Price Reduction
Address
1441 W 103rd Street, Chicago, IL
Price
$ 1,475,000
Property Attributes
- MLS#11775757
- TypeCommercial
- CountyCOOK
- CityChicago
- AreaCHI - Beverly
- Zip60643
- Style
- Year Built1904
- Taxes$ 20810
- Price$ 1,475,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size0.671396 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description
NEW PRICE! Come check out this ICONIC mixed-use, value-add 12 unit building in Chicago's incredible East Beverly neighborhood! This all-brick, beautiful building was built in 1904 and contains 6 retail storefronts on the main floor and 6 residential apartments on the 2nd floor. Sitting on busy 103rd street, this property provides retail owners a ton of vehicle and foot traffic to bring in business. Both the apartments and storefronts have been easy to rent quickly with little to no marketing effort. The property sits on a giant lot with a massive garage to the South of the main building. This area provides a ton of opportunity to the new buyer potentially for the addition of more units, storage or covered / enclosed garage space to generate additional revenue. Rents are currently under market with plenty of room for increases with efficient management. The back of the building is also currently used as a small gathering spot for the tenants to relax, play and / or bbq. All tenants have central HVAC for heating and cooling which was upgraded in the early 2000s. Roofs have been resealed in the past 5 years. Over a dozen parking spots in the rear of the building as well. Currently priced at a 7.75 CAP but with better management and getting rents to market this could easily be a 9+ CAP building. This property has unlimited potential and upside with the right plan. Schedule a showing today!
| Price History | |
|---|---|
| 5/5/2023 | Listed $1,600,000 |
| 7/19/2023 | 2% - $1,575,000 |
| 1/4/2024 | 5% - $1,500,000 |
| 3/22/2024 | 1% - $1,499,000 |
| 5/30/2024 | 2% - $1,475,000 |
General Features
| Cooling | Central Air |
|---|---|
| Construction Materials | Brick |
| Year Built | 1904 |
| Electric | Circuit Breakers,Separate Meters,Service - 101 to 200 Amps |
| Tenant Pays | Air Conditioning,Electricity,Heat |
| Stories | 2 |
| Township | Lake |
| Property SubType | Mixed Use |
| Tax Year | 2021 |
| Gross Income | 161760 |
| County | Cook |
| Net Operating Income | 116107 |
| Operating Expense | 45653 |
| Insurance Expense | 4500 |
| Property Type | Commercial Sale |
| Status | Active |
| Directions | From Vincennes,head west on 103rd Street,property will be on the left just past Charles St. From Western,head east on 103RD St property will be on the right just before Charles St. |
| City | Chicago |
| NumberOfUnitsTotal | 12 |
| MLS Area | CHI - Beverly |
| Lot Size Square Feet | 29246 |
| Street Name | 103rd |
| Tax Annual Amount | 20810.8 |
| Electric Expense | 1300 |
| Fuel Expense | 2250 |
| Trash Expense | 2375 |
| Water Sewer Expense | 2800 |
| Additional Parcels Y/N | Yes |
| Days on Market | 397 |
| Standard Status | Active |
| Property Type | Mixed Use |
Interior Features
| Street Suffix | Street |
|---|
Exterior Features
| Lot Dimensions | 29246 |
|---|
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 60643
Price
Taxes
Visits
Year Built
Walkscore
Midwest Real Estate Data (MRED) All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than NextHome Select Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2024 All rights reserved.Based on information submitted to the MLS GRID as of June 17, 2024 3:35 PM UTC All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice.
Data is updated as of June 17, 2024 3:35 PM UTC
