11000 Michigan AveChicago, IL 60628

Property Details for 11000 Michigan Ave

Year built

1927

Lot size

0.41 AC

Property size (Sq ft)

1,600 SF

Property type

Retail properties

Property subtype

Retail space

APN

25-15-320-014

APU

2515320014

Description

This exceptional mixed-use property, located at 11000 S Michigan Ave in Chicago's Roseland neighborhood (zip code 60628), presents a compelling value-add investment opportunity. Priced at $1,980,000, the property boasts a diverse unit mix comprising 66 units: 15 studios, 33 one-bedroom apartments, one two-bedroom apartment, seven retail spaces, and ten office spaces. Currently, all apartment units are vacant, offering significant potential for redevelopment and repositioning. However, the presence of one active commercial tenant and well-maintained office spaces provides a potential immediate income stream, mitigating the need for extensive upfront capital improvements. Individually metered utilities simplify management. The property benefits from its strategic location on a major thoroughfare within the Roseland neighborhood, which is experiencing ongoing revitalization. This location offers tenants convenient access to various retail amenities, parks, and educational institutions, all within a well-connected urban environment. This presents a unique chance to capitalize on Chicago's dynamic real estate market. The property's strong fundamentals and redevelopment potential make it an attractive investment for those seeking significant returns.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.6942

Longitude

-87.6213

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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