1059 West Wrightwood Avenue

Chicago, IL 60614

$1,595,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Mixed use building situated on a corner/oversized lot in Lincoln Park, measuring 30x125 and zoned RT-4. The property comprises three units: two apartments and one commercial tenant, with no vacancy in over 30 years. The commercial lease (Tapster), operates under a modified lease, with the tenant responsible for real estate tax and insurance costs proportional for increases over the 2018 base year rates. Additionally, the commercial tenant is accountable for all mechanicals in their space and snow...Mixed use building situated on a corner/oversized lot in Lincoln Park, measuring 30x125 and zoned RT-4. The property comprises three units: two apartments and one commercial tenant, with no vacancy in over 30 years. The commercial lease (Tapster), operates under a modified lease, with the tenant responsible for real estate tax and insurance costs proportional for increases over the 2018 base year rates. Additionally, the commercial tenant is accountable for all mechanicals in their space and snow removal for the building. Apartment 2F, a 3-bed 2-bath duplex with a true primary suite, is leased until April 2025 for 2700/month. Apartment 2R, a condo-quality 2-bed 2-bath duplex with a rain shower and fireplace, is rented for 2700/month until September 1, 2025. Both units offer considerable potential for increased rental income. The property enjoys proximity to Jonquil Park and DePaul University. Tapster, the commercial tenant, pays 5,402 per month plus any water bill costs exceeding 200 (billed every 2 months), with the lease expiring in June 2027 and an option to renew for an additional 5 years thereafter. The lease renews annually every July with a 2.5 increase per annum. Tapster also contributes additional rent proportional to insurance and tax increases as stated above. The property's expenses include 2022 taxes amounting to 21,597, insurance costs of 11,412 (potentially lower if shopped), and an annual water expense of 1200. The property currently operates with a Tavern license. The license is permanently affixed to the property, meaning the current tenant will need to either transfer it to a new tenant (subject to landlord approval) or to the building owner upon vacancy. Tenants cover all heat and gas expenses, while Tapster manages snow removal and landscaping. The furnaces in both units are new, with the 2R unit's furnace being just 2 months old and the 2F unit's furnace being 2 years old. Additionally, all three AC condensers are from 2017 or newer. With recent developments such as Avli Taverna and Love Street joining the block, and Lincoln Commons nearby, the location is hard to beat.
  1. Listed by Michael Wade • Jameson Sotheby's Intl Realty
  2. Listed by Dominic Garcia • Jameson Sotheby's Intl Realty

Property Details for 1059 West Wrightwood Avenue

Area
CHI - Lincoln Park
Num of Interior Fireplaces
1
Zoning
COMMR
LISTING UPDATED: 11/18/2024 10:27 AM

Property Details for 1059 West Wrightwood Avenue

StatusNew
MLS #12211324
Days on Market3
Taxes$21,597 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built-
Lot Size0.08 AC / 3,472 SF
CountyCook County

Building

Building Information for 1059 West Wrightwood Avenue

Stories1Residences-Year Built-Lot Size0.08 AC / 3,472 SF

Property Information for 1059 West Wrightwood Avenue

General Information
Location and General Information
  • Geographic Locale: Chicago North
  • Information: None
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Air
  • Electric: Circuit Breakers, Over 600 Amps, Power - 120V
  • # Of Washers: 2
  • Heat/Ventilation: Central Heat/Indiv Controls,Forced Air,Gas
  • # Of Refrigerators: 2
  • # Of Dryers: 2
  • # Of Disposals: 2
  • # Of Dishwashers: 2
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 2
Property/Lot Information
  • Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat, Taxes, Repairs, Sewer, Varies by Tenant
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 30X125
  • Lot Size Square Feet: 3472.0
  • Stories: 2
  • Fire Protection: Alarm On Site,Fire Extinguisher/s,Hydrants On Site
  • Building Area Total: 4235
  • # Of Offices: 0
  • # Of Stores: 1
  • Property Sub Type: Apts/Stores
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 46
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 3
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $128,424.00
  • Gross Scheduled Income: $128,424.00
  • Insurance Expense: $11,412.00
  • Known Encumbrances: None Known
  • Expense Year: 2023
  • Total Annual Expense Source: Actual
  • Insurance Expense Source: Actual
  • Total Monthly Income: 10702
  • Water Expense Source: Actual
  • Net Operating Income: $94,215.00
  • Operating Expense: $34,209.00
  • Trash Expense: $.00
  • Water Sewer Expense: $1,200.00

Property History for 1059 West Wrightwood Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1059 West Wrightwood Avenue

Taxable ValueLand$52,080Additions$52,920Total$105,000
Tax Record2022$21,597 ($1,800 / month)
Home Facts
Baths5.5Total Finished SqFt4,235 SqFtAbove Grade Finished SqFt4,235 SqFtStories2Lot Size3,472 SqFtStyleMulti-Family Res (5+ Units)Year Built1883CountyCOOKAPN14-29-415-001

Schools near 1059 West Wrightwood Avenue

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

Lincoln Park 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.

Neighborhood Map and Transit

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1059 West Wrightwood Avenue is a mixed use property for sale in Chicago, IL 60614. This property was listed for sale on November 18, 2024 by Jameson Sotheby's Intl Realty, it's currently listed at $1,595,000. It has been on the market for a total of 3 days and was last sold on April 27, 2017. This listing's school district is Chicago Public Schools. Nearby schools include Mayer Elementary School, Lincoln Park High School and Hawthorne Elementary Scholastic Academy. 1059 West Wrightwood Avenue is a 0-bed, 0-bath, mixed use property.

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 Jameson Sotheby's Intl Realty

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 11/18/2024 10:27 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.