3159 N California Avenue, Chicago, IL 60618

Listing agent JOYCE GALLO

Listing office @PROPERTIES CHRISTIE'S INTERNATIONAL REAL ESTATE j***@atproperties.com Show Phone

Listing date May 1, 2025

Source Corcoran

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Overview

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.

Suggested Use

Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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Location Insight

• Map
• Local Demand

City

Chicago

County

Cook

State

Illinois

Longitude

-87.6976

Latitude

41.9392

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FAQs

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.