$975,000
$1,099,000
11.3%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 02/28/2024
Key Details
Sold Price $975,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 11932756
Sold Date 02/28/24
Year Built 1976
Annual Tax Amount $20,984
Tax Year 2022
Lot Dimensions 20680
Property Description
Welcome to this fantastic investment opportunity! Presenting a prime commercial multi-use property located in a bustling and sought-after neighborhood. This property offers the perfect blend of steady rental income from residential units and thriving commercial spaces, making it an excellent prospect for seasoned investors and first-time buyers alike. The property features a collection of well-maintained 1-bedroom, 1-bathroom residential rental units. All units are currently occupied by reliable long-term tenants, ensuring consistent cash flow and a hassle-free management experience. The residents enjoy the comfort and convenience of modern amenities, making it a highly desirable living space in the area. Not only does this property excel in the residential rental aspect, but it also boasts three flourishing commercial units. These commercial spaces are fully leased to thriving businesses, which guarantees a stable and attractive income stream. With diverse and established commercial tenants, this property showcases a solid and dependable investment opportunity. Fully Occupied: All residential and commercial units are currently occupied, eliminating any immediate concerns about vacancies. Long-Term Tenants: The presence of long-standing tenants ensures stability and demonstrates the appeal of this location to businesses and residents alike. High Net Operating Income: With an impressive Net Operating Income (NOI) of $94,371, this property delivers substantial profitability and a great return on investment. Don't miss this opportunity to own a well-performing commercial multi-use property with a blend of stable residential income and flourishing commercial ventures. Whether you're an experienced investor looking to expand your portfolio or a savvy entrepreneur seeking a reliable source of passive income, this property has everything you need and more!
Location
State IL
County Cook
Zoning MULTI
Interior
Cooling Central Air, Wall Sleeve
Fireplace N
Exterior
View Y/N true
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Bought with Faraz Mota • USA Realty Group Inc