3411 North Ave Chicago, IL 60647

Property Details for 3411 North Ave

Year built

1917

Property size

14,750 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This exceptional Class A mixed-use building, located at 3411 West North Avenue in Chicago's vibrant Humboldt Park neighborhood, presents a compelling investment opportunity. The property, extensively renovated in 2018, boasts a total of 14,750 square feet across two buildings, encompassing six rental units and two retail spaces. The six units comprise four apartments (two 3-bedroom, 2-bathroom units of approximately 1900 square feet each, and two 1-bedroom, 1-bathroom units of approximately 1600 square feet each), a 3600-square-foot theater space, and a 1600-square-foot retail space currently occupied by The Puerto Rican Cultural Center. The property also includes a 7-8 car gated parking area. Apartments feature modern amenities including updated kitchens with dishwashers, in-unit laundry, separate HVAC and water heaters, high ceilings (10+ feet), and engineered flooring. The building benefits from a complete overhaul in 2018, including new mechanical systems (plumbing, electrical, roof, sewers), waterproofing, and tuckpointing. Built in 1917, the property sits on a 8,655 square foot lot (72' frontage on North Ave) and is zoned B3-2. The property is currently 100% occupied, generating a Net Operating Income (NOI) of $119,906 and a cap rate of 6.66%. The asking price is $1,800,000, representing a price per square foot of $122.03. The property's strong tenant base, high occupancy rate, and prime location in a rapidly gentrifying area make it an attractive investment with significant potential for appreciation. Property PIN: 16-02-201-045-0000. 2023 Taxes: $33,845.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.7125

Latitude

41.91