2945 W Peterson Ave Chicago, IL 60659

Located in Chicago's West Ridge neighborhood, 2945 W Peterson Ave is a mixed-use property situated along the Peterson Avenue commercial corridor near the intersection of Peterson & Sacramento. The property offers a diversified income stream from residential apartments and street-front commercial/office suites. The 13-unit building has in-place cash flow and value-add potential through the lease-up of vacant commercial spaces. Strategic leasing, light build-outs, and optimizing rental rates can enhance the bottom line. The property is located in a vibrant North Side submarket, benefiting from a dense, established community, nearby retail offerings, and traffic along Peterson Avenue. The area's residential demand and the presence of both national and local retailers support tenant interest and income growth. The property offers an attractive in-place cap rate at acquisition, with a trajectory toward a higher stabilized return. It is ideal for investors seeking a predictable yield with room for expansion, offering a mix of commercial and residential spaces, a stable tenant base, and a strategic infill location. The property is an option for repositioning or extended ownership, and is an enticing prospect for value-add enthusiasts, 1031 exchange buyers, and owner-users seeking a blend of commercial space and residential income. The property size is 10,044 square feet.