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$2,990,000
Est. payment /mo
UPDATED:
10/28/2024 05:25 AM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12193287
Year Built 1899
Annual Tax Amount $39,190
Tax Year 2023
Lot Dimensions 50X110
Property Description
1022 West Belmont Avenue, located in the heart of Chicago's popular Lakeview neighborhood, one block from the Belmont CTA station. The property consists of four oversized 1,600 SF 4 bedroom/2 bathroom apartments, and two occupied ground level retail spaces which total 2,625 SF. The building underwent an extensive renovation in 2013 including a new electric service, wiring and in-unit 100 AMP panels, new copper plumbing risers, individual HVAC, in-unit laundry and new kitchens & bathrooms. The spacious 1,600 SF apartments include large living rooms and generously sized bedrooms. The units all feature hardwood floors, decorative fireplaces, stainless steel appliances, granite counters, tiled bathrooms, individual HVAC, laundry in-unit and rear decks. Each unit receives a substantial amount of light due to the building's location on the northeast corner of Belmont & Kenmore Avenues. Light cosmetic updates to each apartment would allow rents to be raised to market level. The two retail spaces are currently leased to Ancient Grounds Coffee Co. and Crystal Cleaners, both benefiting from the high foot traffic along Belmont Avenue. Ancient Grounds opened in 2022 serving great food & coffee and has been a successful addition to the neighborhood. Crystal Cleaners has occupied the corner space for decades and currently holds a lease until 2027 at 26 PSF. Nearby retail spaces have recently been leased for up to 45 PSF (NNN). The property in prime Lakeview is in close proximity to the Belmont & Wellington "L" stations with quick access to the CTA Red, Brown & Purple Lines, along with several bus stops, offering tenants countless transportation options. The Chicago Cubs' Wrigley Field is just four blocks away affording tenants quick access to games and Wrigleyville nightlife.
Location
State IL
County Cook
Area Chi - Lake View
Interior
Cooling Central Individual
Fireplace N
Building
Dwelling Type Mixed Use
Level or Stories 3
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Ryan Blake • Essex 312, LLC
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