Commercial: Mixed Use - MLS# 12561831
Tools & Resources:
Description
Well-maintained mixed-use or (live-work opportunity) in Lincoln Park offering immediate income with long-term flexibility. The property generates approximately $5,000 per month in gross income ($60,000 annually) Roughly a 5.7 CAP. The second floor features a fully remodeled designer one-bedroom apartment leased at $1,800/month, with in-unit washer and dryer. The lease runs through the end of May, providing near-term flexibility The ground-floor commercial space offers strong visibility along Ashland Avenue and is suitable for office, retail, or studio use. Major capital improvements already completed: Two furnaces, both under one year old Roof and siding approximately four years old Updated electrical Separate systems improve operating efficiency and risk profile This asset is well-positioned for: An investor targeting stable mixed-use cash flow in a core neighborhood A live-work buyer wanting long-term flexibility in a high-demand corridor Strong location, meaningful recent upgrades, and clear income make this a clean, financeable mixed-use opportunity.
Features
- Property Type: Commercial
- Sub Type: Mixed Use
- Listing Status: Active
- County/Area: Cook County
- Zip Code: 60614
- Year Built: 1918
- Stories: 2
- Units: 2 units
- Zoning: MULTI
- # Of Apts: 2
- # Of Dishwashers: 1
- # Of Disposals: 1
- # Of Dryers: 1
- # Of Offices: 1
- # Of Ranges: 1
- # Of Refrigs: 1
- # Of Stores: 2
- # Of Washers: 1
- Approximate Age: New Rehab
- Built Before 1978 (Y/N): Yes
- Cooling: Central Air
- Directions: On ashland between altgeld and montana.
- Electric: Circuit Breakers
- Electric Expense: 100
- Fire Protection: Hydrants On Site
- Fuel Expense: 250
- Geographic Locale: Chicago North
- Gross Income: 60000
- Gross Rent Multiplier: 11.4
- Gross Scheduled Income: 39000
- Heat/Ventilation: Forced Air
- Information: Short Notice OK
- Insurance Expense: 6000
- Lot Size Square Feet: 2250
- Main Type: Commercial Sale
- Office SqFt: 1353
- Original Rental Price: 27.5
- Other Expense: 150
- Rental Price: 27.5
- Tax Annual Amount: 7425
- Tax Year: 2024
- Total Actual Rent: 4900
- Total Monthly Income: 5000
- Water Sewer Expense: 50
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