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    5618 Western Avenue

    Chicago, IL 60659
    • $1,100,000
    • STATUS: Active
    • ON SITE: 259 days
    • MLS #: 10603924
    UPDATED: 78 min ago
    $1,100,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 12,925
      SQFT
    • $85
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1954
    County:

    School Ratings & Info

    Description

    3 property package for sale - 5618 N Western Avenue (.07 AC lot), 5620 N. Western Avenue (2-story mixed use building with 7,425 SF retail space and two residential apartments above), 5622 N. Western Avenue (5,500 SF single story auto building). All zoned C1-2 - ALLOWS FOR TWO STORY BUILDINGS to be built on vacant lot and auto building. Fantastic mixed-use property in a heavily populated part of Arcadia Terrace. The 5622 space is currently an auto shop with indoor parking for up to 12 cars. The 5620 storefront is a newly renovated vanilla box space and 40th Ward Aldermans office. The apartments above have wide rooms and wood floors. The 5618 space is gated and has space for an additional 10 cars. Recent upgrades to the property include new windows, tuckpointing, improvements to the roof and back porches, new electrical service (200 amp 3 phase meters), and upgraded plumbing. C1-2 zoning allows for a wide range of opportunities with this property - additional retail possibilites include warehouses, auto shops, and more. With three lots in one, you have plenty options! This property is on the populated N. Western Ave and right next to the beautifully scenic West Ridge Nature Preserve. There is easy access to CTA bus stops and other public transportation options. NOI is $83,765.68. Total 2018 real estate tax bill is $19,998. Total land site is 75' x 110'. 5618 lot is on a month-to-month lease for $700 per month. 5620 store is rented for $2,134.60 per month. 5620 apartments are rented for $1,350 per month each. 5622 commercial space rented for $3,900 per month. Arcadia Terrace is a quickly growing part of Chicago. The property is located near a range of new businesses starting in the area as well as high-end town-houses and single family homes. The area is praised for its multicultural influence and eclectic dining scene that draws many to the neighborhood.

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    © 2020 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or eXp Realty. Based on information submitted to the MRED as of 2020-09-23T09:51:48.13 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    5618 Western Avenue Chicago, IL 60659

    • Price: $1,100,000
    • Status: Active
    • Updated: 78 min ago
    • MLS #: 10603924
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    12,925
    SQFT
    $85
    $/SQFT
    1954
    Built
    Neighborhood:
    Chi - West Ridge
    County:
    Cook
    Area:
    Chi - West Ridge
    Property Description
    3 property package for sale - 5618 N Western Avenue (.07 AC lot), 5620 N. Western Avenue (2-story mixed use building with 7,425 SF retail space and two residential apartments above), 5622 N. Western Avenue (5,500 SF single story auto building). All zoned C1-2 - ALLOWS FOR TWO STORY BUILDINGS to be built on vacant lot and auto building. Fantastic mixed-use property in a heavily populated part of Arcadia Terrace. The 5622 space is currently an auto shop with indoor parking for up to 12 cars. The 5620 storefront is a newly renovated vanilla box space and 40th Ward Aldermans office. The apartments above have wide rooms and wood floors. The 5618 space is gated and has space for an additional 10 cars. Recent upgrades to the property include new windows, tuckpointing, improvements to the roof and back porches, new electrical service (200 amp 3 phase meters), and upgraded plumbing. C1-2 zoning allows for a wide range of opportunities with this property - additional retail possibilites include warehouses, auto shops, and more. With three lots in one, you have plenty options! This property is on the populated N. Western Ave and right next to the beautifully scenic West Ridge Nature Preserve. There is easy access to CTA bus stops and other public transportation options. NOI is $83,765.68. Total 2018 real estate tax bill is $19,998. Total land site is 75' x 110'. 5618 lot is on a month-to-month lease for $700 per month. 5620 store is rented for $2,134.60 per month. 5620 apartments are rented for $1,350 per month each. 5622 commercial space rented for $3,900 per month. Arcadia Terrace is a quickly growing part of Chicago. The property is located near a range of new businesses starting in the area as well as high-end town-houses and single family homes. The area is praised for its multicultural influence and eclectic dining scene that draws many to the neighborhood.
    Exterior Features

    Construction BrickConcrete Docks Drive-In Doors Foundation BlockConcrete Frontage Access City StreetPublic RoadState Road Location Central Business DistrictMixed Use Area Lot Dimensions 75 X 110 Lot Sq Ft 8250 Number Of Parking Spaces 10 Roof Coverings Tar And Gravel Roof Structure Pitched

    Interior Features

    Air Conditioning Wall Sleeve Fire Protection Alarm On Site Floor Finish CarpetTileVaries Indoor Parking 6-12 Spaces Miscellaneous Inside Private Restroom/SPublic Restroom/S Number Of Apts 2 Number Of Offices 1 Number Of Refrigs 2 Number Of Stores 1 Number Of Stories 1 Outdoor Parking 6-12 Spaces

    Property Features

    Age Older Built Before1978 YN Yes Electric Expense Source Actual Electrical Service Circuit Breakers101-200 Amps Electricity Expense 1776 Exterior Building Type BrickBlock Fuel Expense 0 Fuel Expense Source Broker Projection Geographic Locale Chicago North Gross Rental Income Amount 113208 Heat Ventilation Ceiling Units Insurance Expense 2927 Insurance Expense Source Actual Net Oper Income Amount 0 Net Operating Income Year 2018 Number Of Tenants 5 Other Expense Source Actual Other Expenses 3200 Rental Price 0 Tax Year 2018 Taxes 19998 Tenant Pays Other Total Annual Exp 29442 Total Annual Expense Source Actual Total Annual Income 113208 Total Monthly Income 9434 Township North Chicago Water Drainage Floor Drains Water Expense 1491 Water Expense Source Actual Zoning Type Commr

    Listing information © 2020 Midwest Real Estate Data LLC.
    Listing provided courtesy of Strauss Realty Ltd.


    © 2020 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or eXp Realty. Based on information submitted to the MRED as of 2020-09-23T09:51:48.13 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
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