3968 North Elston AvenueChicago, IL 60618Price: $495,000

  • Price: $495,000
  • 355 Days on Market
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Federal 30-year interest rate: 6.49% last updated on Dec 1, 2022
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 3,950Square Feet
  • 1921Year Built

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For sale, for the first time in 75 years, this four-unit mixed-use comprised of first floor Retail/Restaurant and (3) 2Bed/1Bath apartments in Chicago's Irving Park neighborhood. The retail space has been home to the "Guy Lon" Chinese restaurant, a neighborhood fixture, for nearly seven decades. The restaurant operations ceased during the pandemic; however, all licensing and fixtures remain intact, in the event a new operator would like to re-open. The restaurant and building ownership are the same, and the sale is in conjunction with the owner retirement. The building configuration is unique having frontage on both Elston and Monticello Avenues, with 3,950 SF of rentable area, and a full base- ment. All apartment tenants have month-to-month occupancy. The property is individually metered for electric and master-metered for water and gas with central boiler and hot water systems. The property is currently 75% occupied. The offering provides an investor or owner occupant the opportunity to add-value through renovation and lease renewal. The property is being offered on an "as-is, where-is," basis. In addition, the former restaurant business is also being offered for $30,000.

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Listed by Linda Hattar of ACO Commercial

Based on information submitted to MRED  as of December 3, 2022 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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