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Mario Bilotas

mario@fourdaughtersrealestate.com +1(847) 910-5022

$ 1,050,000

Est. payment -/mo

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Price Dropped by $50K

1012 S Western AVE Chicago, IL 60612

6,678 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 6,678 sqft

Price per Sqft $157

MLS Listing ID 12436814

Year Built 1881

Annual Tax Amount $12,099

Tax Year 2024

Lot Dimensions 40 x 114

Property Sub-Type Mixed Use

Property Description

First time for sale in 47 years High exposure Taylor/Western T-intersection. Double storefront with 4 residential units and 2 oversized 2-car garages with very high ceilings. Located in the UIC West Campus "Tri-Taylor" neighborhood. Roosevelt Rd is directly south and I-290 is directly north. The Illinois Medical District and the 4 main hospitals i.e. Rush, UIC, Cook County and West Side VA are walking distance directly east. As well as the UIC medical, pharmacy, dental and nursing schools. There are (3) buses Western, Harrison and Roosevelt. And Blue line EL. All in walking distance. And 5 minutes to downtown. This is a huge rental area, due to everything above, and maintains almost full occupancy at all times. With reliable annual rental increases. Very high demand with limited supply. Perfect opportunity for an armchair investor or and owner/operator. Rapidly developing neighborhood with new construction popping up everywhere The storefronts are newly remodeled and rented ($1600) and ($1400) as well as one of the four residential units. ($1600) The other 3 residential units, are older rehab ($1400) and have long term tenants at below market rents. (4) Garage spots rent for $100/ea. Garage is under-rented Current gross income = $9200/mo. ($110,400). Full market rent in current condition = $10,400/mo. ($124,800). Cosmetic upgrade of the (3) older units will = $11,400/mo +/- ($136,800). ^^^ The above numbers are achievable 12-24 months There is also a standing height double basement for storage or other use. As well as a built out interstitial area between building and garage for extra storage/use. Enclosed porches

Location

State IL

County Cook

Area Chi - Near West Side

Zoning COMMR

Interior

Cooling Central Air

Fireplace N

Building

Dwelling Type Mixed Use

Listed by Michael Ramstedt of Art of Real Estate LLC

Nearby School & Business

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MY BLOGS

Vacant Land Scams are REAL

My Recent Experience with an Unauthorised Land Seller About 6 months ago, I received an email from (let's call him) Charlie. A "nothing out of the ordinary" email from a common (and mildly validating) charlie.....@hotmail stating: "I have owned the lot for many years, but a couple of years ago I moved from Illinois to California, and I would like to sell the lot. If you could please provide me with a market valuation, that would be great. We are looking to make a quick decision on this. Thank you, Charlie"

THE FRONT PORCH SWING

Oh, the memories. I remember my girls spending countless hours swinging front to back and side to side, hanging out with the neighborhood kids, splashing with the water hose, or crafting top-secret plans with their imaginations. It was awesome. How times have changed. With my two youngest girls slowly nearing college graduation and my older girls working hard in their careers, the days of simple life are taken over by group texts and long-distance daily check-ins. It's just not the same.

less is more, unless, it's for less.

Each day, I'd get my MLS home showing sheets ready, the electronic key card that opens lock-boxes, get dressed with minutes turning into seconds frantically starring at the time ticking away. All ready but just need to ...find ....one matching sock.

Contact Us

Phone

+1(847) 910-5022

mario@fourdaughtersrealestate.com

Address

205 W. Miner Street, Arlington Heights, IL, 60005, USA