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About the Listing 87249 - 127463
First time for sale in 47 years High exposure Taylor/Western T-intersection. Double storefront with 4 residential units and 2 oversized 2-car garages with very high ceilings. Located in the UIC West Campus "Tri-Taylor" neighborhood. Roosevelt Rd is directly south and I-290 is directly north. The Illinois Medical District and the 4 main hospitals i.e. Rush, UIC, Cook County and West Side VA are walking distance directly east. As well as the UIC medical, pharmacy, dental and nursing schools. There are (3) buses Western, Harrison and Roosevelt. And Blue line EL. All in walking distance. And 5 minutes to downtown. This is a huge rental area, due to everything above, and maintains almost full occupancy at all times. With reliable annual rental increases. Very high demand with limited supply. Perfect opportunity for an armchair investor or and owner/operator. Rapidly developing neighborhood with new construction popping up everywhere The storefronts are newly remodeled and rented ($1600) and ($1400) as well as one of the four residential units. ($1600) The other 3 residential units, are older rehab ($1400) and have long term tenants at below market rents. (4) Garage spots rent for $100/ea. Garage is under-rented Current gross income = $9200/mo. ($110,400). Full market rent in current condition = $10,400/mo. ($124,800). Cosmetic upgrade of the (3) older units will = $11,400/mo +/- ($136,800). ^^^ The above numbers are achievable 12-24 months There is also a standing height double basement for storage or other use. As well as a built out interstitial area between building and garage for extra storage/use. Enclosed porches
Listing Highlights
Status
Active
Days on Site
301
Property Type
Commercial Sale
MLS ®
12436814
Year Built
1881
Total Square Footage
6,678
Lot/Acreage
0.1
County
Cook
Area
CHI - Near West Side
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Central Air
- Heating: Forced Air,Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 40 x 114
- Zoning: COMMR
- Roof:
- Others:
- Sewer:
- Parking Features: 1-5 Spaces
Financial Details
- Tax Amount: $12,099
- Taxes w/Assessments: N/A
- Tax/Property ID: 16134240450000
- Tax Year: 2024
Payment Calculator
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Questions About..
1012 S Western Ave Chicago, IL 60612
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