SVN | Chicago Commercial is pleased to offer this classic mixed-use SRO building in Logan Square, located on the corner of California and Armitage in a rapidly-developing part of the neighborhood. The property is ideal for an affordable housing investor, but also has excellent potential for re-development into market rate apartments or an upscale hostel/shared housing concept. The building is currently configured for 28 single-occupancy rooms with common kitchens and baths on each of the four residential hallways, as well as gated parking for 4 cars. The property also boasts a very large corner retail space that is leased to a well-established liquor store.
Chicago's Logan Square neighborhood is attracting massive developer attention for plenty of good reasons -- the area is teeming with local and national retailers, entertainment, and dining options, and is situated on the CTA Blue Line, which provides for an easy commute to downtown and the Loop. This property is located in southeast Logan Square, on a stretch of Armitage that has seen a wide variety of new business activity and real estate development in recent months. A young average age makes this area a great fit for novel housing concepts. The Milwaukee Avenue retail and entertainment corridor and the the exciting new 606 Bloomingdale Trail are only a few blocks away.
