Address
1540 W NORTH Avenue, Chicago, IL
Price
$ 725,000
Property Attributes
  • MLS#11731800
  • TypeContingent
  • CountyCOOK
  • CityChicago
  • AreaCHI - West Town
  • Zip60622
  • Style
  • Year Built1900
  • Taxes$ 16340
  • Price$ 725,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size3,950 SqFt
Data Source:
Midwest Real Estate Data (MRED)
Property Description

Calling all business owners, investors and developers!!! This perfectly located property is a mixed-use building (commercial/ residential) with lots of potential; zoned C1-2; lot size 25x125 (survey is available upon request). Street level floor offers an operational bar/restaurant with a full kitchen and a basement (equipment is included, not the inventory). Basement has storage and office space. It's currently leased till 3/14/2024; monthly rent is $4300. Tenant pays own utilities, except water. 2nd level offers 5 office spaces (currently vacant) which can also be deconverted to a 3 Bed/ 1 Bath apartment. It's already plumbed for water, gas and electrical. 3rd level boasts a 3 Bed /1 Bath apartment with 2 outdoor spaces. It's currently vacant and used to collect monthly rent of $2,500 a month with some TLC it can be increase. 3 parking spots are located in the back of the building. Excellent location, close to public transportation and 90/94. Surrounded by Audi Fletcher Jones, Mercedes-Benz of Chicago, Hyatt Place Hotel, MB Financial Bank, 5/3 Bank and North Ave/ Division. Seller is very motivated to find the buyer who is willing to buy the building Sold AS-IS and willing to deal with city violations. For developers all violations will go away with tearing down the building. Architectural plans are available for purchase at additional cost.

Price History
3/6/2023 Listed $725,000

General Features

Cooling Central Air
Possession Closing
Zoning COMMR
Year Built 1900
Electric Circuit Breakers
Tenant Pays Air Conditioning,Electricity,Heat,Insurance,Scavenger,Other,Varies by Tenant
Stories 3
Township North Chicago
Property SubType Mixed Use
Tax Year 2021
Gross Income 126000
County Cook
Insurance Expense 5000
Property Type Commercial Sale
Contingency Attorney/Inspection
Status Contingent
Directions ON NORTH AVE-EAST OF ASHLAND
City Chicago
Total Units 3
MLS Area CHI - West Town
Lot Size Square Feet 3950
Street Name NORTH
Tax Annual Amount 16340
Electric Expense 888
Water Sewer Expense 2760
Additional Parcels Y/N No
Days on Market 298
Lease Type N/A
Standard Status Active Under Contract
Property Type Mixed Use

Interior Features

Street Suffix Avenue

Exterior Features

Lot Dimensions 25X125
Frontage Type City Street

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 60622

Price
AVG $760K
$730K
Taxes
AVG $12,183
$16,340
Visits
AVG 113
305
Data Provided by Inside Real Estate®
Year Built
AVG 1983
1900
Walkscore
AVG 93
95
Data Provided by Walkscore® not using MLS data

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