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5542 W North Avenue

Chicago, IL 60639
  • $330,000
  • STATUS: Active
  • ON SITE: 359 Days
  • MLS #: 11768236
$330,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1931
County:
Area:

School Ratings & Info

Description

Investment opportunity -- 10.5% cap rate -- in North Austin provides reliable monthly income from two 3-bedroom apartments on Housing Choice Vouchers plus seller is operator of successful ground-level sandwich shop who would like a sale-leaseback. Separate HVAC setup, including individual central air. Tenants pay $1,600 each plus all utilities except water. Ground-level space rents for $1,000 but business and LLC that owns building is controlled by same person. Expenses do not include costs of restaurant operation as they are now paid by owner and would continue to be under sale-leaseback. Full basement. Frontage benefits from 23,100 cars per day per IDOT. Roof replaced two years ago. Brick building at less than $77 per sf! Building should produce 7.6% cash-on-cash return (based on 25% down, 8.5% interest, 25-year amortization).

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© 2024 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 Suburban Life Realty. Based on information submitted to the MRED as of 2024-04-19T21:09:10.56 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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5542 W North Avenue Chicago, IL 60639

  • Price: $330,000
  • Status: Active
  • On Site: 359 Days
  • MLS #: 11768236
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1931
Built
Neighborhood:
Chi - Austin
County:
Cook
Area:
Chi - Austin
Property Description
Investment opportunity -- 10.5% cap rate -- in North Austin provides reliable monthly income from two 3-bedroom apartments on Housing Choice Vouchers plus seller is operator of successful ground-level sandwich shop who would like a sale-leaseback. Separate HVAC setup, including individual central air. Tenants pay $1,600 each plus all utilities except water. Ground-level space rents for $1,000 but business and LLC that owns building is controlled by same person. Expenses do not include costs of restaurant operation as they are now paid by owner and would continue to be under sale-leaseback. Full basement. Frontage benefits from 23,100 cars per day per IDOT. Roof replaced two years ago. Brick building at less than $77 per sf! Building should produce 7.6% cash-on-cash return (based on 25% down, 8.5% interest, 25-year amortization).
Exterior Features

Exterior Building Type Brick Foundation Details Concrete Perimeter Frontage Type City StreetPublic RoadState Road Outdoor Parking 1-5 Spaces Parking Total 3 Roof Structure Flat

Interior Features

Cooling Central Individual Heat Ventilation Central Heat/Indiv Controls

Property Features

Additional Parcels YN No Approximate Age Older Building Area Total 4292 Built Before1978 YN Yes Electric Circuit BreakersService - 0 to 100 Amps Fire Protection None Geographic Locale Chicago West Gross Income 50400 Gross Scheduled Income 50400 Insurance Expense 7200 Location Mixed Use AreaPublic Transport AvailIn City LimitsHigh Traffic Area Mls Actual Status Active Net Operating Income 34558 Number Of Tenants 2 Operating Expense 15842 Ownership Types CorporationLimited Partnership Possible Use CommercialOffice and ResearchMulti-FamilyRetail Property Sub Type Mixed Use Rental Price 0 Seller Needs CashNew Opportunity Tax Annual Amount 4114 Tax Year 2022 Tenant Pays Air ConditioningElectricityHeat Total Monthly Income 4200 Type Mixed Use Zoning COMMR

Listing information © 2024 Midwest Real Estate Data LLC.
Listing provided courtesy of Coldwell Banker Realty: 708-524-1100.


© 2024 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 Suburban Life Realty. Based on information submitted to the MRED as of 2024-04-19T21:09:10.56 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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