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Jorel Kilcullen

jorelkilcullen@gmail.com +1(815) 790-4276

$1,350,000

Est. payment - /mo

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Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12476091

Year Built 1904

Annual Tax Amount $20,973

Tax Year 2023

Lot Dimensions 29246

Property Sub-Type Mixed Use

Property Description

HUGE VALUE-ADD OPPORTUNITY - Come check out this ICONIC mixed-use, value-add 12 unit building in Chicago's incredible East Beverly neighborhood! This all-brick, beautiful building was built in 1904 and contains 6 retail storefronts on the main floor and 6 residential apartments on the 2nd floor. Sitting on one of Beverly's main thoroughfares - 103rd street, this property provides retail owners a ton of vehicle and foot traffic to bring in business. Both the apartments and storefronts have been easy to rent quickly with little to no marketing effort. The property sits on a giant lot with a massive garage to the South of the main building. This area provides a ton of opportunity to the new buyer potentially for the addition of more units, storage or covered / enclosed garage space to generate additional revenue. Rents are currently way under market with plenty of room for increases with efficient management. The back of the building is also currently used as a small gathering spot for the tenants to relax, play and / or bbq. All tenants have central HVAC for heating and cooling which was upgraded in the early 2000s. Roofs have been resealed in the past 5 years. Over a dozen parking spots in the rear of the building as well. Currently priced at over an 8 CAP but with better management and getting rents to market this could easily be a 10+ CAP building. This property has unlimited potential and upside with the right plan. Schedule a showing today!

Location

State IL

County Cook

Area Chi - Beverly

Interior

Cooling Central Air

Flooring Wood

Fireplace N

Building

Dwelling Type Mixed Use

Structure Type Brick

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Listed by Andrew Dorazio of Dorazio Real Estate LLC

Nearby School & Business

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Jorel Kilcullen

+1(815) 790-4276

Broker | License ID: 478.026444

Broker License ID: 478.026444

1441 W 103rd ST Chicago, IL 60643

Jorel Kilcullen

Key Details

Location

Interior

Building

Nearby School & Business

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