Prime Corner Mixed-Use
For Sale
$4,950,000
3159 N California Avenue, Chicago, IL 60618
Mixed-use property with long-term tenants and value-add potential.
Property SizeContact for details
Days on Market504
Property Features for 3159 N California Avenue
General Information
Standard status
Active
Taxes and HOA fees
Annual Taxes
$84,550
Listing Agency:
@PROPERTIES CHRISTIE'S INTERNATIONAL REAL ESTATE
Listed By:
JOYCE GALLO
(847) 404-2500
Source:
Corcoran
Added: May 1, 2025
Changed: Mar 16
Last Checked: Sep 15 at 6:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of @PROPERTIES CHRISTIE'S INTERNATIONAL REAL ESTATE
Investment Insights
Based on property information with market context.
This mixed-use property is located at the intersection of Belmont, California, and Elston Avenues. The corner building encompasses 18,812 square feet with 159 linear feet on Belmont Avenue. Additionally, 3173 Elston Avenue includes a 4,500 square foot lot with a 4,200 square foot one-story brick building under a triple net lease. The property features seven stores and nine apartments, plus income from a rooftop sign. Each apartment has its own roof deck, and there is also a common roof deck for all tenants. A shared parking lot with 19 spaces adjoins the properties. Each apartment and store has individual forced air conditioning and heating units. The properties are meticulously cleaned and well-kept. The sale is subject to a 1031 Exchange. The properties will be sold as is, where is, and will not be divided. The current tenants are long-term, and there is potential to increase rental income to current market rates, particularly for the apartments, which have rents below market value.
Key Highlights
- Prime corner location on three major avenues (Belmont, California, and Elston) with high traffic volume.
- Significant potential to increase rental income by raising rents to current market rates.
- Substantial land square footage, including an 18,812 sq ft corner building with 159 linear feet on Belmont Avenue.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,014
Businesses Nearby
Explore this area
Business Placement
Demographics for 60618, IL
90,316
Population
41,053
Households
2.2
Avg Household Size
35
Median Age
55%
College-Educated
89%
High-School Grad
5.0 sq mi
ZIP Area
18,063
Density / Sq Mi
$101,558
Median Household Income
$60,263
Median Earnings
$1,534
Median Rent
$538,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with long-term tenants and value-add potential.
Where is this mixed-use property located?
The property is located at 3159 N California Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Prime corner location on three major avenues (Belmont, California, and Elston) with high traffic volume.; Significant potential to increase rental income by raising rents to current market rates.; Substantial land square footage, including an 18,812 sq ft corner building with 159 linear feet on Belmont Avenue.
