$650,000
3400 W LAKE Street Chicago, IL 60624
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$650,000
Est. payment /mo
6,100 SqFt
Active
3400 W LAKE Street Chicago, IL 60624
UPDATED:
08/29/2024 04:23 PM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 6,100 sqft
Price per Sqft $106
MLS Listing ID 12024163
Year Built 1891
Annual Tax Amount $6,397
Tax Year 2022
Lot Dimensions 50X115
Property Description
Exceptional investment opportunity awaits in East Garfield Park, strategically positioned just steps away from the Conservatory and the Kedzie Green Line. This meticulously maintained 5-unit Mixed Use building boasts a diverse portfolio of four commercial units alongside one residential unit, all currently leased. The commercial spaces cater to a variety of needs, featuring a beauty salon, a barbershop, a religious institution, and an automobile tint shop. With the beauty salon secured on a lease until August 2028 and the remaining units on a month-to-month basis, this investment offers both stability and potential for future optimization. Benefiting from M1-3 zoning and a clean bill of health with no current building violations, this property has undergone extensive recent renovations, including plumbing updates, reinforced basement supports, tuckpointing, flashing enhancements, and electrical improvements. Moreover, the investment is bolstered by a streamlined utility structure, with tenants responsible for all expenses except water/sewer/trash, which are managed through two separate water bills. Positioned directly across from the scenic Garfield Park and boasting easy access to transportation hubs such as the Kedzie Green Line and Metra UP-W, as well as proximity to the 290 expressway, this property offers investors an unparalleled blend of convenience and potential for long-term growth. With its prime location near the iconic United Center and a mere 10-minute drive to Downtown, this investment opportunity promises lucrative returns in a rapidly evolving neighborhood ripe with potential.
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Central Air
Flooring Carpet, Wood
Fireplace Y
Exterior
View Y/N true
Building
Foundation Concrete Perimeter
Structure Type Brick
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Leticia Andrade • Fulton Grace Realty
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