3822 West Madison Street

Chicago, IL 60624

$225,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

This property offers a unique mixed-use opportunity with both commercial and residential components. The apartment features approximately 1,000+ square feet of living space, with 3 bedrooms and 1 bathroom. The commercial portion of the property comprises approximately 1,400+ square feet and is currently being utilized as a saloon, with customer seating space and private vendor suites, as well as a manager's office. The commercial tenants are month-to-month and in good standing. The residential section...This property offers a unique mixed-use opportunity with both commercial and residential components. The apartment features approximately 1,000+ square feet of living space, with 3 bedrooms and 1 bathroom. The commercial portion of the property comprises approximately 1,400+ square feet and is currently being utilized as a saloon, with customer seating space and private vendor suites, as well as a manager's office. The commercial tenants are month-to-month and in good standing. The residential section of the property is occupied by a long-term tenant, also on a month-to-month basis and in good standing. Recent updates to the property include updated kitchen floor and cabinets, newer boilers, a new hot water tank for the residential tenant, and a new air conditioning system for the commercial tenant. This unique mixed-use setting offers a significant opportunity for the owner to generate income from both the commercial and residential components. The property's location on Madison Avenue provides excellent foot traffic and shopping opportunities, as well as proximity to the nearby park, which hosts a variety of community activities throughout the year. The security shutters installed on the property provide an added layer of protection and peace of mind for both tenants and the owner. The open concept saloon layout allows for versatility and potential customization to suit the needs of future commercial tenants.
  1. Listed by Daryl Brewer • Coldwell Banker Realty

Property Details for 3822 West Madison Street

Area
CHI - West Garfield Park
Zoning
OTHER
LISTING UPDATED: 10/20/2024 12:06 AM

Property Details for 3822 West Madison Street

StatusActive
MLS #12102741
Days on Market207
Taxes$1,511 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1906
Lot Size0.10 AC / 4,158 SF
CountyCook County

Building Information for 3822 West Madison Street

Stories2Residences2Year Built1906Lot Size0.10 AC / 4,158 SF

Property Information for 3822 West Madison Street

General Information
Location and General Information
  • Geographic Locale: Chicago West
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Wall Sleeve, Window Unit(s)
  • Electric: Circuit Breakers
  • Heat/Ventilation: Hot Water,Radiators
  • # Of Window/Ac: 1
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 1
Property/Lot Information
  • Tenant Pays: Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: 36-50 Years
  • Lot Dimensions: 4158
  • Lot Size Square Feet: 4158.0
  • Stories: 2
  • Exterior Building Type: Brick
  • Construction: Brick
  • Fire Protection: Alarm On Site,Fire Extinguisher/s
  • Roof Structure: Flat
  • Foundation Details: Brick/Mortar
  • # Of Offices: 1
  • Other SqFt: 1153
  • Retail SqFt: 1600
  • # Of Stores: 1
  • Property Sub Type: Apts/Ofc/Store, Apts/Ofc, Apts/Stores
Property and Assessments
  • Possible Use: Commercial, Office and Research, Retail
  • Buyer Financing: Conventional, Purchase Money Mortgage, Cash, Negotiable
  • Public Document Count: 0
  • Photos Count: 31
Miscellaneous
  • Current Use: Commercial
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 2
Income & Expenses
  • Electric Expense: $175.00
  • Fuel Expense: $.00
  • Gross Income: $25,200.00
  • Gross Scheduled Income: $25,200.00
  • Insurance Expense: $125.00
  • Electric Expense Source: Owner Projection
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Owner Projection
  • Other Expense Source: Owner Projection
  • Total Monthly Income: 2100
  • Water Expense Source: Owner Projection
  • Other Expense: $.00
  • Trash Expense: $50.00
  • Water Sewer Expense: $75.00

Property History for 3822 West Madison Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 3822 West Madison Street

Taxable ValueLand$3,076Additions$2,921Total$5,997
Tax Record2022$1,461 ($122 / month)
Home Facts
Baths2.5Total Finished SqFt2,753 SqFtAbove Grade Finished SqFt2,753 SqFtStories2Lot Size4,158 SqFtStyleMulti-Family Res (5+ Units)Year Built1906CountyCOOKAPN16-11-312-029

Schools near 3822 West Madison Street

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
Tilton Elementary School
PublicPK to 8

Orr Academy High School
Public9 to 12

Ericson Elementary Scholastic Academy
PublicPK to 8

Raby 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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3822 West Madison Street is a mixed use property for sale in Chicago, IL 60624. This property was listed for sale on July 8, 2024 by Coldwell Banker Realty, it's currently listed at $225,000. This listing's school district is Chicago Public Schools. Nearby schools include Tilton Elementary School, Orr Academy High School and Ericson Elementary Scholastic Academy. 3822 West Madison Street is a 0-bed, 0-bath, mixed use property 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. 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 Coldwell Banker 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 10/20/2024 12:06 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.