5746 Western Ave, Chicago, IL 60659
6,091 SF | 67% Leased | Industrial Building | Chicago, IL 60659 | $729,900 ($120/SF) | 9% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 13 days
Asking Price $729,900
- Property Type
-
Industrial
- Price / Square Foot
- $120
Listing Contacts
James D'Astice
Verified Profile
- Property Info
Property Overview
Excellent opportunity to own/operate your business in this income generating 3 unit mixed-use building on a double lot (50x109) with 4 car garage parking. 3,460 sf ground floor commercial space currently used as a print shop with upgraded 240V amp 3 phase electric. Ground floor opens to a side yard with concrete patio. 2 apartments above both 1,300 sf. 2 bed, 1 bath units. Apartments both have W/D. Newer windows, 3 separate gas meters. Boiler heat for building, commercial with supplemental gas furnace heat and central AC for commercial space, apartments have window A/C units. Unfinished basement. Ground floor print shop is occupied by current owner which is relocating. Projected Gross Rental Income for building (fully rented) = ~$88k yr, Operating expenses = $22k, NOI = $65k. FULLY RENTED IN CURRENT CONDITION, THIS BUILDING SHOULD CAP 9%!! 2 lots with separate PINs, side lot can be developed. C1-2 zoning
Property Details
- Class
- C
- Year Built
- 1931
- Stories
- 3
- Property Subtype
- Distribution, Storefront Retail/Residential, Manufacturing, Office/Residential
- Lot Size (sq. ft)
- 5,227 SF
Highlights
- Located on double lot (50X109), second addition to building added in 1990s
- Over 3,000 SF of commercial space with upgraded 240V amp 3 phase electric, opens to a side yard with concrete patio
- 2 garages on site with 4 total parking spaces
- Incoming generating property with 2 apartments above commercial space, each with 1,300 SF (2BD/1BA)- Units rented under market
- Projected Gross Rental Income (fully rented) = ~$88k yr, Operating Expenses ~$22,500, NOI $65k = CAP 9%!!
- Owner/user on ground floor, business is relocating to different location
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