1003 W Armitage Avenue Chicago, IL 60614
5,009 Sq. Ft. / 2,396 Sq. Ft., 0.055 acres lot size / Mixed Use, Business Opportunities
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Don't miss this extraordinary and rare investment opportunity with a 6.86% CAP RATE in the highly sought-after Lincoln Park neighborhood! This fully stabilized, recently gut-renovated mixed-use property offers a premier investment experience, featuring four residential apartments and one retail space. Strategically located on a desirable street, the property boasts a prime position directly across from the Chicago Transit Authority's (CTA) Brown Line L Train Stop at Armitage. With 100% occupancy and strong rental income, this investment presents the potential for rent increases while keeping operating expenses low. The commercial tenant covers 40% of CAM (including property tax and insurance), while residential tenants pay for utilities (gas and electricity). Significant recent upgrades, such as a new roof and AC condensers installed in 2022, contribute to the property's long-term value. Each residential unit features hardwood floors, in-unit laundry, quartz countertops, stainless steel appliances, and individual HVAC units, ensuring maximum comfort and appeal for tenants. Take advantage of this exceptional mixed-use property in the heart of Lincoln Park, offering stability, growth potential, and an impressive return on investment for discerning investors.
property details
Type
Mixed Use, Business Opportunities
Status
Active
County
Cook
Year Built
1886
Sq. Ft.
5,009
Lot Size
2,396 Sq. Ft., 0.1 acres
Listing Id
11925147
Courtesy Of
Junzhou Cui - Citywide Real Estate +1 312-808-8899
List Office Phone
+1 (312) 944-8900
Interior Features
Living Area Units
Sq. Ft.
Exterior Features
Foundation
Concrete Perimeter
Stone
Stone
Stories
3
Parking Spaces
3
Utility & Building Info
Parcel Number
14324030080000
Cooling
Central Air
Tax Amount
30363
Building Area Total
5,009 Sq. Ft.
Price Per Sq Ft
$559
Architectural Style
3+ Story
Price History
| date | event | price | source |
|---|---|---|---|
|
11/06/2023
11/06/2023
|
Active |
$2,799,900
|
MRED- Midwest Real Estate Data MLS |
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Market Trends
Source: LiveBy
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