1003 W Armitage Avenue, Chicago IL, 60614

Active

1003 W Armitage Avenue

Chicago IL, 60614

$2,799,900

$558.97 per sqft

Active

5,009 sqft

Commercial

Built in 1886

Courtesy of Citywide Real Estate

Don't miss this extraordinary and rare investment opportunity with a 6.86% CAP RATE in the highly sought-after Lincoln Park neighborhood! This fully stabilized, recently gut-renovated mixed-use property offers a premier investment experience, featuring four residential apartments and one retail space. Strategically located on a desirable street, the property boasts a prime position directly across from the Chicago Transit Authority's (CTA) Brown Line L Train Stop at Armitage. With 100% occupancy and strong rental income, this investment presents the potential for rent increases while keeping operating expenses low. The commercial tenant covers 40% of CAM (including property tax and insurance), while residential tenants pay for utilities (gas and electricity). Significant recent upgrades, such as a new roof and AC condensers installed in 2022, contribute to the property's long-term value. Each residential unit features hardwood floors, in-unit laundry, quartz countertops, stainless steel appliances, and individual HVAC units, ensuring maximum comfort and appeal for tenants. Take advantage of this exceptional mixed-use property in the heart of Lincoln Park, offering stability, growth potential, and an impressive return on investment for discerning investors.

11925147

MLSⓇ ID

November 6, 2023

Listed

March 28, 2024

Updated

Map

1003 W Armitage Avenue
Chicago IL, 60614

Interior Features

Total Stories: 3
Fireplace: No
Cooling: Yes
Cooling Description: Central Air
Heating: No

Exterior/Building Features

Lot Size: 0.06 Acres

Other Property Details

Area Name: CHI - Lincoln Park
Taxes: $30,363
Tax Frequency: Annually
Days on Market: 7
Garage: No
Parking Total: 3
View: No
County: Cook
Pool: No

Courtesy of Citywide Real Estate, Junzhou Cui,
Listing Contact: 312-808-8899

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity^SM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than The Hancock Group are marked with the Broker Reciprocity^SM logo or the Broker Reciprocity^SM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

Based on information submitted to the MLS GRID for MRED 3/28/2024. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

Data last updated 4:36 AM UTC, 3/28/2024