5620 N Western Ave Chicago, IL 60659
Fully occupied three-lot property with redevelopment potential in Arcadia Terrace.
Type:Land, Mixed Use
Property size:
8,000 SFLot size:
0.19 Acres- Added:
- Feb 12, 2024
- Days on Market:
- 798
- Last Refresh:
- Mar 17 at 1:25 pm
Property Features for 5620 N Western Ave
General Information
- Standard status
- Active
- Size
- 8,000 SF
- Lot size
- 0.19 Acres
- Property subtype
- Land, Mixed Use
Building Details
- Year Built
- 1934
Listing agent Alberto Gonzalez License #475.155143
Listing office EXIT Strategy Realty
Listing date Feb 12, 2024
Source Crexi
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 EXIT Strategy Realty
Overview
Three-Lot Mixed-Use Property
This fully occupied three-lot property is located just north of Bryn Mawr in the Arcadia Terrace neighborhood of Chicago. The property benefits from a high traffic count and C1-2 zoning, making it suitable for a variety of businesses and ideal for redevelopment. The property consists of three lots: a gated parking lot, a three-story mixed-use building, and a free-standing one-story flexi-core commercial garage. The mixed-use building features a store with a front area of approximately 33x18 and an ADA-compliant bathroom, plus three private offices. The upper floors each contain a 1250 square foot apartment with two bedrooms, a living room (17x12), a dining room (15x10) and a kitchen (12x10). Each unit has separate new HVAC, hardwood floors, and new steel back decks. The building has a newer roof (5 years old), rebuilt parapets, and tuckpointing. The commercial garage offers 2750 square feet of space and has the potential for additional levels. The property includes an enclosed, gated parking lot. The total building square footage is approximately 8000 square feet, situated on three 2755 square foot lots, totaling 8265 square feet with 75 feet of frontage and 110 feet of depth. The property is near the Devon corridor, Lincoln Square, Ravenswood, and Edgewater, with easy access to public transportation and Lake Shore Drive.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Somali Community in Chicago
Community Center
Alderman Andre Vasquez
City Government Office
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6898361
- Latitude
- 41.9838457
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Fully occupied three-lot property with redevelopment potential in Arcadia Terrace.
Where is this mixed-use property located?
The property is located at 5620 N Western Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: 7.88% Cap Rate investment opportunity with fully occupied three‑lot property.; Three lots totaling 8265 SF with 75' frontage, zoned C1‑2 for various businesses and redevelopment potential.; **5620 N Western Ave is a fully rehabbed three‑story mixed‑use building featuring a store and two 2‑bedroom apartments, all with new HVAC and separate utilities.**
