Mixed-Use Retail & Apartment
3620 West 16th Street Chicago, IL 60623
For Sale
Contact for pricing
Pending
Renovated retail storefronts combined into four spaces plus four apartments create an eight-unit income property.
Days on Market105
Property Features for 3620 West 16th Street
General Information
- Standard status
- Pending
- Property subtype
- Retail
Listing Agency:
Century 21 S.G.R., Inc.
Listed By:
Hadeil Abdelfattah · License #IL 475137167
Source:
Crexi
Added: Apr 11
Changed: Jul 23
Last Checked: Jul 23 at 6:13PM
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 Century 21 S.G.R., Inc.
Investment Insights
Based on property information with market context.
This mixed-use property was recently renovated with $250,000+ in improvements. Originally configured as five storefronts, the commercial portion has been combined into four storefront spaces. The building also includes four apartments, for a total of eight units. Updates include new electrical circuit breakers, hardwired CO2 and fire alarms, new plumbing throughout, new beams and joists where needed, and new chimneys. Commercial spaces received a new heating unit, and the apartments have newer heating units. Each tenant has separate heat and hot water tanks, with individual thermostats and separate utilities.
The property is located at 3620 West 16th Street in Chicago, IL 60623. The current income is described as $8,000 per month, and the commercial tenants are reported to be operating with positive profits. Residential tenants include some with over 40 years of occupancy.
The property is located at 3620 West 16th Street in Chicago, IL 60623. The current income is described as $8,000 per month, and the commercial tenants are reported to be operating with positive profits. Residential tenants include some with over 40 years of occupancy.
Key Highlights
- Priced at a 16% cap rate with income reported at $8,000 per month.
- Recently completed $250K+ renovations, including combining originally 5 storefronts into 4 commercial spaces plus 4 apartments.
- Total 8 units: four retail/storefront spaces and four apartments.
Property Analytics
Location Intelligence
Current Use by Public Records
El Dulce Sabor
Restaurant
Great Lakes Fish ...
Restaurant
Short FELLA'S
Restaurant
Kesha's Place
Restaurant
Similar Off Market Nearby
- Dionicio Flower Shop — 2242 S Kedzie Ave, Chicago, IL 60623
FAQs
What type of property is this?
Storefront property - Renovated retail storefronts combined into four spaces plus four apartments create an eight-unit income property.
Where is this storefront property located?
The property is located at 3620 West 16th Street Chicago, IL.
What are key features of this property?
This property features: Priced at a 16% cap rate with income reported at $8,000 per month.; Recently completed $250K+ renovations, including combining originally 5 storefronts into 4 commercial spaces plus 4 apartments.; Total 8 units: four retail/storefront spaces and four apartments.
