4504 Irving Park RdChicago, IL 60641

Property Details for 4504 Irving Park Rd

Year built

2006

Lot size

0.09 AC

Property type

Retail residential properties

APN

13-15-318-076

APU

1315318076

Description

This exceptional mixed-use property, located at 4504 Irving Park Road in Chicago, Illinois, presents a lucrative investment opportunity. Built in 2011, this all-brick building boasts a total of 13,750 square feet situated on a 7,841 square foot lot. The property comprises eight units, offering a blend of residential and commercial space. Seven updated apartments are included, featuring a mix of spacious floor plans. Four units offer expansive 1,750 square feet of living space, each with two bedrooms and two bathrooms. Three additional units provide bright and open 1,250 square feet of living space, also with two bedrooms and two bathrooms. Each residential unit includes in-unit laundry (washer/dryer), hardwood floors, granite countertops, stainless steel appliances, and a fireplace. Complementing the residential units is a substantial 3,000 square feet of retail space, ideal for a variety of businesses. Ample parking is available, with designated spaces for each residential unit and the retail space. The asking price for this remarkable property is $2,675,000. This is a rare opportunity to acquire a well-maintained, high-performing mixed-use building in a desirable Chicago location with strong rental income potential. The property's attractive features and prime location make it an ideal investment for discerning buyers seeking a blend of residential and commercial income streams. The zip code is 60641.

• CAP approach

  CAP return

  Valuation

  6%

  $1,400,473

  6.5%

  $1,292,745

  7%

  $1,200,406

• Comparable approach

  Method

  Valuation

  Relative Method

  $757,482

  Geo Method

  $757,482

• Alternative Use

  Use

  Valuation

  Residential

  $1,292,745

  Hospitality

  $1,184,147

  Educational

  $985,196

  Medical

  $1,019,079

  Retail

  $1,532,528

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9538

Longitude

-87.7407

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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