4400-4402 S HONORE Crest
Chicago, IL 60609

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Description

Excellent investment opportunity in the New City area! This mixed-use property offers strong income potential with 8 residential units plus 1 storefront, providing multiple streams of revenue. The building features a desirable unit mix, including two 4-bedroom units, one 5-bedroom unit, one 3-bedroom unit, and four 2-bedroom units, appealing to a wide range of tenants. Most apartments have been updated, and each unit is equipped with separate heat and electric, helping to reduce owner expenses and simplify management. The storefront is currently vacant, creating a great opportunity for an owner-user to start a business or lease for additional income. The property is well-maintained and currently occupied by long-term tenants, with rents below market value, offering significant upside potential for increased cash flow. No leases in place provide added flexibility for future plans. Conveniently located near major streets, public transportation, and local amenities. A solid opportunity for investors looking to build equity and maximize returns in a growing area. *FULL UNFINISHED BASEMENT*

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60609
• Year Built: 1909
• Stories: 3
• Units: 9 units
• Basement: Unfinished
• Zoning: MULTI
• Approximate Age: Older
• Built Before 1978 (Y/N): Yes
• Cap Rate: 4.82
• Construction Materials: Brick
• Directions: ASHLAND TO 43RD/WEST TO HONORE/SOUTH
• Electric: Circuit Breakers
• Electric Expense Source: Actual
• Expense Year: 2024
• Fire Protection: Fire Extinguisher/s
• Foundation Details: Concrete Perimeter
• Fuel Expense Source: Actual
• Gross Income: 72000
• Gross Rent Multiplier: 9.37
• Gross Scheduled Income: 72000
• Heat/Ventilation: Gas, Wall Unit
• Indoor Parking: 1-5 Spaces
• Information: 24-Hr Notice Required
• Insurance Expense: 2823
• Insurance Expense Source: Actual
• Lot Size Square Feet: 5800
• Main Type: Commercial Sale
• Manager Expense Source: AC
• Operating Expense: 12400
• Other Expense Source: Actual
• Repairs-Decor Expense Source: Actual
• Tax Annual Amount: 15997
• Tax Year: 2024
• Total Annual Expense Source: Actual
• Total Monthly Income: 6000
• Township: Lake
• Trash Expense: 2400
• Trash Expense Source: Actual
• Type Multi-Family: Corridor-Interior Entrance
• Water Expense Source: Actual
• Water Sewer Expense: 7200