6056 North AveChicago, IL 60639

Property Details for 6056 North Ave

Year built

1922

Property type

Mixed-use properties

Property subtype

Other retail properties

Description

This exceptional mixed-use property at 6056 W North Ave, Chicago, IL 60639, presents a compelling investment opportunity. The two-story, 1922-built building boasts a prime corner lot spanning 3,500 square feet. It features five fully occupied units, generating a strong net operating income (NOI) of $72,744. The upper floor comprises two residential apartments: a three-bedroom, one-bathroom unit and a two-bedroom, two-bathroom unit. The ground floor houses three retail spaces, two currently leased, with one large corner unit recently vacated, offering immediate potential for increased revenue. Adding to the income stream is a long-term leased billboard. Recent improvements include a newer roof and some new windows. This stabilized investment, situated in a thriving Chicago neighborhood, offers a variety of possibilities for future development and tenant diversification. The property's location makes it ideal for a range of retail businesses, including corner stores, barber shops, or restaurants. The asking price is $625,000. This is a rare chance to acquire a well-maintained, income-producing asset in a high-growth area.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9094

Longitude

-87.7774

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