3362 North NARRAGANSETT AvenueChicago, IL 60634Price: $659,000

  • Price: $659,000
  • 29 Days on Market
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Federal 30-year interest rate: 6.58% last updated on Nov 23, 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.
  • 5,895Square Feet
  • 1951Year Built

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Great opportunity to grab this rarely available well kept mixed use building in Dunning at $111/sqft. The deal includes a full and operating bar called B G's Lounge and includes a 2 a.m. license, fixtures, LLC and assumable leases for lotto, arcades and jukebox. They have a space already dedicated to adding slot machines but will leave it up to the next owner. The building is a true mixed use with three leased apartment units ((2) 2 bedroom, 1 bath & (1) 1 bedroom, 1 bath) with separate meters for electricity and the landlord paying heat and water. The roof was changed around 2010, windows are vinyl, and the tuckpointing redone. The building is over 5,800 sq/ft plus a lower level party room that is being used for storage, a sub basement that is used for utilities and a backyard that is great for tenants or expanding outdoor seating for the bar. The property taxes are low and will stay low due to the mixed use classification. The new owner could operate the bar, rent it out or change it into a restaurant or another business. Plenty of angle parking along the building on Roscoe for customers and tenants with the option to add a garage in the back. Contact us for more information and showings are limited to pre qualified buyers with proof of funds. The bar is considered an asset sale and no accounting information will not be provided, Cap rate of 4.6% does not include the bar which can be rented for $2,000/month+ or owner operated.

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Listed by Gregorio Cirone and Adam Ramahi of Interdome Realty

Based on information submitted to MRED  as of November 29, 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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