100-116 East 51st Street

Chicago, IL 60615

$1,350,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Bronzeville! Potential & vision! Approximately 17,500 SF two story building (+ partial basement) on a 19,200 sq ft site with a 17 car parking lot! The ground floor is leased to long term tenants and the second floor ready for your ideas. Previously 2nd flr housed 17 apts. Remarkable possibilities! Ground floor fully leased to long term tenants for instant cash flow. The 9,180 SF second floor is wide open, with soaring ceiling heights to 14 feet. Additional possibilities to add square footage include...Bronzeville! Potential & vision! Approximately 17,500 SF two story building (+ partial basement) on a 19,200 sq ft site with a 17 car parking lot! The ground floor is leased to long term tenants and the second floor ready for your ideas. Previously 2nd flr housed 17 apts. Remarkable possibilities! Ground floor fully leased to long term tenants for instant cash flow. The 9,180 SF second floor is wide open, with soaring ceiling heights to 14 feet. Additional possibilities to add square footage include adding 3rd floor loft space in a portion of the second floor and building out an existing very cool all masonry roof penthouse. Architectural plans available to construct a lobby, stair and elevator on Michigan Avenue with direct access to the concrete 17 car fenced, landscaped & irrigated parking lot. The possible uses are endless and include but are not limited to apartments, dramatic office space, medical, gym, basketball, pickleball, dance studio, restaurant, theater, doggie daycare, gallery and many other possibilities. Transit Oriented Development site, potential TIF, Invest South/West and more. Super close to the Green Line & Red Line trains and 90/94.

Property Details for 100-116 East 51st Street

Area
CHI - Grand Boulevard
Township
Hyde Park
Zoning
COMMR
LISTING UPDATED: 09/19/2024 12:06 AM

Property Details for 100-116 East 51st Street

StatusActive
MLS #12162362
Days on Market170
Taxes$48,807 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1940
Lot Size0.44 AC / 19,200 SF
CountyCook County

Building Information for 100-116 East 51st Street

Stories2Residences7Year Built1940Lot Size0.44 AC / 19,200 SF

Property Information for 100-116 East 51st Street

General Information
Location and General Information
  • Frontage Type: City Street
  • Geographic Locale: Chicago South
  • Information: 48-Hr Notice Required
Taxes and HOA Information
  • Estimated Tax/Sf: 1
  • Additional Parcels: Yes
Property Information
Interior Features
  • Air Conditioning: Central Air
  • Electric: Circuit Breakers
  • Heat/Ventilation: Forced Air,Gas
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 0
Property/Lot Information
  • Tenant Pays: Common Area Maintenance, Electricity, Heat, Taxes, Insurance, Scavenger, Sewer
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 160X120
  • Lot Size Square Feet: 19200.0
  • Stories: 2
  • Exterior Building Type: Brick, EIFS (e.g. Dryvit)
  • Roof Type: Rubber
  • Fire Protection: None
  • Roof Structure: Flat
  • # Of Offices: 0
  • # Of Stores: 5
  • Property Sub Type: Apts/Stores
  • MRD_UNC: No
Property and Assessments
  • Possible Use: Commercial, Condominium, Retail
  • Documents Available: Rent Roll,Leases,Floor Plan,Existing Survey,Tax Bill
  • Public Document Count: 0
  • Photos Count: 11
  • Estimated Cam/Sf: 1
Miscellaneous
  • Current Use: Commercial
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 7
Income & Expenses
  • Electric Expense: $190.00
  • Fuel Expense: $.00
  • Gross Income: $158,292.00
  • Gross Scheduled Income: $158,292.00
  • Insurance Expense: $10,611.00
  • Electric Expense Source: Actual
  • Expense Year: 2023
  • Total Annual Expense Source: Actual
  • Insurance Expense Source: Actual
  • Other Expense Source: Actual
  • Trash Expense Source: Actual
  • Total Monthly Income: 13191
  • Water Expense Source: Combination
  • Net Operating Income: $96,739.00
  • Operating Expense: $61,553.00
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $1,945.00

Property History for 100-116 East 51st Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 100-116 East 51st Street

This home is within Chicago Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - 9 to 12
Public - PK to 8
Rating
School
Distance
Beethoven Elementary School
PublicPK to 8

Phillips Academy High School
Public9 to 12

Bronzeville Scholastic High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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100-116 East 51st Street is a mixed use property for sale in Chicago, IL 60615. This property was listed for sale on September 12, 2024 by Great Lakes Realty Central Inc, it's currently listed at $1,350,000. This listing's school district is Chicago Public Schools. Nearby schools include Beethoven Elementary School, Phillips Academy High School and Bronzeville Scholastic High School. 100-116 East 51st Street is a 0-bed, 0-bath, mixed use property built in 1940.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Great Lakes Realty Central Inc

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 09/19/2024 12:06 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.