Commercial: Mixed Use - MLS# 12580703
Tools & Resources:
Description
Renovated 8-unit mixed-use asset in the heart of Lakeview-one of Chicago's most sought-after retail and residential corridor along the Clark Street corridor. This fully occupied asset consists of six renovated 1-bedroom/1-bathroom apartments and two high-visibility commercial storefronts totaling 2,432 SF. The property underwent a comprehensive renovation in 2017, including updated kitchens with granite countertops and SS appliances, plus a full roof replacement (2013) and new gutters/downspouts. Significant 2022 exterior upgrades include new face brick and modern commercial storefront windows. Designed for operational efficiency, all units feature individual central HVAC and are separately metered for gas and electric. With four rear parking spaces and a prime location just steps from the Belmont CTA station, this property offers both immediate stability and a clear path to a $126,800 pro-forma NOI through market rent adjustments.
Features
- Property Type: Commercial
- Sub Type: Mixed Use
- Listing Status: Active
- County/Area: Cook County
- Zip Code: 60657
- Year Built: 1898
- Stories: 3
- Units: 8 units
- # Of Apts: 6
- # Of Dishwashers: 6
- # Of Ranges: 6
- # Of Refrigs: 6
- # Of Stores: 2
- Approximate Age: Older
- Built Before 1978 (Y/N): Yes
- Construction Materials: Brick, Vinyl Siding
- Cooling: Central Individual
- Directions: Property located just north of Clark & Belmont on the West side of N Clark St.
- Electric: Separate Meters
- Electric Expense: 600
- Fire Protection: Alarm On Site
- Fuel Expense: 900
- Geographic Locale: Chicago North
- Gross Income: 159876
- Gross Rent Multiplier: 10.9
- Gross Scheduled Income: 164233
- Heat/Ventilation: Central Heat/Indiv Controls, Forced Air
- Information: List Broker Must Accompany
- Insurance Expense: 6033
- Location: Central Business District, Public Transport Avail, In City Limits
- Lot Size Square Feet: 3750
- Main Type: Commercial Sale
- Operating Expense: 58509
- Original Rental Price: 26.5
- Other Expense: 18122
- Outdoor Parking: 1-5 Spaces
- Property Sub Type: Mixed Use
- Rental Price: 26.5
- Retail SqFt: 2432
- Roof Structure: Flat
- Tax Annual Amount: 28872
- Tax Year: 2024
- Tenant Pays: Air Conditioning, Electricity, Heat, Insurance
- Total Annual Expense Source: Combination
- Total Monthly Income: 13323
- Township: Lake View
- Trash Expense: 2253
- Water Sewer Expense: 1729
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