• For Sale
  • USD 2,799,900 
  • Build Size: 5,009 ft2
  • Property Type: Commercial
Don't miss this extraordinary and rare investment opportunity with a 6.86% CAP RATE in the highly sought-after Lincoln Park neighborhood! This fully stabilized, recently gut-renovated mixed-use property offers a premier investment experience, featuring four residential apartments and one retail space. Strategically located on a desirable street, the property boasts a prime position directly across from the Chicago Transit Authority's (CTA) Brown Line L Train Stop at Armitage. With 100% occupancy and strong rental income, this investment presents the potential for rent increases while keeping operating expenses low. The commercial tenant covers 40% of CAM (including property tax and insurance), while residential tenants pay for utilities (gas and electricity). Significant recent upgrades, such as a new roof and AC condensers installed in 2022, contribute to the property's long-term value. Each residential unit features hardwood floors, in-unit laundry, quartz countertops, stainless steel appliances, and individual HVAC units, ensuring maximum comfort and appeal for tenants. Take advantage of this exceptional mixed-use property in the heart of Lincoln Park, offering stability, growth potential, and an impressive return on investment for discerning investors.
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1003 W Armitage Avenue, Chicago IL 60614, Chicago, Illinois, United States is a 5,009ft2 Chicago luxury Commercial listed for sale USD 2,799,900. This high end Chicago Commercial is comprised of N/A bedrooms and N/A baths. Find more luxury properties in Chicago or search for luxury properties for sale in Chicago.