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1540 W North Avenue

Chicago, IL 60622
  • $725,000
  • STATUS: Active
  • ON SITE: 93 Days
  • MLS #: 11731800
UPDATED: 13 min ago
$725,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1900
County:

School Ratings & Info

Description

Calling all business owners, investors and developers!!! This perfectly located property is a mixed-use building (commercial/ residential) with lots of potential; zoned C1-2; lot size 25x125 (survey is available upon request). Street level floor offers an operational bar/restaurant with a full kitchen and a basement (equipment is included, not the inventory). Basement has storage and office space. It's currently leased till 3/14/2024; monthly rent is $4300. Tenant pays own utilities, except water. 2nd level offers 5 office spaces (currently vacant) which can also be deconverted to a 3 Bed/ 1 Bath apartment. It's already plumbed for water, gas and electrical. 3rd level boasts a 3 Bed /1 Bath apartment with 2 outdoor spaces. It's currently vacant and used to collect monthly rent of $2,500 a month with some TLC it can be increase. 3 parking spots are located in the back of the building. Excellent location, close to public transportation and 90/94. Surrounded by Audi Fletcher Jones, Mercedes-Benz of Chicago, Hyatt Place Hotel, MB Financial Bank, 5/3 Bank and North Ave/ Division. Seller is very motivated to find the buyer who is willing to buy the building Sold AS-IS and willing to deal with city violations. For developers all violations will go away with tearing down the building. Architectural plans are available for purchase at additional cost.

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© 2023 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Angela Walker Homes Real Estate Group. Based on information submitted to the MRED as of 2023-06-07T23:58:44 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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1540 W North Avenue Chicago, IL 60622

  • Price: $725,000
  • Status: Active
  • On Site: 93 Days
  • Updated: 13 min ago
  • MLS #: 11731800
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1900
Built
Neighborhood:
Chi - West Town
County:
Cook
Area:
Chi - West Town
Property Description
Calling all business owners, investors and developers!!! This perfectly located property is a mixed-use building (commercial/ residential) with lots of potential; zoned C1-2; lot size 25x125 (survey is available upon request). Street level floor offers an operational bar/restaurant with a full kitchen and a basement (equipment is included, not the inventory). Basement has storage and office space. It's currently leased till 3/14/2024; monthly rent is $4300. Tenant pays own utilities, except water. 2nd level offers 5 office spaces (currently vacant) which can also be deconverted to a 3 Bed/ 1 Bath apartment. It's already plumbed for water, gas and electrical. 3rd level boasts a 3 Bed /1 Bath apartment with 2 outdoor spaces. It's currently vacant and used to collect monthly rent of $2,500 a month with some TLC it can be increase. 3 parking spots are located in the back of the building. Excellent location, close to public transportation and 90/94. Surrounded by Audi Fletcher Jones, Mercedes-Benz of Chicago, Hyatt Place Hotel, MB Financial Bank, 5/3 Bank and North Ave/ Division. Seller is very motivated to find the buyer who is willing to buy the building Sold AS-IS and willing to deal with city violations. For developers all violations will go away with tearing down the building. Architectural plans are available for purchase at additional cost.
Exterior Features

Frontage Type City Street Outdoor Parking 1-5 Spaces Parking Total 3

Interior Features

Cooling Central Air Heat Ventilation Gas

Property Features

Additional Parcels YN No Approximate Age 36-50 Years Built Before1978 YN Yes Electric Circuit Breakers Fire Protection Fire Extinguisher/SCarbon Monoxide Detector(S) Geographic Locale Chicago North Gross Income 126000 Gross Scheduled Income 126000 Insurance Expense 5000 Location Central Business DistrictMixed Use AreaPublic Transport Avail Mls Actual Status Active Net Operating Income 0 Operating Expense 0 Property Sub Type Mixed Use Rental Price 25 Tax Annual Amount 16340 Tax Year 2021 Tenant Pays Air ConditioningElectricityHeatInsuranceScavengerOtherVaries By Tenant Total Monthly Income 10500 Township North Chicago Type Mixed Use Zoning Commr

Listing information © 2023 Midwest Real Estate Data LLC.
Listing provided courtesy of Compass: 773-482-1917.


© 2023 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Angela Walker Homes Real Estate Group. Based on information submitted to the MRED as of 2023-06-07T23:58:44 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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Angela Walker Homes Real Estate Group
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Westchester IL, 60154