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Listed by Angelo Labriolaof Sperry Van Ness
$ 575,000
Est. payment | /mo
5,047 SqFt
$ 575,000
Est. payment | /mo
5,047 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 5,047 sqft
Price per Sqft $113
MLS Listing ID 12455519
Year Built 1891
Annual Tax Amount $9,494
Tax Year 2023
Lot Dimensions 25X137
Property Sub-Type Mixed Use
Property Description
This large corner brick three-unit mixed-use building sits prominently at the lighted intersection of Ashland Avenue and 21st Street, offering a prime retail space that has remained consistently leased thanks to its unbeatable visibility and high-traffic location. The property includes a full basement and exterior signage with excellent exposure at the stoplight, presenting the potential for additional advertising income. Longtime ownership and first-time availability since the early 1960s make this a rare opportunity to acquire a well-positioned asset in an established neighborhood. The two residential apartments above the retail storefront offer spacious layouts filled with natural light and feature large floor plans, providing immediate rental income with the option to further maximize returns through updates and modern finishes. Residents can enjoy a generous outdoor deck ideal for entertaining, along with the convenience of a two-car garage in the rear for extra income potential. With strong fundamentals, untapped upside, and a proven rental history, this property is an excellent investment for both owner-occupiers and value-add investors alike.
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling None
Fireplace N
Exterior
Utilities Available Electricity Available, Natural Gas Available, Sewer Connected, Water Available
View Y/N true
Building
Water Municipal Water
Structure Type Brick
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2600 S. Michigan Ave., STE 102, Chicago, IL, 60616, United States