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Grand Ave Mixed Use Retail & Apartment Bldg 1216 W Grand Ave 4,850 sq ft 63% Let Retail Property Chicago, IL 60642 £744,290 (£153.46/sq ft) 2.67% Net Initial Yield
INVESTMENT HIGHLIGHTS
- 4,850 SF Three-story mixed-use Retail & Apartment building For Sale
- 2nd floor & 3rd floor apartments (Both leased Month to Month)
- Asking Sale Price: $995,000 Unique Live/Work Opportunity
- 1st Floor 1,800 SF Vacant Commercial Space (retail, office, service etc…)
- Two, 2 bedroom & 2 bath units rented for $2,200 per month each
- Located on North side of Grand Ave between Ogden Ave & Racine Ave
EXECUTIVE SUMMARY
For Sale: 3 Story Mixed Use retail/apartment Building
Asking Sale Price: $995,000
4,850 SF Bldg Size(1st Floor Retail & 2 apartment units)
1st Floor 1,800 SF (Vacant retail, office or service space)
2nd & 3rd floor apartments are leased with in-place income (Month to month leases)
Existing Monthly income = $4,400 per month
Ideal opportunity for user/investor to occupy
1st floor retail space and collect apartment lease income
Unique Live/Work Space opportunity
Located on North side of Grand Ave between Ogden Ave & Racine Ave
SUBJECT PROPERTY HIGHLIGHTS
• 4,850 SF Three-story mixed-use Retail & Apartment building For Sale
• 1st Floor 1,800 SF Commercial Space (retail, office, service etc…)
• 2nd floor & 3rd floor apartments (Both leased Month to Month)
(Two, 2 bedroom & 2 bath units rented for $2,200 per month each)
• includes numerous upgrades and renovations
• Zoning C1-2: Neighborhood Commercial District, Retail/Office and Apartments
• Lot Size: 2,544sf
• Private 2 Car Garage and Public Street Parking available
• Existing Monthly Income from 2 M/M apartment leases = $4,400 per month
• Real Estate Taxes: $16,506.61
• Current Occupancy: 67% (2 Apartments leased & 1 Vacant Retail space)
• Located just NW of Thriving Fulton Market District
• Excellent visibility near bustling Ogden & Grand Corridors
• PIN: 17-08-129-015-0000
• Located on North side of Grand Ave between Ogden Ave & Racine Ave.
• Ideal opportunity for user/investor to occupy 1st floor retail space and collect
apartment lease income
• Unique Live/Work Opportunity
Asking Sale Price: $995,000
4,850 SF Bldg Size(1st Floor Retail & 2 apartment units)
1st Floor 1,800 SF (Vacant retail, office or service space)
2nd & 3rd floor apartments are leased with in-place income (Month to month leases)
Existing Monthly income = $4,400 per month
Ideal opportunity for user/investor to occupy
1st floor retail space and collect apartment lease income
Unique Live/Work Space opportunity
Located on North side of Grand Ave between Ogden Ave & Racine Ave
SUBJECT PROPERTY HIGHLIGHTS
• 4,850 SF Three-story mixed-use Retail & Apartment building For Sale
• 1st Floor 1,800 SF Commercial Space (retail, office, service etc…)
• 2nd floor & 3rd floor apartments (Both leased Month to Month)
(Two, 2 bedroom & 2 bath units rented for $2,200 per month each)
• includes numerous upgrades and renovations
• Zoning C1-2: Neighborhood Commercial District, Retail/Office and Apartments
• Lot Size: 2,544sf
• Private 2 Car Garage and Public Street Parking available
• Existing Monthly Income from 2 M/M apartment leases = $4,400 per month
• Real Estate Taxes: $16,506.61
• Current Occupancy: 67% (2 Apartments leased & 1 Vacant Retail space)
• Located just NW of Thriving Fulton Market District
• Excellent visibility near bustling Ogden & Grand Corridors
• PIN: 17-08-129-015-0000
• Located on North side of Grand Ave between Ogden Ave & Racine Ave.
• Ideal opportunity for user/investor to occupy 1st floor retail space and collect
apartment lease income
• Unique Live/Work Opportunity
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per sq ft | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per sq ft | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
PROPERTY FACTS
Sale Type
Investment or Owner Occupier
Property Type
Retail
Property Subtype
Property Size
4,850 sq ft
Costar Property Class
C
Year Built/Renovated
1915/2018
Price
£744,290
Price per sq ft
£153.46
Yield
2.67%
NOI
£19,905
Occupancy Rate
63%
Tenancy
Multiple
Number of Floors
3
Plot ratio
1.91
Total Plot Size
0.06 ac
Use Class
C1-2
Parking
2 Spaces (0.41 Spaces per 1,000 sq ft Leased)
Frontage
93 ft on Grand Ave
AMENITIES
- 24 Hour Access
- Signage
- Skylights
- Tenant Controlled HVAC
- Air Conditioning
Walk Score®
Excellent pedestrian access (96)
Transit Score®
Excellent Public Transport (79)
Bike Score®
Ideal For Cyclists (97)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 17-08-129-015-0000 | Improvements Assessment | £56,118 |
| Land Assessment | £14,173 | Total Assessment | £70,291 |
PROPERTY TAXES
Parcel Number
17-08-129-015-0000
Land Assessment
£14,173
Improvements Assessment
£56,118
Total Assessment
£70,291
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Grand Ave Mixed Use Retail & Apartment Bldg | 1216 W Grand Ave
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