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$2,500,000

Est. payment - /mo

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22,546 SqFt

New

5636-48 W Division ST Chicago, IL 60651

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Cristina Gluszek

cristinagluszek@gmail.com +1(815) 557-3821

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Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 22,546 sqft

Price per Sqft $110

MLS Listing ID 12390171

Maintenance Fees $6,000

Year Built 1925

Annual Tax Amount $30,206

Tax Year 2023

Lot Dimensions 98X125

Property Sub-Type Multi Family 5+

Property Description

This 33-unit mixed-use property, a bank-owned asset in Chicago's thriving North Austin neighborhood, presents an attractive investment opportunity in a historic urban setting. Constructed in 1925, the elegant terracotta building features 7 commercial storefronts, 20 one-bedroom/one-bathroom apartments, and 6 two-bedroom/one-bathroom apartments, creating a diverse and stable revenue stream. The property's varied unit mix appeals to a wide range of tenants, from small businesses to residential renters. Significant value-add potential exists through targeted upgrades, including modernizing the commercial spaces (notably the vacant corner unit), enhancing on-site parking, and improving laundry facilities. With strategic renovations and efficient property management, investors can unlock substantial cash flow and long-term appreciation in Chicago's dynamic rental market. Located in a vibrant, historic community with strong demand, this property is ideal for those looking to capitalize on the city's growing real estate opportunities.

Location

State IL

County Cook

Area Chi - Austin

Zoning COMMR

Interior

Fireplace N

Building

Dwelling Type Multi Family 5+

Level or Stories 3

Structure Type Brick

Listed by David Geary • Geary's Realty LLC