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3022-24-28 W Cermak Road

Chicago, IL 60623
  • $1,250,000
  • STATUS: Active
  • ON SITE: 76 Days
  • MLS #: 12213153
UPDATED: 81 min ago
$1,250,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1910
County:
Area:

School Ratings & Info

Description

Investment Summary The 2 Greystone buildings and dedicated parking lot are located in what many consider the best neighborhood in Chicago for investment right now. The near term appreciation is expected to be huge. The East Little Village/ West Pilsen neighborhood is the hottest up and coming in Chicago due to it's close proximity to Downtown Chicago along with the amenities of the public transportation, a diverse shopping district, along with the connection to the city's boulevard and park systems. Think "Logan Square South". Many buildings in the area are being rehabbed and several new construction projects have already begun. There is Pink Line EL train stop approximately 2 blocks from this location. Douglas Park, which is one block from the subject property, is a gem in the park system and hosts several music fests that have helped bring about positive economic change to areas on the north side of the city. Chicago has recently replaced much of the infrastructure in the neighborhood including water mains, sewer lines, sidewalks/ curbs, and added trees to the street city-scape in anticipation. Both residential and commercial rents are on the rise with tenants moving in from other parts of the city. This is expected to continue for the foreseeable future. Chicago, as a whole, also continues to experience people moving in from other parts of the country looking to become part of the rich and diverse employment opportunities the city has to offer. The subject property is fully stabilized and has been well maintained. The property features 3 adjoining properties. There are 2 grey stone mixed-use buildings and 1 vacant lot containing a 3 car garage. There 4 commercial tenants and 4 residential tenants occupancies. On the first floor is a 2 storefronts rented for artist use. The second and third floors contain 4-two bedroom apartments and 2-one bedroom apartments. Every unit on both floors are spacious, comfortable and easily rented. Each apartment has good sized bedrooms, which is a critical factor in renting in the city. All mechanicals have been updated. There are with full 6 HVAC systems and 2 units with just furnace systems. Every space is fully updated with newer kitchen and bath finishes. Residential tenants also enjoy shared outdoor space. There is a 7 outdoor, off-street parking parking spots and a 3-car garage for a total of 10 spots. There are 3 separate PIN's associated with this listing. This listing is part of a larger portfolio which consists of 4 buildings (8 Commercial / 16 Residential Units) and 6 vacant lots that are primarily located on the same block (2 double vacant lots are a block away). The seller group is doing principal management and are looking to retire. The other properties are available as active listings. Please contact the listing agent for more details.

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© 2025 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ani Real Estate. Based on information submitted to the MRED as of 2025-02-10T20:02:08.977 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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3022-24-28 W Cermak Road Chicago, IL 60623

  • Price: $1,250,000
  • Status: Active
  • On Site: 76 Days
  • Updated: 81 min ago
  • MLS #: 12213153
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1910
Built
Neighborhood:
Cook
County:
Cook
Area:
Cook
Property Description
Investment Summary The 2 Greystone buildings and dedicated parking lot are located in what many consider the best neighborhood in Chicago for investment right now. The near term appreciation is expected to be huge. The East Little Village/ West Pilsen neighborhood is the hottest up and coming in Chicago due to it's close proximity to Downtown Chicago along with the amenities of the public transportation, a diverse shopping district, along with the connection to the city's boulevard and park systems. Think "Logan Square South". Many buildings in the area are being rehabbed and several new construction projects have already begun. There is Pink Line EL train stop approximately 2 blocks from this location. Douglas Park, which is one block from the subject property, is a gem in the park system and hosts several music fests that have helped bring about positive economic change to areas on the north side of the city. Chicago has recently replaced much of the infrastructure in the neighborhood including water mains, sewer lines, sidewalks/ curbs, and added trees to the street city-scape in anticipation. Both residential and commercial rents are on the rise with tenants moving in from other parts of the city. This is expected to continue for the foreseeable future. Chicago, as a whole, also continues to experience people moving in from other parts of the country looking to become part of the rich and diverse employment opportunities the city has to offer. The subject property is fully stabilized and has been well maintained. The property features 3 adjoining properties. There are 2 grey stone mixed-use buildings and 1 vacant lot containing a 3 car garage. There 4 commercial tenants and 4 residential tenants occupancies. On the first floor is a 2 storefronts rented for artist use. The second and third floors contain 4-two bedroom apartments and 2-one bedroom apartments. Every unit on both floors are spacious, comfortable and easily rented. Each apartment has good sized bedrooms, which is a critical factor in renting in the city. All mechanicals have been updated. There are with full 6 HVAC systems and 2 units with just furnace systems. Every space is fully updated with newer kitchen and bath finishes. Residential tenants also enjoy shared outdoor space. There is a 7 outdoor, off-street parking parking spots and a 3-car garage for a total of 10 spots. There are 3 separate PIN's associated with this listing. This listing is part of a larger portfolio which consists of 4 buildings (8 Commercial / 16 Residential Units) and 6 vacant lots that are primarily located on the same block (2 double vacant lots are a block away). The seller group is doing principal management and are looking to retire. The other properties are available as active listings. Please contact the listing agent for more details.
Exterior Features

Exterior Building Type BrickStone Foundation Details Concrete Perimeter Outdoor Parking 6-12 Spaces Roof Membrane

Interior Features

Cooling Central AirCentral Individual Flooring Wood Heat Ventilation Central Heat/Indiv Controls Miscellaneous Inside Multi-Tenant Number Of Dishwashers 6 Number Of Dryers 2 Number Of Ranges 6 Number Of Washers 2

Property Features

Additional Parcels YN Yes Approximate Age 7-15 Years Building Area Total 10300 Built Before1978 YN Yes Electric Service - 201 to 600 Amps Fire Protection Carbon Monoxide Detector(s) Geographic Locale East/West Corridor Gross Income 134760 Gross Scheduled Income 134750 Insurance Expense 4500 Mls Actual Status Active Net Operating Income 95519 Number Of Tenants 7 Operating Expense 39241 Ownership Types Corporation Property Sub Type Apts/Ofc/StoreApts/Ofc Rental Price 10 Tax Annual Amount 10480 Tax Year 2023 Tenant Pays Air ConditioningElectricityHeat Total Monthly Income 11230 Township West Chicago Type Mixed Use

Listing information © 2025 Midwest Real Estate Data LLC.
Listing provided courtesy of Mason Realty: 312-576-8191.


© 2025 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ani Real Estate. Based on information submitted to the MRED as of 2025-02-10T20:02:08.977 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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7300 S Cottage Grove Ave Suite B
Chicago IL, 60619-1910