3265 Armitage AveChicago, IL 60647

Property Details for 3265 Armitage Ave

Year built

1896

Construction

FRAME

Lot size

0.09 AC

Property size (Sq ft)

3,350 SF

Property type

Residential income properties

Property subtype

Residential income homes

APN

13-35-404-007

APU

1335404007

Description

This exceptional mixed-use property, located at 3265 W Armitage Avenue in Chicago's vibrant Logan Square neighborhood (zip code 60647), presents a compelling investment opportunity. The property consists of three lots totaling 11,250 square feet (75' x 150'), with a 3,350 square foot, two-story building currently vacant. The building is classified as Class C and zoned B3-1, offering significant flexibility for redevelopment or continued use as a medical office. The property boasts outstanding frontage and visibility on Armitage Avenue, with high daily traffic volume (13,300 vehicles per day) and a single curb cut for convenient access. The existing structure offers 3,350 square feet of net rentable space, suitable for various professional uses, including law firms, insurance agencies, financial services, medical or dental practices, educational institutions, or real estate businesses. Alternatively, the substantial lot size and favorable zoning make it an ideal site for new construction. The property's Cook County Assessor Parcel Numbers (APNs) are 13354040070000, 13354040080000, and 13354040090000, with a combined annual property tax of $17,134.79. The asking price is $975,000. Nearby businesses include A & R Shoes, All Star Pet Care, Haru Sushi Restaurant, Festive Collective, La Estrella, Big Bud Press, Ground Control Restaurant, and Scissorhand Salon. This property offers a unique blend of existing infrastructure and significant development potential in a thriving Chicago neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $1,250,423

  6.5%

  $1,154,236

  7%

  $1,071,791

• Comparable approach

  Method

  Valuation

  Relative Method

  $676,323

  Geo Method

  $676,323

• Alternative Use

  Use

  Valuation

  Residential

  $1,154,236

  Hospitality

  $1,057,274

  Educational

  $879,640

  Medical

  $909,892

  Retail

  $1,368,328

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9171

Longitude

-87.7096

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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