635-637 W 26Th St Chicago, IL 60616

This mixed-use property in the Bridgeport area of Chicago offers an investment opportunity with approximately 7,012 square feet of combined space, including 4,530 square feet of above-ground finished space and a 2,482-square-foot unfinished basement. The property features three residential units, consisting of two 3-bedroom apartments and one 2-bedroom apartment, along with a retail commercial storefront. All units are currently occupied. The residential apartments have been updated and include hard surface flooring, white trim and molding, high ceilings, updated kitchens with granite countertops, stainless steel appliances in two units, in-unit laundry rooms, ceiling fans, and individual central HVAC systems. The commercial space has a new front window and a recently replaced heating system. The current total monthly rental income is $6,991. Residential tenants are responsible for their own gas and electric, while the owner covers water, sewer, and common area lighting. Utilities are separately metered for gas and electric for each unit. The property is zoned B1-2 mixed-use, allowing for profitable commercial tenants or owner-operated businesses. The adjacent unit can be converted to commercial use. Rents are near current market rates, with potential for future increases, and the commercial lease includes an escalation clause upon renewal. Additional improvements include a newer roof, newer porch, four newer hot water tanks, cement flooring in the full walkout basement, and central heat and air conditioning in all residential units. The basement offers storage and potential expansion opportunities. There is a small fenced grassy area in the back. Situated on a corner lot on a low-traffic retail street surrounded by newer construction, the location provides convenient access to public transportation, shopping, dining, parks, and major thoroughfares. Palmisano Park is nearby, and the property offers quick access to downtown while maintaining a neighborhood setting. The first-floor units can be combined into a larger commercial space of approximately 2,158 square feet. The lot size is 0.07 acres.