7,012 sq ft
Commercial: Mixed Use - MLS# 12573173
Tools & Resources:
Description
Exceptional mixed-use investment opportunity in the heart of Bridgeport offering approximately 7,012 square feet of combined space- 4530 of an above ground level finished space and 2482 SQ ft of an unfinished tall basement. This mixed use property consists of 2 spacious 3 bedroom residential units, 1 retail commercial storefront (822sq ft) and adjacent (1142 sq ft commercial unit that is currently used as an appartment - lease expires on 6/30/26 and new owner may lease it as commercial suite to generate higher income or use it as an owner operator. Bring your own business here! The residential apartments are nicely updated and feature hard surface flooring, white trim and molding, high ceilings, updated kitchens with granite countertops, two units with stainless steel appliances, in-unit laundry rooms, ceiling fans, and individual central HVAC. The commercial space includes a new front window and recently replaced heating system. Current total monthly rental income is $6,991. Tenants pay their own gas and electric, while the owner is responsible for water, sewer, and common area lighting. Utilities are separately metered for gas and electric for each unit and tenants pay their own. Recent B1-2 mixed use zoning now allows bringing profitable commercial tenants to main floor space that historically has been used as a residential or you can bring own business. Rents are near current market rates with potential for future increases in particular with recent zoning change and potential for commercial space expansion. The current commercial lease includes an escalation clause upon renewal. Additional improvements include a newer roof, newer porch, 4 newer hot water tanks, cement flooring in the full walkout basement, crisp basement ceiling/main floor floorboards and central heat and air conditioning in all residential units. The basement provides significant storage and potential value-add/expansion opportunities Small fenced grassy area in back. The building is situated on a desirable corner lot on a low-traffic retail street surrounded by newer construction. The location offers convenient access to public transportation, shopping, dining, parks, and major thoroughfares. Palmisano Park is located nearby, and the property provides quick access to downtown while maintaining a neighborhood setting. Bridgeport is known for its strong community presence, local dining establishments, cultural events, and proximity to Guaranteed Rate Field.The seller's lender may be able to offer an assumable FHA mortgage for qualified buyers at a 2.25 interest rate. Great CAP rate for savyy investors. First floor units can be combined into large commercial space of approx 2158 SQ ft to accommodate a larger business in this prime location. Please do your own due diligence to verify the information. Neither seller or seller's brokerage assume any liability regarding these statements.
Features
- Property Type: Commercial
- Sub Type: Mixed Use
- Listing Status: Active Under Contract
- County/Area: Cook County
- Zip Code: 60616
- Year Built: 1899
- Sq.Ft.: 7,012 sq ft
- Stories: 2
- Units: 4 units
- Zoning: MULTI
- # Of Apts: 2
- # Of Dishwashers: 3
- # Of Dryers: 3
- # Of Offices: 1
- # Of Ranges: 3
- # Of Refrigs: 3
- # Of Stores: 1
- # Of Tenants: 4
- # Of Washers: 3
- # Of Window/Ac: 1
- Approximate Age: Older
- Building Area Total: 7012
- Built Before 1978 (Y/N): Yes
- Cap Rate: 8.42
- Construction Materials: Brick, Wood, Vinyl Siding
- Cooling: Central Air, Central Individual, Window Unit(s)
- Directions: Canal to 26th Street, West to address
- Electric: Separate Meters
- Electric Expense: 300
- Electric Expense Source: Combination
- Expense Year: 2025
- Flooring: Vinyl, Wood, Other
- Foundation Details: Brick/Mortar
- Geographic Locale: East/West Corridor
- Gross Income: 83892
- Gross Rent Multiplier: 9.77
- Gross Scheduled Income: 69077
- Heat/Ventilation: Central Heat/Indiv Controls
- Information: List Broker Must Accompany, 48-Hr Notice Required
- Insurance Expense: 3361
- Insurance Expense Source: Actual
- Location: Central Business District, Corner, Mixed Use Area, Public Transport Avail, In City Limits
- Lot Size Square Feet: 3183
- Main Type: Commercial Sale
- Misc Inside: Multi-Tenant, Storage Inside, Basement
- Misc Outside: Enclosed Porch
- Office SqFt: 1264
- Operating Expense: 14815
- Other SqFt: 2444
- Ownership Type: Individual
- Property Sub Type: Mixed Use
- Retail SqFt: 822
- Roof Structure: Flat, Pitched
- Tax Annual Amount: 10554
- Tax Year: 2024
- Tenant Pays: Electricity, Heat, Scavenger
- Total Annual Expense Source: Actual
- Total Monthly Income: 6991
- Township: South Chicago
- Trash Expense: 300
- Trash Expense Source: Combination
- Warehouse SqFt: 2482
- Water Expense Source: Combination
- Water Sewer Expense: 300
©2026, Midwest Real Estate Data (MRED). All rights reserved.