1538 N Western Avenue, Chicago, IL 60622
Highlights:
– Excellent investment opportunity in high visibility location on Western just south of North Avenue, with average traffic of 29,100 vehicles per day
– Three-story brick building built in 1911
– New HVAC, plumbing, electrical, windows, kitchens and bathrooms completed in 2012
– First floor is an owner occupied commercial storefront (seller will either negotiate for a leaseback from new owner for $1,500/month for up to 1 year or vacate upon sale, depending on buyer’s preference)
– Second floor includes 2-bedroom / 1-bathroom rental unit ($1,590 monthly rent / lease expiring April 2017)
– Third floor includes 2-bedroom / 1-bathroom rental unit ($1,720 monthly rent / lease expiring July 2017)
– Exterior signage/advertisement on side of building currently in third year of five-year lease ($225 monthly rent for years 1-3 / 30% of sign revenue for years 4-5 / can be canceled by landlord upon sale of building if desired)
– Two-car garage in rear of property currently owner-occupied (additional rental income potential exists if garage were to be rented to apartment tenants)
– Great West Bucktown location just 2.5 blocks from The 606 / Bloomingdale Trail and steps away from North Avenue dining and nightlife options
– ADJACENT AUTO SHOP on DOUBLE LAND LOT ALSO AVAILABLE FOR SALE
