6056 North Ave Chicago, IL 60639
- Retail properties
Current Use by Public Records
- Unique Caress Spa & Beauty / Spa
- Pretty Saditty Salon / Beauty Salon
Property Details for 6056 North Ave
- Year built
- 1922
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
This exceptional mixed-use property at 6056 W North Ave, Chicago, IL 60639, presents a compelling investment opportunity. The two-story, 1922-built building boasts a prime corner lot spanning 3,500 square feet. It features five fully occupied units, generating a strong net operating income (NOI) of $72,744. The upper floor comprises two residential apartments: a three-bedroom, one-bathroom unit and a two-bedroom, two-bathroom unit. The ground floor houses three retail spaces, two currently leased, with one large corner unit recently vacated, offering immediate potential for increased revenue. Adding to the income stream is a long-term leased billboard. Recent improvements include a newer roof and some new windows. This stabilized investment, situated in a thriving Chicago neighborhood, offers a variety of possibilities for future development and tenant diversification. The property's location makes it ideal for a range of retail businesses, including corner stores, barber shops, or restaurants. The asking price is $625,000. This is a rare chance to acquire a well-maintained, income-producing asset in a high-growth area.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.7774
- Latitude
- 41.9094
