2032 E 79th Street
Chicago, IL 60649

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Description

Located along the re-emerging 79th Street corridor in HIGHLY SOUGHT AFTER SOUTH SHORE this mixed-use building offers STRONG INCOME potential for the almost any investor The property includes approximately 4,900 SQUARE FEET OF COMMERCIAL STOREFRONT, two OVERSIZED 3 BEDROOM residential units, and rear PARKING FOR 5+ vehicles. With flexible zoning and corridor visibility, this asset is WELL POISED for repositioning, stabilization, or long-term REDEVELOPMENTand has the ability to leverage public and community-based funding tools that can significantly enhance returns. Set up your viewing and we can show you how programs that exist can help like: TIF (Tax Increment Financing), Community Development Grants, Small Business Improvement Programs (SBIF) Community Development Block Grant (CDBG) Funding Energy Efficiency and Sustainability Programs ComEd rebates, state energy grants, and federal tax reduction programs for upgrading to efficient HVAC, lighting, or building Workforce and Job Creation Funding programs New Markets Tax Credits (NMTC) With its PROXIMITY to the OBAMA PRESIDENTIAL CENTER, lakefront access, strong residential density, and infrastructure investment this B3-2 ZONED parcel has the flexibility you want when you have the ability to combine Commercial and Residential. Sold AS-IS, WHERE-IS, this is a strategic acquisition for investors and owner-operators who understand how to align private capital with public funding. Contact to set up your private tour and receive detailed information

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60649
• Year Built: 1923
• Stories: 2
• Units: 5 units
• Zoning: COMMR
• # Of Apts: 2
• # Of Stores: 3
• # Of Tenants: 1
• Approximate Age: Older
• Built Before 1978 (Y/N): Yes
• Directions: East/West on 79th to Chappel, located on north east corner
• Electric: Circuit Breakers, Service - 201 to 600 Amps
• Electric Expense: 140
• Electric Expense Source: Broker Projection
• Fire Protection: Smoke or Fire Protectors, Carbon Monoxide Detector(s)
• Fuel Expense: 150
• Fuel Expense Source: Broker Projection
• Geographic Locale: Chicago South
• Gross Income: 1000
• Gross Rent Multiplier: 22.9
• Gross Scheduled Income: 12000
• Heat/Ventilation: Ceiling Units, Central Heat/Indiv Controls
• Information: List Broker Must Accompany, 48-Hr Notice Required, No Sign on Property, Standard
• Insurance Expense: 300
• Lot Size Square Feet: 14400
• Main Type: Commercial Sale
• Property Sub Type: Mixed Use
• Tax Annual Amount: 10011.78
• Tax Year: 2024
• Total Monthly Income: 1000
• Trash Expense: 100
• Water Expense Source: Broker Projection
• Water Sewer Expense: 200