SVN Chicago Commercial is pleased to present 1641-45 W. 79th Street in the Auburn Gresham neighborhood of Chicago. This asset is a three story mixed use with (2) Retail Spaces, (8) Studios and (10) 1 Bedroom 1 Bath units with about 6-8 parking spots. The asset is a B1-1 zoning on a busy 79th Street going through the heart of Auburn Gresham. The Retail spaces are occupied by a church who was been in the space since 2009 and the second space is occupied by a dollar store since 2014. The asset is constructed with Terracotta in front, a staple of architectural bliss. The opportunity is looking for an investor to add-value by improving the units and common areas. There is 800 AMPs servicing the building, (4) hot water heats 2011-2012, and some tuck pointing has been done. The heat is electric base boards and paid by the tenants. This is a great "add-value" opportunity!
The property is located in Chicago's Auburn Gresham neighborhood. The area development as a community dates back to the early 19th Century as it was once considered as the “Original Chicago”. This area boasts a broad array of cultural and social offerings such as landmark buildings, St. Sabina Church, Bungalow-Style housings, and brick apartment buildings from two units to 25+ units. The area is serviced by a Metra commuter rail system and CTA’s Red Line & Buses, and located approximately 11 miles from downtown Chicago a.k.a. The Loop. In early 2015, the City Council has approved the plans for a $21.5 million Metra station planned along Metra's Rock Island District line located at the SWC of 79th & Lowe.
