3307 Irving Park RdChicago, IL 60618

Property Details for 3307 Irving Park Rd

Year built

1917

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.07 AC

Property size (Sq ft)

2,854 SF

Property type

Residential income properties

Property subtype

Residential income homes

APN

13-23-205-007

APU

1323205007

Description

This exceptional mixed-use property, located at 3307 W Irving Park Rd in Chicago, IL, presents a compelling investment opportunity. The 2,600 square foot building, constructed in 1917 and renovated five years ago, sits on a generous 3,125 square foot lot and is zoned B-2. The two-unit structure offers a blend of residential and commercial space, ideal for generating rental income and operating a business. The upper floor provides versatile living space, while the ground floor presents excellent business potential. Features include central AC, casement windows, a well-appointed basement for storage, and a kitchen with a pantry. A washer and dryer add to the convenience. The property's location in the heart of Chicago, combined with its size and zoning, offers significant potential for future development or expansion. The asking price is $697,000, translating to $268.08 per square foot. This is a rare chance to acquire a well-maintained, income-producing property in a thriving Chicago neighborhood. The Cook County APN is 13232050070000. This two-story building presents a unique opportunity for both residential and commercial use, making it an attractive investment for discerning buyers. The property's combination of income potential and prime location makes it a truly exceptional offering.

• CAP approach

  CAP return

  Valuation

  6%

  $1,065,285

  6.5%

  $983,340

  7%

  $913,102

• Comparable approach

  Method

  Valuation

  Relative Method

  $576,187

  Geo Method

  $576,187

• Alternative Use

  Use

  Valuation

  Residential

  $983,340

  Hospitality

  $900,734

  Educational

  $749,401

  Medical

  $775,174

  Retail

  $1,165,734

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9536

Longitude

-87.7108

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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