1656 W 79th St | Chicago, IL 60620
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1656 W 79th St
Chicago, IL 60620
Retail Salon and 8-unit Multi-Family Building · Retail Property For Sale
Investment Highlights
- Situated in the vibrant Chicago neighborhood of Auburn Gresham, offering excellent visibility and accessibility.
- Self-managed by the owner, reflecting meticulous care and attention to property maintenance.
- Includes residential units and a retail space, maximizing investment potential and versatility.
Executive Summary
Pleased to present this well-maintained 8-unit mixed-use/multifamily property in Chicago's Auburn Gresham neighborhood. The unit mix includes six one-bedroom, one-bathroom units, one two-bedroom, one-bathroom unit, and a salon retail space. Each residential unit features hardwood floors and modern kitchens and baths, while the salon has been recently remodeled with new flooring and lighting. The property includes a newly installed furnace for the salon, a refurbished boiler for the residential units, and recently updated plumbing risers. Additionally, there are laundry hookups in the basement for potential extra income and seven parking spaces in the rear. Self-managed by ownership, this property reflects pride of ownership and is conveniently located near public transportation, Midway Airport, and the Loop, making it appealing to commuters.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,507 SF
Building Class
C
Year Built
1966
Price
£387,733
Price Per SF
£86
Net Initial Yield
8.96%
NOI
£34,732
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
0.74
Lot Size
0.14 AC
Zoning
B1-2 - Neighborhood Shopping District
Parking
4 Spaces (0.89 Spaces per 1,000 SF Leased)
Frontage
83 ft on W79th St
Amenities
- Bus Route
- Corner Lot
PROPERTY TAXES
| Parcel Number | 20-30-434-037-0000 | Improvements Assessment | £45,910 |
| Land Assessment | £4,300 | Total Assessment | £50,210 |
PROPERTY TAXES
Parcel Number
20-30-434-037-0000
Land Assessment
£4,300
Improvements Assessment
£45,910
Total Assessment
£50,210
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