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About the Listing 88658 - 165285
This 33-unit mixed-use property, a bank-owned asset in Chicago's thriving North Austin neighborhood, presents an attractive investment opportunity in a historic urban setting. Constructed in 1925, the elegant terracotta building features 7 commercial storefronts, 20 one-bedroom/one-bathroom apartments, and 6 two-bedroom/one-bathroom apartments, creating a diverse and stable revenue stream. The property's varied unit mix appeals to a wide range of tenants, from small businesses to residential renters. Significant value-add potential exists through targeted upgrades, including modernizing the commercial spaces (notably the vacant corner unit), enhancing on-site parking, and improving laundry facilities. With strategic renovations and efficient property management, investors can unlock substantial cash flow and long-term appreciation in Chicago's dynamic rental market. Located in a vibrant, historic community with strong demand, this property is ideal for those looking to capitalize on the city's growing real estate opportunities.
Listing Highlights
Status
Active
Days on Site
203
Property Type
Multi-Family
MLS ®
12390171
Year Built
1925
Total Square Footage
22,546
Lot/Acreage
0.28
County
Cook
Area
CHI - Austin
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating: Hot Water
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 98X125
- Zoning: COMMR
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $30,206
- Taxes w/Assessments: N/A
- Tax/Property ID: 16052300320000
- Tax Year: 2023
Payment Calculator
Monthly Payment
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Questions About..
5636-48 W Division St Chicago, IL 60651
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