63 43Rd StChicago, IL 60653

This exceptional mixed-use property at 63 E 43rd St, Chicago, IL 60653, offers a compelling investment opportunity. The 16,100 square foot building, constructed in 1909 and extensively renovated between 2020 and 2022, boasts a diverse tenant mix across nine units. Anchored by Alice's Bar B Q and X-Wings, the property also includes a barber salon, beauty salon, sweet shop, and event space. A 1,200 square foot, two-bedroom apartment occupies the southeast corner. Recent capital improvements include a new furnace, central air conditioning, updated bathrooms, plumbing, electrical systems, and tuckpointing. The property features a 100% occupancy rate, generating a current NOI of $61,326 and a pro-forma NOI of $80,523, representing a 6.16% cap rate and a pro-forma cap rate of 8.09%, respectively. The asking price is $995,000, with a price per square foot of $61.80 and a price per unit of $110,555.56. Located in a high-traffic business corridor, two blocks from the CTA 43rd Street Green Line and near new residential developments and the Chicago Urban League headquarters, this B-class, net-lease property presents significant upside potential. The property is zoned B3-3 and sits on a 16,100 square foot lot. Leases are currently for one year, with rent bumps planned to bring them to market rate. The net rentable square footage is 4,660 square feet. The building is two stories and consists of one building. All tenants are credit-rated.