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3816 W Montrose Ave Chicago, IL 60618

For Sale
$895,000

Three-unit property with storefront, apartments, and coach house.

Property Features for 3816 W Montrose Ave

General Information

Standard status
Active

Building Details

Year built
1913

Source: CEDAR REALTY Agent LORA VASILEVA

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Mixed-Use Property: Live/Work Opportunity

This three-unit property presents an investment opportunity or suits an owner looking for a live/work arrangement. The roof was replaced two years ago, and the two-bedroom unit and coach house feature updated electrical systems. The 1600-square-foot storefront is currently leased to a catering/restaurant business on a month-to-month basis, offering flexibility to the new owner. The second floor contains a renovated two-bedroom, one-bathroom apartment with an enclosed porch and outdoor patio, which is currently rented out. This apartment includes in-unit laundry, a custom kitchen with stainless steel appliances and granite countertops, hardwood floors, a private entry, and central air and heat. The coach house in the back has been fully renovated and offers a three-floor living space with four bedrooms and two bathrooms, functioning like a single-family home. It features a new kitchen and two new bathrooms, along with in-unit laundry. The estimated market rent for the coach house is $3600, which is factored into the Gross Rental Income calculation. Public transportation is located nearby.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Chef Rafael & Son's ... Continental Restaurant Los Nuevos Chefs ... Mexican Restaurant

Suggested Use

Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Chicago
County
Cook
State
Illinois
Longitude
-87.7237023
Latitude
41.9612601

FAQs

What type of property is this?
Mixed-use property - Three-unit property with storefront, apartments, and coach house.
Where is this mixed-use property located?
The property is located at 3816 W Montrose Ave Chicago, IL.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: - Excellent investment opportunity or ideal for a live/work setup with a 1600 sq ft storefront currently operating as a catering/restaurant business.; - Fully renovated 4-bedroom/2-bath coach house with in-unit laundry, feels like a single-family home, and has an estimated market rent of $3600.; - Recently renovated 2-bedroom apartment boasts in-unit laundry, custom kitchen with stainless steel appliances and granite countertops, hardwood floors, private entry, central air/heat, enclosed porch, and outdoor patio.
More about this property
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