1859 Chicago AveChicago, IL 60622

Property Details for 1859 Chicago Ave

Property size (Sq ft)

9,267 SF

Property type

Mixed-use properties

Property subtype

Other retail properties

Description

This exceptional mixed-use property, located at 1859 W Chicago Ave in Chicago's vibrant Ukrainian Village neighborhood, presents a compelling investment opportunity. The 9,267 square foot building boasts a prime corner location at the intersection of Chicago and Wolcott Avenues, offering excellent visibility and accessibility. The property features a highly stable tenant mix, including a long-term veterinary office tenant on the ground floor and six residential units on the upper three floors. All units underwent a complete renovation in 2020, ensuring minimal maintenance requirements for the new owner. The building's strong occupancy rate of 100% contributes to a substantial net operating income (NOI) of $190,383, resulting in an attractive 6.60% capitalization rate. Situated within the Chicago Avenue Transit-Oriented Development (TOD) boundaries, the property benefits from convenient access to public transportation and surrounding amenities. The surrounding area features a thriving mix of retail establishments, including nearby restaurants, bakeries, and a grocery store, further enhancing the property's appeal and rental potential. This four-story brick building sits on a 3,020 square foot lot and is zoned B3-2. The asking price is $2,849,000, representing a price per square foot of $307.43. This turnkey investment is ideal for those seeking a stable, high-performing asset in a rapidly growing Chicago submarket. The property's strong tenant mix, recent renovations, and prime location combine to create a truly exceptional investment opportunity. The Cook County Assessor's Property Identification Number (APN) is 17072010010000.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.896

Longitude

-87.6746

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