Active
1003 W Armitage Avenue
Chicago IL, 60614
$2,799,900
$558.97 per sqft
Active
5,009 sqft
Other
Built in 1886
Courtesy of Citywide Real Estate
Don't miss this extraordinary and rare investment opportunity with a 6.86% CAP RATE in the highly sought-after Lincoln Park neighborhood! This fully stabilized, recently gut-renovated mixed-use property offers a premier investment experience, featuring four residential apartments and one retail space. Strategically located on a desirable street, the property boasts a prime position directly across from the Chicago Transit Authority's (CTA) Brown Line L Train Stop at Armitage. With 100% occupancy and strong rental income, this investment presents the potential for rent increases while keeping operating expenses low. The commercial tenant covers 40% of CAM (including property tax and insurance), while residential tenants pay for utilities (gas and electricity). Significant recent upgrades, such as a new roof and AC condensers installed in 2022, contribute to the property's long-term value. Each residential unit features hardwood floors, in-unit laundry, quartz countertops, stainless steel appliances, and individual HVAC units, ensuring maximum comfort and appeal for tenants. Take advantage of this exceptional mixed-use property in the heart of Lincoln Park, offering stability, growth potential, and an impressive return on investment for discerning investors.
11925147
MLSⓇ ID
November 6, 2023
Listed
August 23, 2024
Updated
Map
1003 W Armitage Avenue
Chicago IL, 60614
Interior Features
Total Stories
3
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
No
Exterior/Building Features
Lot Size
0.06 Acres
Other Property Details
Area Name
CHI - Lincoln Park
Taxes
$30,363
Tax Frequency
Annually
Days on Market
286
Garage
No
View
No
County
Cook
Pool
No
Courtesy of Citywide Real Estate, Junzhou Cui,
Listing Contact: 312-808-8899
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Data last updated 6:52 PM UTC, 8/23/2024