Address
100-116 E 51st Street, Chicago, IL
Price
$ 1,350,000
Property Attributes
- MLS#12009534
- TypeCommercial
- CountyCOOK
- CityChicago
- AreaCHI - Grand Boulevard
- NeighborhoodWashington Park
- Zip60615
- StyleCommercial
- Year Built1940
- Taxes$ 47535
- Price$ 1,350,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage17500
- Lot Size0.440771 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description
BRONZEVILLE! POTENTIAL & VISION! Approximately 17,500 SF two story building (+ partial basement) on a 19,200 sq ft site. The ground floor is 100% leased and the second floor ready for your ideas. Previously 2nd flr housed 17 apts. Remarkable possibilities! Ground floor fully leased to long term tenants for instant cash flow. The 9,180 SF second floor is wide open, with soaring ceiling heights to 14 feet. Additional possibilities to add square footage include adding 3rd floor loft space in a portion of the second floor and building out an existing very cool all masonry roof penthouse. Architectural plans available to construct a lobby, stair and elevator on Michigan Avenue with direct access to the concrete 17 car fenced, landscaped & irrigated parking lot. The possible uses are endless and include but are not limited to apartments, dramatic office space, medical, gym, basketball, pickleball, dance studio, restaurant, theater, doggie daycare, gallery and many other possibilities. Possible TIF, Invest South/West and more. Super close to the Green Line & Red Line trains and 90/94.
| Price History | |
|---|---|
| 3/20/2024 | Listed $1,350,000 |
General Features
| Cooling | Central Air |
|---|---|
| Possession | Closing |
| Roof | Rubber |
| Zoning | COMMR |
| Year Built | 1940 |
| Electric | Circuit Breakers |
| Tenant Pays | Common Area Maintenance,Electricity,Heat,Taxes,Insurance,Scavenger,Sewer |
| Stories | 2 |
| Township | Hyde Park |
| Tax Year | 2022 |
| Current Use | Commercial |
| Gross Income | 168122 |
| County | Cook |
| Net Operating Income | 111871 |
| Operating Expense | 56251 |
| Insurance Expense | 8866 |
| Property Type | Commercial Sale |
| Status | Active |
| Directions | North East Corner of 51st St / Michigan Ave |
| City | Chicago |
| Total Units | 7 |
| MLS Area | CHI - Grand Boulevard |
| Lot Size Square Feet | 19200 |
| Street Name | 51st |
| Tax Annual Amount | 47535 |
| Electric Expense | 176 |
| Water Sewer Expense | 1945 |
| Additional Parcels Y/N | Yes |
| Leasable Area | 9180 |
| Days on Market | 8 |
| Lease Type | Net |
| Standard Status | Active |
| Property Type | Retail/Stores |
| Total Actual Rent | 7650 |
Interior Features
| Street Suffix | Street |
|---|
Exterior Features
| Building Area Total | 17500 |
|---|---|
| Lot Dimensions | 160X120 |
| Frontage Type | City Street |
| Exterior | Brick,EIFS (e.g. Dryvit). |
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 60615
Price
Taxes
Visits
Year Built
