1421 West Chicago AvenueChicago, IL 60642Price: $1,799,000

  • Price: $1,799,000
  • 87 Days on Market
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Federal 30-year interest rate: 6.57% last updated on May 25, 2023
* 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.
  • 8,680Square Feet
  • 1896Year Built

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Great investor opportunity to own a High Income, fully leased, mixed-use property in red-hot West Town. Classic Chicago, brick 4-story, mixed-use building with brick 2-story Coach House. 7 apartments plus a Restaurant w/ basement. Currently operating at a 6% CAP. Rents are below market, easy 7% CAP. Annual income of $195,696 (Modified Gross) and NOI of $108,665. This building is in great condition and has been well-maintained over the years. Restaurant space is 1600 sq ft and has access to the semi-finished basement. The current lease goes until Dec. 2025 and is personally guaranteed. The apartments are always in demand and rent easily. Apartment mix is: three 2-bedroom/1.5 baths, three 2-bedroom/1 bath and the 3-bedroom/1 bath Coach House. Utilities are separated with GFA heat. Tenants pay gas/electric. 2 units have W/D. There is a shared, coin-operated laundry room on the 2nd floor. Rear units all have large steel porches. Rooftop access (Roof is only 5 years old). Located on a booming stretch of Chicago Ave in West Town close to everything - downtown, expressways, CTA Blue line, shops, dining, etc. This building is perfect for someone who wants to start collecting rent from day 1. Schedule today!

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Listed by Charles Goss of Luxury Living Chicago Realty

Based on information submitted to MRED  as of May 28, 2023 . 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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