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$2,249,500

Est. payment - /mo

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22,546 SqFt

Active

5636-48 W Division ST Chicago, IL 60651

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Park Place Realty Group LLC

info@parkplacerealtyllc.com +1(708) 722-5106

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Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 22,546 sqft

Price per Sqft $99

MLS Listing ID 12390171

Maintenance Fees $6,000

Year Built 1925

Annual Tax Amount $30,206

Tax Year 2023

Lot Dimensions 98X125

Property Sub-Type Multi Family 5+

Property Description

This 33-unit mixed-use property, a bank-owned asset in Chicago's thriving North Austin neighborhood, presents an attractive investment opportunity in a historic urban setting. Constructed in 1925, the elegant terracotta building features 7 commercial storefronts, 20 one-bedroom/one-bathroom apartments, and 6 two-bedroom/one-bathroom apartments, creating a diverse and stable revenue stream. The property's varied unit mix appeals to a wide range of tenants, from small businesses to residential renters. Significant value-add potential exists through targeted upgrades, including modernizing the commercial spaces (notably the vacant corner unit), enhancing on-site parking, and improving laundry facilities. With strategic renovations and efficient property management, investors can unlock substantial cash flow and long-term appreciation in Chicago's dynamic rental market. Located in a vibrant, historic community with strong demand, this property is ideal for those looking to capitalize on the city's growing real estate opportunities.

Location

State IL

County Cook

Area Chi - Austin

Zoning COMMR

Interior

Fireplace N

Building

Dwelling Type Multi Family 5+

Structure Type Brick

Listed by David Geary of Geary's Realty LLC

Nearby School & Business

SCHOOLSPROPERTIES

Elementary Schools 20

8

Horace Mann Elementary School

Public | KG - 5
8

William Hatch Elementary School

Public | PK - 5
7

Oliver W Holmes Elementary School

Public | PK - 5
7

Abraham Lincoln Elementary School

Public | KG - 5
7

Irving Elementary School

Public | KG - 5
7

Longfellow Elementary School

Public | PK - 5
7

Chicago Academy Elementary School

Public | PK - 8
7

Garcia Lorca Elementary School

Public | KG - 8
6

Jefferson Elementary School

Public | PK - 5
6

William Beye Elementary School

Public | KG - 5
6

Whittier Elementary School

Public | PK - 5
6

Lyon Elementary School

Public | KG - 8
6

Reinberg Elementary School

Public | PK - 8
6

Christopher House Charter Elementary School

Public | KG - 1
6

Frazier Perspectives Magnet Elementary School

Public | KG - 8
5

Field Stevenson Elementary School

Public | 3 - 5
5

Grant-White Elementary School

Public | 3 - 5
5

J. Locke Elementary School

Public | PK - 8
5

Prairie Oak School

Public | KG - 5
5

Karel Havlicek Elementary School

Public | KG - 5

Middle Schools 8

7

Lincoln Middle School

Public | 6 - 8
6

Percy Julian Middle School

Public | 6 - 8
5

Gwendolyn Brooks Middle School

Public | 6 - 8
5

Clark Academy Preparatory Magnet High School

Public | 7 - 12
4

Forest Park Middle School

Public | 6 - 8
4

Ames Middle School

Public | 7 - 8
2

Northwest Middle School

Public | 6 - 8
1

Kelvyn Park High School

Public | 7 - 12

High Schools 20

10

Oak Park & River Forest High School

Public | 9 - 12
6

Prosser Career Academy High School

Public | 9 - 12
5

Chicago Academy High School

Public | 9 - 12
4

Douglass Academy High School

Public | 9 - 12
4

Austin Business & Entrepreneurship High School

Public | 9 - 12
3

Schurz High School

Public | 9 - 12
2

Austin Polytechnical Academy High School

Public | 9 - 12
1

Steinmetz College Prep High School

Public | 9 - 12
1

Voise Academy High School

Public | 9 - 12
1

Foreman High School

Public | 9 - 12
1

North-Grand High School

Public | 9 - 12
1

Orr Academy High School

Public | 9 - 12
0

Alop Academic Learning Program

Public | 9 - 12
0

Fenwick High School

Private | 9 - 12
0

St Patrick High School

Private | 9 - 12
0

Austin Career Education Center

Private | 10 - 12
0

Banner Academy West

Private | 9 - 12
0

Christ the King Jesuit College Preparatory School

Private | 9 - 12
0

Banner West Academy High School

Public | 9 - 12
0

Antonia Pantoja High School

Private | 10 - 12

School and business data provided by Attom Data.

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Park Place Realty Group LLC

Broker | License ID: 888222

+1(708) 722-5106