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5542 W North Avenue,  Chicago IL, 60639

(Active)
$330,000
|
4,292 sqft
|
MLS# 11768236
Last Updated: 5/16/2024 7:14 AM
Description for 5542 W North Avenue Chicago, IL 60639
Investment opportunity -- 10.5% cap rate -- in North Austin provides reliable monthly income from two 3-bedroom apartments on Housing Choice Vouchers plus seller is operator of successful ground-level sandwich shop who would like a sale-leaseback. Separate HVAC setup, including individual central air. Tenants pay $1,600 each plus all utilities except water. Ground-level space rents for $1,000 but business and LLC that owns building is controlled by same person. Expenses do not include costs of restaurant operation as they are now paid by owner and would continue to be under sale-leaseback. Full basement. Frontage benefits from 23,100 cars per day per IDOT. Roof replaced two years ago. Brick building at less than $77 per sf! Building should produce 7.6% cash-on-cash return (based on 25% down, 8.5% interest, 25-year amortization).
Price
$330,000
Cook
4,292 (approx)
11768236
Active
Description
Investment opportunity -- 10.5% cap rate -- in North Austin provides reliable monthly income from two 3-bedroom apartments on Housing Choice Vouchers plus seller is operator of successful ground-level sandwich shop who would like a sale-leaseback. Separate HVAC setup, including individual central air. Tenants pay $1,600 each plus all utilities except water. Ground-level space rents for $1,000 but business and LLC that owns building is controlled by same person. Expenses do not include costs of restaurant operation as they are now paid by owner and would continue to be under sale-leaseback. Full basement. Frontage benefits from 23,100 cars per day per IDOT. Roof replaced two years ago. Brick building at less than $77 per sf! Building should produce 7.6% cash-on-cash return (based on 25% down, 8.5% interest, 25-year amortization).
Listing Information
Property Type: Mixed Use, Business Opportunities, 3+ Story
0.07 Acres 4,292 (approx) 1931
3 Brick Commercial, Multi-Family, Retail
Concrete Perimeter
3 Total
Neighborhood
Room Information
Exterior / Lot Features
Brick
25 X 125
COMMR
Driving Directions
1/2 block east of Central
Financial Considerations
13333190300000
$4,114
Listing Price History

Chicago Real Estate

Chicago is located in Illinois. Chicago, Illinois 60639 has a population of 2,781,445.

The median household income in Chicago, Illinois 60639 is $48,968. The median household income for the surrounding county is $68,916 compared to the national median of $66,222. The median age of people living in Chicago 60639 is 38 years.

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Courtesy: Coldwell Banker Realty
Listings courtesy of MRED as distributed by MLS GRID

Based on information submitted to the MLS GRID as of 5/16/2024. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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