$ 5,250,000
3159 N California Avenue Chicago, IL 60618
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$ 5,250,000
Est. payment | /mo
$ 5,250,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 11963555
Annual Tax Amount $84,550
Tax Year 2022
Lot Dimensions 18,812 SQ FT
Property Description
Best location on 3 major corners (Belmont, California and Elston Avenues) with numerous car count passing each street every day on all 3 of these major streets. Tenants are long time tenants. Plus rental income that easily could be increased to today's rental rates. There is an opportunity for "value added" to increase apartment rents. Present rents are under market value. Incredible land square footage. Corner building is 18,812 square feet with 159 linear feet on Belmont Avenue. 3173 Elston Avenue is 4,500 square foot lot with a 4,200 square foot 1 story brick building under a triple net lease. Each apartment and each store pay their own and have individual forced air conditioning and heat units. Each apartment enjoys their own roof deck and there is a common roof deck for the tenants. There is a 19 car shared parking lot adjoining the properties. The properties are meticulously cleaned and well kept. There are 7 stores, 9 apartments plus income from a rooftop sign. The properties are in excellent condition but the properties will be sold "as is where is". The sale would be subject to a "1031 Exchange". Same ownership for over 55 years. Financial information available on request. Proof of funds required on all offers. The properties will not be divided. Confirmed showings only.
Location
State IL
County Cook
Zoning OTHER
Interior
Cooling Central Air
Fireplace N
Exterior
View Y/N true
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Joyce Gallo • @properties Christie's International Real Estate
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "