Under contract
Contingent
5542 W North Avenue
Chicago IL, 60639
$330,000
$76.89 per sqft
Under contract
Contingent
4,292 sqft
Other
Built in 1931
Courtesy of Coldwell Banker Realty
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. Apartments rent for $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).
11768236
MLSⓇ ID
April 26, 2023
Listed
September 2, 2024
Updated
Map
5542 W North Avenue
Chicago IL, 60639
Interior Features
Total Stories
3
Fireplace
No
Cooling
Yes
Cooling Description
Central Individual
Heating
No
Exterior/Building Features
Lot Size
0.07 Acres
Other Property Details
Area Name
CHI - Austin
Taxes
$4,114
Tax Frequency
Annually
Days on Market
495
Garage
No
View
No
County
Cook
Pool
No
Zoning
COMMR
Listing History
Date | Event | Price |
|---|---|---|
6/16/2024 | Under contract | — |
Courtesy of Coldwell Banker Realty, Mark Ruda,
Listing Contact: 312-719-7586
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Data last updated 1:18 AM UTC, 9/2/2024
