3357 Chicago Ave Chicago, IL 60651

Property Details for 3357 Chicago Ave

Year built

1910

Property size

7,620 SF

Property type

Commercial real estate

APN

16112040020000

Description

This exceptional mixed-use property, located at 3357 W. Chicago Ave. in Chicago, IL, presents a compelling redevelopment opportunity. The 7,620 square foot building sits on a 5,880 square foot lot and boasts a prime location at the corner of Chicago Avenue and Homan Avenue, zoned C1-1. The property comprises two buildings, each two stories, constructed in 1910. Currently vacant, the 10-unit building includes two street-level storefronts, previously occupied by a liquor store and a restaurant, generating approximately $2,000 per month each. The upper floors feature eight residential units: six studios, one one-bedroom/one-bathroom apartment, and one three-bedroom/one-bathroom apartment. A 750-square-foot brick garage, previously rented to an auto body shop for $1,000 per month, is also included. Recent upgrades include a five-year-old roof and electrical service upgraded in 2014. The property features 11 separate electric meters and three gas meters. The asking price is $399,000, or $52.36 per square foot. Cash buyers only. The property is sold "as is," requiring work and presenting a significant value-add opportunity for the right investor. This is a rare chance to acquire a substantial mixed-use property in a vibrant Chicago neighborhood.