Adult 55+
Address
3159 N California Avenue, Chicago, IL
Price
$ 5,250,000
Property Attributes
- MLS#11963555
- TypeCommercial
- CountyCOOK
- CityChicago
- AreaCHI - Avondale
- Zip60618
- Style
- Taxes$ 84550
- Price$ 5,250,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size0.431864 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description
Best location on 3 major corners (Belmont, California and Elston Avenues) with numerous car count passing each street every day on all 3 of these major streets. Tenants are long time tenants. Plus rental income that easily could be increased to today's rental rates. There is an opportunity for "value added" to increase apartment rents. Present rents are under market value. Incredible land square footage. Corner building is 18,812 square feet with 159 linear feet on Belmont Avenue. 3173 Elston Avenue is 4,500 square foot lot with a 4,200 square foot 1 story brick building under a triple net lease. Each apartment and each store pay their own and have individual forced air conditioning and heat units. Each apartment enjoys their own roof deck and there is a common roof deck for the tenants. There is a 19 car shared parking lot adjoining the properties. The properties are meticulously cleaned and well kept. There are 7 stores, 9 apartments and a rooftop sign. The properties are in excellent condition but the properties will be sold "as is where is". The sale would be subject to a "1031 Exchange". Same ownership for over 55 years. Financial information available on request. Proof of funds required on all offers. The properties will not be divided. Confirmed showings only.
| Price History | |
|---|---|
| 1/25/2024 | Listed $5,500,000 |
| 4/15/2024 | 5% - $5,250,000 |
General Features
| Cooling | Central Air |
|---|---|
| Zoning | OTHER |
| Electric | Circuit Breakers |
| Tenant Pays | Air Conditioning,Heat |
| Stories | 2 |
| Township | North Chicago |
| Property SubType | Apts/Stores |
| Tax Year | 2022 |
| Gross Income | 498600 |
| County | Cook |
| Net Operating Income | 333548 |
| Operating Expense | 172552 |
| Insurance Expense | 25474 |
| Property Type | Commercial Sale |
| Status | Active |
| Directions | Belmont or Elston Avenues to California Avenue. Building is on the corner of all 3 streets. Plus there is a 2 flat building separated by drive in to parking lot. |
| City | Chicago |
| Total Units | 16 |
| MLS Area | CHI - Avondale |
| Lot Size Square Feet | 18812 |
| Street Name | California |
| Tax Annual Amount | 84550 |
| Electric Expense | 3878 |
| Fuel Expense | 3000 |
| Trash Expense | 1506 |
| Water Sewer Expense | 21000 |
| Additional Parcels Y/N | Yes |
| Days on Market | 87 |
| Standard Status | Active |
| Property Type | Mixed Use |
Interior Features
| Street Suffix | Avenue |
|---|
Exterior Features
| Lot Dimensions | 18,812 SQ FT |
|---|---|
| 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 60618
Price
Taxes
Visits
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 May 23, 2024 4:22 AM 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 May 23, 2024 4:22 AM UTC
