6056 North AveChicago, IL 60639

For Sale
$625,000

Chicago Multifamily & Retail Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional mixed-use property at 6056 W North Ave, Chicago, IL 60639, presents a compelling investment opportunity. The two-story, 1922-built building boasts a prime corner lot spanning 3,500 square feet. It features five fully occupied units, generating a strong net operating income (NOI) of $72,744. The upper floor comprises two residential apartments: a three-bedroom, one-bathroom unit and a two-bedroom, two-bathroom unit. The ground floor houses three retail spaces, two currently leased, with one large corner unit recently vacated, offering immediate potential for increased revenue. Adding to the income stream is a long-term leased billboard. Recent improvements include a newer roof and some new windows. This stabilized investment, situated in a thriving Chicago neighborhood, offers a variety of possibilities for future development and tenant diversification. The property's location makes it ideal for a range of retail businesses, including corner stores, barber shops, or restaurants. The asking price is $625,000. This is a rare chance to acquire a well-maintained, income-producing asset in a high-growth area.

Highlights

  • Prime corner lot, 3,500 square feet, in Chicago, IL.
  • Two-story, 1922 building with five fully occupied units and a long-term billboard lease.
  • Strong NOI of $72,744.
  • Three retail spaces on the ground floor (two leased, one vacant).
  • Two residential apartments (3 bed/1 bath and 2 bed/2 bath) on the upper floor.
  • Recent improvements include a new roof and some new windows.

Property Details for 6056 North Ave

Property type
Other retail properties, Individual retail properties
Year Built
1922
Buildings
1
Stories
2
Units
5

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.909408
Longitude
-87.7774358
6056 North Ave, Chicago, Illinois

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6056 North Ave
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