Address
409 Lake Street, Maywood, IL
Price
$ 620,000
Property Attributes
  • MLS#11838497
  • TypeCommercial
  • CountyCOOK
  • CityMaywood
  • AreaMaywood
  • Zip60153
  • StyleCommercial
  • Year Built1960
  • Taxes$ 22175
  • Price$ 620,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage2000
  • Lot Size9,012 SqFt
Data Source:
Midwest Real Estate Data (MRED)
Property Description

401 - 409 Lake Street, Commercial mixed-use building with great masonry in Maywood. (Good little money maker here.) Building is Approx 2,000 SQ FT, Land is 9,012.90 SQ FT. The property includes a 3-story commercial mixed-use building, a parking lot, a small 600 SQ FT (Approx) brick commercial building and plenty of additional land for potential commercial development. Features a first-floor retail showroom that is currently built out as a tire repair shop and two residential units. Paved side and rear-drive loading area and parking for about 20-plus cars. The tire shop pays $1,000 a month and has a 10-year lease, the 2nd floor apt is a 2 bed 1 bath with a lease that started on Sept 1,2022 and pays $1,150 per month. The 3rd-floor 1 bed 1 bath tenant pays $850 a month. Zoning is C-2 Pedestrian-Oriented Commercial, walking distance to the Maywood Metra stop and close to area expressways. This great property provides the perfect opportunity for an Investor, Developer or end user to acquire a boutique mixed-use building and more, right in the heart of the vibrant Maywood shopping district neighborhood. 9,400 Vehicles pass this location a day (VPD), and it is just east of the bustling Intersection of 5th and Lake street. This is an atypical chance to purchase a truly remarkable underutilized property with tremendous upside in rental potential or development. Area retailers and restaurants include - Walgreens, Taqueria El Duranguito, Maywood Express, Legends Grill and Music venue, Panaderia Puebla. Ownership will listen to all reasonable offers, do not bother tenant. Please call listing agent for a showing PIN NUMBERS - 15111250160000 - 15111250150000 - 15111250140000 15111250130000

Price History
7/20/2023 Listed $620,000

General Features

Cooling Wall Sleeve,Window Unit(s)
Utilities Electric to Site,Gas to Site,Sanitary Sewer,Water-Community,Water-Municipal,Water to Site
Possession Closing,Immediate,Negotiable
Roof Composition
Zoning COMMR
Construction Materials Brick
Year Built 1960
Electric Circuit Breakers,Service - 201 to 600 Amps
Tenant Pays Electricity,Varies by Tenant
Stories 3
Tax Year 2021
Current Use Commercial
Gross Income 36000
County Cook
Property Type Commercial Sale
Possible Use Commercial,Retail
Status Active
Directions 5 Ave and Lake street in Maywood,East to Address
City Maywood
Total Units 3
MLS Area Maywood
Lot Size Square Feet 9012
Street Name Lake
Tax Annual Amount 22175
Additional Parcels Y/N Yes
Days on Market 132
Lease Type Gross
Standard Status Active
Property Type Mixed Use

Interior Features

Flooring Carpet,Tile,Varies
Street Suffix Street

Exterior Features

Foundation Details Concrete Perimeter
Building Area Total 2000
Lot Dimensions 137.62 X 88.51 X 139.11 X 47.41
Frontage Type City Street,Public Road,State Road,Township Road
Exterior Brick

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 60153

Price
AVG $420K
$620K
Taxes
AVG $30,444
$22,175
Visits
AVG 140
169
Data Provided by Inside Real Estate®
Year Built
AVG 1946
1960
Walkscore
AVG 73
67
Data Provided by Walkscore® not using MLS data

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