1556 North LaSalle Street

Chicago, IL 60610

$2,699,999
Price
5
Beds
4
Baths
3
1/2 Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Monthly rent roll = $21,000+ (Billboard = $4,000, Commercial Unit = $4,750, Penthouse = $6,200, Unit 2R = $3,100, Unit 2F = $3,100). The building was 100% gut rehabbed (including the commercial unit). There is a $4,000 / per month billboard on the side of the building that has a long term lease! Commercial unit gets $4,750 a month from a successful barber shop (on year 2 of 10 year lease) 1 Billboard, 1 Commercial unit, 3 Residential units that were gut rehabbed in 2023! Furthermore, the Penthouse...Monthly rent roll = $21,000+ (Billboard = $4,000, Commercial Unit = $4,750, Penthouse = $6,200, Unit 2R = $3,100, Unit 2F = $3,100). The building was 100% gut rehabbed (including the commercial unit). There is a $4,000 / per month billboard on the side of the building that has a long term lease! Commercial unit gets $4,750 a month from a successful barber shop (on year 2 of 10 year lease) 1 Billboard, 1 Commercial unit, 3 Residential units that were gut rehabbed in 2023! Furthermore, the Penthouse unit has the City approved short-term rental license. You can legally rent out the Penthouse as an Airbnb! This property is a cash cow and can generate approximately $255,000+ in annual revenue. Building comes fully furnished/turn key for furnished short-term rentals. Great investment! 15%+ cash on cash return, 10% = cap rate. The subject property is comprised of a +/- 2,500 SF land site improved with a +/- 6,300 SF 2.5-story, brick, mixed-use (commercial and residential) building in the Old Town neighborhood of Chicago. The ground/garden level of the subject is comprised of a rented commercial storefront unit totaling approximately 2,000 SF. The 2nd floor is comprised of 2 MTM furnished rentals. Each unit is a 2 bed unit. The top floor consists of a single, large residential apartment unit that spans the entire floor and measures approximately 2,000 SF. This unit is legally licensed as an Airbnb. The site is zoned B3-5, Community Shopping District. Manager would like to stay on to manage the short term rentals. This property has great cashflow, even @ 8% interest rates!

Property Details for 1556 North LaSalle Street

Area
CHI - Near North Side
Township
North Chicago
Ownership
Fee Simple
Num Of Parking Spaces
0.0
Heat/Fuel
Forced Air
Zoning
COMMR

Location

Listing Courtesy of TBFS Investments LLC-Realty
Add your commute
LISTING UPDATED: 05/15/2024 12:17 AM

Property Details for 1556 North LaSalle Street

StatusActive
MLS #12051627
Days on Market11
Taxes$34,555 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeTwo to Four Units / 3 Flat
Year Built1906
Lot Size0.06 AC / 2,500 SF
CountyCook County

Location

Listing Courtesy of TBFS Investments LLC-Realty
Add your commute

Building Information for 1556 North LaSalle Street

Stories-Residences4Year Built1906Building Size-Lot Size0.06 AC / 2,500 SF

Payment Calculator

$17,615 per month

30 year fixed, 7.25% Interest

Principal and Interest

$14,735

Property Taxes

$2,880

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1556 North LaSalle Street

General Information
School Information
  • Elementary School District: 299
  • High School District: 299
  • Middle Or Junior School District: 299
Addtl Parking Information
  • Parking: None
Property Information
Interior Features
  • Num Of Rooms: 17
  • Bedrooms (Below Grade): 0
  • Basement Type: None
  • Bedrooms Possible: 5
  • Basement Description: None
  • Basement Bathrooms: No
  • # Full Baths in Building: 4
  • # Half Baths in Building: 3
  • Num of Baths: 4.3
Utilities / Equipment
  • Sewer: Sewer-Public
  • Water: Public
Property/Lot Information
  • New Construction YN: No
  • Rebuilt: No
  • Rehabilitated: Yes
  • Rehab Year: 2023
  • Built Before 1978: Yes
  • Age: 100+ Years
  • Lot Size: Less Than .25 Acre
  • Lot Dimensions: 2500
  • Total # Units in Building: 4.0
  • Waterfront: No
  • Exterior Building Type: Brick
  • General Information: None
  • North Coordinate: 1556
  • South Coordinate: 0
  • East Coordinate: 0
  • West Coordinate: 150
  • 3 Br Un In Bldg: No
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 37
  • OpenHouse Count: 0
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Unit 1
  • Unit Type Actual Rent: $4,750.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
  • Lease Expiration Date: 2033
Unit 2
  • Unit Type Actual Rent: $3,100.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 2
  • Lease Expiration Date: NONE
Unit 3
  • Unit Type Actual Rent: $3,100.00
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 3
  • Lease Expiration Date: NONE
Unit 4
  • Unit Type Actual Rent: $6,200.00
  • Unit Type Baths Total: 3
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 4
  • Lease Expiration Date: NONE

Property History for 1556 North LaSalle Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 1556 North LaSalle Street

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - K to 8
Public - K to 8
Rating
School
Distance
Manierre Elementary School
PublicPK to 8

Lincoln Park High School
Public9 to 12

Lasalle Elementary Language Academy
PublicK to 8

Franklin Elementary Fine Arts Center
PublicK to 8

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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1556 North LaSalle Street is a multi-family home for sale in Chicago, IL 60610. This property was listed for sale on May 9, 2024 by TBFS Investments LLC-Realty, it's currently listed at $2,699,999. This listing's school district is City Of Chicago School District 299. Nearby schools include Manierre Elementary School, Lincoln Park High School and Lasalle Elementary Language Academy. 1556 North LaSalle Street is a 5-bed, 5.5-bath, multi-family home built in 1906.

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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of TBFS Investments LLC-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 05/15/2024 12:17 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.