3159 North California Avenue

Chicago, IL 60618

$5,250,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Best location on 3 major corners (Belmont, California and Elston Avenues) with numerous car count passing each street every day on all 3 of these major streets. Tenants are long time tenants. Plus rental income that easily could be increased to today's rental rates. There is an opportunity for "value added" to increase apartment rents. Present rents are under market value. Incredible land square footage. Corner building is 18,812 square feet with 159 linear feet on Belmont Avenue. 3173 Elston Avenue...Best location on 3 major corners (Belmont, California and Elston Avenues) with numerous car count passing each street every day on all 3 of these major streets. Tenants are long time tenants. Plus rental income that easily could be increased to today's rental rates. There is an opportunity for "value added" to increase apartment rents. Present rents are under market value. Incredible land square footage. Corner building is 18,812 square feet with 159 linear feet on Belmont Avenue. 3173 Elston Avenue is 4,500 square foot lot with a 4,200 square foot 1 story brick building under a triple net lease. Each apartment and each store pay their own and have individual forced air conditioning and heat units. Each apartment enjoys their own roof deck and there is a common roof deck for the tenants. There is a 19 car shared parking lot adjoining the properties. The properties are meticulously cleaned and well kept. There are 7 stores, 9 apartments plus income from a rooftop sign. The properties are in excellent condition but the properties will be sold "as is where is". The sale would be subject to a "1031 Exchange". Same ownership for over 55 years. Financial information available on request. Proof of funds required on all offers. The properties will not be divided. Confirmed showings only.
  1. Listed by Joyce Gallo • @properties Christie's International Real Estate

Property Details for 3159 North California Avenue

Area
CHI - Avondale
Township
North Chicago
Zoning
OTHER
LISTING UPDATED: 08/22/2024 02:02 PM

Property Details for 3159 North California Avenue

StatusActive
MLS #11963555
Days on Market431
Taxes$84,550 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built-
Lot Size0.43 AC / 18,812 SF
CountyCook County

Building Information for 3159 North California Avenue

Stories2Residences16Year Built-Lot Size0.43 AC / 18,812 SF

Property Information for 3159 North California Avenue

General Information
Location and General Information
  • Geographic Locale: Chicago North
  • Information: List Broker Must Accompany,No Sign on Property
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Air Conditioning: Central Air
  • Electric: Circuit Breakers
  • Heat/Ventilation: Central Heat/Indiv Controls,Gas
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 9
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Air Conditioning, Heat
  • Built Before 1978: No
  • Approximate Age: Older
  • Lot Dimensions: 18,812 SQ FT
  • Lot Size Square Feet: 18812.0
  • Stories: 2
  • Exterior Building Type: Brick
  • Fire Protection: Smoke or Fire Protectors
  • # Of Offices: 0
  • # Of Stores: 7
  • Property Sub Type: Apts/Stores
  • MRD_UNC: No
Property and Assessments
  • Buyer Financing: Conventional, Cash, Other
  • Public Document Count: 0
  • Photos Count: 19
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 16
Income & Expenses
  • Electric Expense: $3,878.00
  • Fuel Expense: $3,000.00
  • Gross Income: $498,600.00
  • Gross Scheduled Income: $498,600.00
  • Insurance Expense: $25,474.00
  • Total Monthly Income: 41550
  • Net Operating Income: $333,548.00
  • Operating Expense: $172,552.00
  • Other Expense: $.00
  • Trash Expense: $1,506.00
  • Water Sewer Expense: $21,000.00

Property History for 3159 North California Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 3159 North California Avenue

This home is within Chicago Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Charter - K to 8
Public - 11 to 12
Rating
School
Distance
Linne Elementary School
PublicPK to 8

Schurz High School
Public9 to 12

Acero Charter - Carlos Fuentes Campus
CharterK to 8

Devry Advantage Academy High School
Public11 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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3159 North California Avenue is a mixed use property for sale in Chicago, IL 60618. This property was listed for sale on January 25, 2024 by @properties Christie's International Real Estate, it's currently listed at $5,250,000. This listing's school district is Chicago Public Schools. Nearby schools include Linne Elementary School, Schurz High School and Acero Charter - Carlos Fuentes Campus. 3159 North California 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 @properties Christie's International Real Estate

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 08/22/2024 02:02 PM. 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.