6,300 sq ft
Commercial: Retail/Stores - MLS# 12597834
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Description
Owner retired - motivated sale! Excellent investment or owner-user opportunity in Chicago's desirable Chatham business district. This one-story greystone and brick commercial property features six retail storefronts with strong visibility and 100 feet of frontage along busy Cottage Grove Avenue. The property is currently income-producing with four established tenants in place. Two stores are vacant. Tenants are responsible for all utilities except water. The rear of the property provides ample parking with 12+ spaces, a valuable amenity for both tenants and customers. There are 4 separate pin numbers. With some TLC and the right management from a savvy business owner, this property has the potential to generate substantial income. Sold "as is" condition. The building needs new roof!
Features
- Property Type: Commercial
- Sub Type: Retail/Stores
- Listing Status: Active
- County/Area: Cook County
- Zip Code: 60619
- Year Built: 1954
- Sq.Ft.: 6,300 sq ft
- Stories: 1
- Units: 6 units
- Zoning: COMMR
- # Of Tenants: 6
- Additional Parcels: Yes
- Building Area Total: 6300
- Construction Materials: Brick
- Directions: 83rd Street to Cottage Grove Ave turn North to the address.
- Electric: Circuit Breakers, Service - 0 to 100 Amps
- Fire Protection: Fire Extinguisher/s
- Gross Income: 118284
- Gross Rentable Area: 118284
- Gross Scheduled Income: 78684
- Heat/Ventilation: Forced Air, Gas
- Information: 24-Hr Notice Required, List Broker Must Accompany
- Insurance Expense: 8000
- Insurance Expense Source: Actual
- Investment (Y/N): Yes
- Leasable Area: 6300
- Location: Central Business District
- Lot Size Source: County Records
- Lot Size Square Feet: 12500
- Main Type: Commercial Sale
- Min Avail Sq Ft (Rentable): 1050
- Net Rentable Area: 62, 484
- Property Offered: For Sale Only
- Property Sub Type: Neighborhood Storefront
- Roof Structure: Flat
- Tax Annual Amount: 42800
- Tax Year: 2024
- Tenant Pays: Air Conditioning, Electricity, Heat
- Total Monthly Income: 6557
- Township: Hyde Park
- Water Expense Source: Actual
- Water Sewer Expense: 3066
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