3014 Irving Park RdChicago, IL 60618

Property Details for 3014 Irving Park Rd

Year built

1915

Construction

FRAME

Lot size

0.13 AC

Property size (Sq ft)

6,085 SF

Property type

Residential income properties

Property subtype

Residential income homes

APN

13-13-327-027

APU

1313327027

Description

This exceptional mixed-use property at 3014 W Irving Park Road, Chicago, IL 60618, presents a compelling investment opportunity. The 7,267 square foot building sits on a 5,850 square foot lot and boasts a prime location with over 41,000 cars passing daily. The property features a thriving retail space fully occupied by Windy City Playhouse, a well-established theater with a substantial, nearly $1,000,000 build-out, including a bar, stage, seating, dressing rooms, kitchen, and extensive lighting. Windy City Playhouse is secured by a seven-year lease (commencing 2015) with a five-year extension option, ensuring stable income. In addition to the retail space, the building includes three residential units, all recently renovated with updated mechanicals, plumbing, and modern finishes. The property is classified as a Class B, stabilized investment with a modified lease structure and 100% occupancy. The asking price is $1,100,000, translating to $151.37 per square foot. This two-story building offers a unique blend of retail and multifamily income streams, making it an attractive addition to any portfolio. The property's strong tenant, prime location, and recent renovations make it a truly exceptional investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $2,271,290

  6.5%

  $2,096,575

  7%

  $1,946,820

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,228,486

  Geo Method

  $1,228,486

• Alternative Use

  Use

  Valuation

  Residential

  $2,096,575

  Hospitality

  $1,920,452

  Educational

  $1,597,793

  Medical

  $1,652,744

  Retail

  $2,485,456

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9543

Longitude

-87.7038

CBSA code

16980

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].