2615 W North Ave
Chicago, IL 60647
Three Flat, Mixed Use Building in West Town · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Three Story, Mixed Use Greystone Building in West Town on North Ave, West of Rockwell St
- Both apartments offer high ceilings, separate living/dining rooms, lots of windows, hardwood flooring, large private decks and gas forced heat
- Perfect Investment property with a recently renewed five year commercial lease @ 7+ CAP
EXECUTIVE SUMMARY
Three Story, Mixed Use Greystone Building in West Town on North Ave, West of Rockwell St. Perfect Investment property with a recently renewed five year commercial lease. First level features dining area (36 seats), full kitchen (10ft hood) and ADA bathrooms
-Full basement with separate stair cases inside the retail space and rear of the building . Second and third floor features two residential apartments, 4BD/1BA and 3BD/1BA, respectively. Both apartments offer high ceilings, separate living/dining rooms, lots of windows, hardwood flooring, large private decks, gas forced heat, and central a/c in the 3rd floor unit. Utilities are separately metered, renters pay for gas and electric while commercial tenant covers 70% of water. Fantastic high traffic neighborhood, steps from Humboldt Park and 2 blocks from the Bloomington Trail. 0.7 Miles to the Western Blue Line stop, multiple bus stops and Divvy stations plus close access to the Expressway. Area tenants include: Cermak Produce, Café Pachuca, North & Western Dental Clinic, Illumination Art & Design, Game Stop, Anytime Fitness, Walgreens and much more!
Zoning – B3-2; Lot Size – 25 X 98; 2019 Taxes – $9,813; Alderman – Daniel La Spata / 1st Ward; Virtual Tour: https://real.vision/2615-west-north-avenue?o=u
-Full basement with separate stair cases inside the retail space and rear of the building . Second and third floor features two residential apartments, 4BD/1BA and 3BD/1BA, respectively. Both apartments offer high ceilings, separate living/dining rooms, lots of windows, hardwood flooring, large private decks, gas forced heat, and central a/c in the 3rd floor unit. Utilities are separately metered, renters pay for gas and electric while commercial tenant covers 70% of water. Fantastic high traffic neighborhood, steps from Humboldt Park and 2 blocks from the Bloomington Trail. 0.7 Miles to the Western Blue Line stop, multiple bus stops and Divvy stations plus close access to the Expressway. Area tenants include: Cermak Produce, Café Pachuca, North & Western Dental Clinic, Illumination Art & Design, Game Stop, Anytime Fitness, Walgreens and much more!
Zoning – B3-2; Lot Size – 25 X 98; 2019 Taxes – $9,813; Alderman – Daniel La Spata / 1st Ward; Virtual Tour: https://real.vision/2615-west-north-avenue?o=u
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
5,000 SF
Building Class
C
Year Built
1904
Price
$750,000
Price Per SF
$150
Cap Rate
7.06%
NOI
$52,917
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.91
Lot Size
0.06 AC
Zoning
B3-2
Frontage
25’ on W North Ave
PROPERTY TAXES
| Parcel Number | 16-01-203-004-0000 | Improvements Assessment | $66,880 |
| Land Assessment | $15,120 | Total Assessment | $82,000 |
