Of Stores: 1
• Approximate Age: Older
• Building Area Total: 5700
• Built Before 1978 (Y/N): Yes
• Construction Materials: Brick
• Directions: Montrose east or west to address.
• Electric: Service - 101 to 200 Amps
• Electric Expense: 788
• Electric Expense Source: Actual
• Expense Year: 2025
• Fuel Expense Source: Actual
• Geographic Locale: Chicago North
• Gross Income: 101040
• Gross Rent Multiplier: 8.75
• Gross Scheduled Income: 102840
• Heat/Ventilation: Electric
• Information: List Broker Must Accompany, 48-Hr Notice Required
• Insurance Expense: 5752
• Insurance Expense Source: Actual
• Lot Size Square Feet: 3125
• Main Type: Commercial Sale
• Operating Expense: 42428
• Original Rental Price: 1.5
• Other Expense: 16060
• Other Expense Source: Broker Projection
• Property Sub Type: Mixed Use
• Rental Price: 1.5
• Tax Annual Amount: 12700
• Tax Year: 2024
• Tenant Pays: Heat
• Total Annual Expense Source: Combination
• Total Monthly Income: 8420
• Township: North Chicago
• Trash Expense: 902
• Trash Expense Source: Actual
• Water Expense Source: Actual
• Water Sewer Expense: 6226