3022-24-28 West Cermak Road

Chicago, IL 60623

$1,250,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Investment Summary The 2 Greystone buildings and dedicated parking lot are located in what many consider the best neighborhood in Chicago for investment right now. The near term appreciation is expected to be huge. The East Little Village/ West Pilsen neighborhood is the hottest up and coming in Chicago due to it's close proximity to Downtown Chicago along with the amenities of the public transportation, a diverse shopping district, along with the connection to the city's boulevard and park systems....Investment Summary The 2 Greystone buildings and dedicated parking lot are located in what many consider the best neighborhood in Chicago for investment right now. The near term appreciation is expected to be huge. The East Little Village/ West Pilsen neighborhood is the hottest up and coming in Chicago due to it's close proximity to Downtown Chicago along with the amenities of the public transportation, a diverse shopping district, along with the connection to the city's boulevard and park systems. Think "Logan Square South". Many buildings in the area are being rehabbed and several new construction projects have already begun. There is Pink Line EL train stop approximately 2 blocks from this location. Douglas Park, which is one block from the subject property, is a gem in the park system and hosts several music fests that have helped bring about positive economic change to areas on the north side of the city. Chicago has recently replaced much of the infrastructure in the neighborhood including water mains, sewer lines, sidewalks/ curbs, and added trees to the street city-scape in anticipation. Both residential and commercial rents are on the rise with tenants moving in from other parts of the city. This is expected to continue for the foreseeable future. Chicago, as a whole, also continues to experience people moving in from other parts of the country looking to become part of the rich and diverse employment opportunities the city has to offer. The subject property is fully stabilized and has been well maintained. The property features 3 adjoining properties. There are 2 grey stone mixed-use buildings and 1 vacant lot containing a 3 car garage. There 4 commercial tenants and 4 residential tenants occupancies. On the first floor is a 2 storefronts rented for artist use. The second and third floors contain 4-two bedroom apartments and 2-one bedroom apartments. Every unit on both floors are spacious, comfortable and easily rented. Each apartment has good sized bedrooms, which is a critical factor in renting in the city. All mechanicals have been updated. There are with full 6 HVAC systems and 2 units with just furnace systems. Every space is fully updated with newer kitchen and bath finishes. Residential tenants also enjoy shared outdoor space. There is a 7 outdoor, off-street parking parking spots and a 3-car garage for a total of 10 spots. There are 3 separate PIN's associated with this listing. This listing is part of a larger portfolio which consists of 4 buildings (8 Commercial / 16 Residential Units) and 6 vacant lots that are primarily located on the same block (2 double vacant lots are a block away). The seller group is doing principal management and are looking to retire. The other properties are available as active listings. Please contact the listing agent for more details.
  1. Listed by James Mason • Mason Realty

Property Details for 3022-24-28 West Cermak Road

Area
CHI - South Lawndale
Township
West Chicago
LISTING UPDATED: 01/03/2025 12:07 AM

Property Details for 3022-24-28 West Cermak Road

StatusActive
MLS #12213153
Days on Market43
Taxes$10,480 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1910
Lot Size0.22 AC / 9,375 SF
CountyCook County

Building Information for 3022-24-28 West Cermak Road

Stories3Residences7Year Built1910Lot Size0.22 AC / 9,375 SF

Property Information for 3022-24-28 West Cermak Road

General Information
Addtl Parking Information
  • Outdoor Parking: 6-12 Spaces
Location and General Information
  • Geographic Locale: East/West Corridor
  • Information: 48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Air Conditioning: Central Air, Central Individual
  • Electric: Service - 201 to 600 Amps
  • Flooring: Wood
  • # Of Washers: 2
  • Heat/Ventilation: Central Heat/Indiv Controls
  • # Of Refrigerators: 5
  • Washer/Dryer Lsd: No
  • Misc Inside: Multi-Tenant
  • # Of Dryers: 2
  • # Of Dishwashers: 6
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 6
  • Misc Outside: Balcony/ies,Courtyard
Property/Lot Information
  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: 7-15 Years
  • Lot Dimensions: 75 X 125
  • Lot Size Square Feet: 9375.0
  • Stories: 3
  • Exterior Building Type: Brick, Stone
  • Construction: Brick
  • Roof Type: Membrane
  • Fire Protection: Carbon Monoxide Detector(s)
  • Foundation Details: Concrete Perimeter
  • Building Area Total: 10300
  • # Of Offices: 1
  • Office SqFt: 4600
  • # Of Ranges: 6
  • # Of Stores: 1
  • Property Sub Type: Apts/Ofc/Store, Apts/Ofc
Property and Assessments
  • Buyer Financing: Trade
  • Public Document Count: 0
  • Photos Count: 24
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: $1,200.00
  • Fuel Expense: $1,200.00
  • Gross Income: $134,760.00
  • Gross Scheduled Income: $134,750.00
  • Insurance Expense: $4,500.00
  • Electric Expense Source: Owner Projection
  • Expense Year: 2023
  • Total Annual Expense Source: Actual
  • Fuel Expense Source: Owner Projection
  • Insurance Expense Source: Owner Projection
  • Other Expense Source: Actual
  • Trash Expense Source: Owner Projection
  • Total Monthly Income: 11230
  • Water Expense Source: Owner Projection
  • Net Operating Income: $95,519.00
  • Operating Expense: $39,241.00
  • Other Expense: $28,341.00
  • Trash Expense: $.00
  • Water Sewer Expense: $4,000.00

Property History for 3022-24-28 West Cermak Road

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 3022-24-28 West Cermak Road

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

Farragut Career Academy High School
Public9 to 12

Saucedo Elementary Scholastic Academy
PublicPK to 8

Spry Community Links 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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3022-24-28 West Cermak Road is a mixed use property for sale in Chicago, IL 60623. This property was listed for sale on November 23, 2024 by Mason Realty, it's currently listed at $1,250,000. This listing's school district is Chicago Public Schools. Nearby schools include Hammond Elementary School, Farragut Career Academy High School and Saucedo Elementary Scholastic Academy. 3022-24-28 West Cermak Road is a 0-bed, 0-bath, mixed use property built in 1910.

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 Mason 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 01/03/2025 12:07 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.