1003 West Armitage Avenue
$2,799,900
—
—
—
—
Description
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...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.
- Listed by Junzhou Cui • Citywide Real Estate
Property Details for 1003 West Armitage Avenue
Area
CHI - Lincoln Park
LISTING UPDATED: 09/08/2024 10:31 PM
Property Details for 1003 West Armitage Avenue
Status | Active |
---|---|
MLS # | 11925147 |
Days on Market | 391 |
Taxes | $30,363 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Mixed Use |
MLS Type | Commercial Sale |
Year Built | 1886 |
Lot Size | 0.06 AC / 2,403 SF |
County | Cook County |
Building Information for 1003 West Armitage Avenue
Stories3Residences5Year Built1886Lot Size0.06 AC / 2,403 SF
Property Information for 1003 West Armitage Avenue
Property History for 1003 West Armitage Avenue
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 1003 West Armitage Avenue
This home is within Chicago Public Schools.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Public - | PK to 8 | |||
Charter - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Mayer Elementary School PublicPK to 8 | ||
Lincoln Park High School Public9 to 12 | ||
Newberry Elementary Math & Science Academy PublicPK to 8 | ||
CICS - Quest North Campus Charter9 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.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.