7201 North Western Avenue

Chicago, IL 60645

$2,750,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

606 Realty LLC is pleased to exclusively offer for purchase 7201 N Western, a turnkey, mixed-use building featuring ten (10) residential units and eleven (11) ground-floor commercial spaces, located in Chicago's West Ridge area. Most units have been cosmetically updated with modern kitchens and bathrooms. Each apartment is separately metered with individual tenant-paid heat. The property offers a unique opportunity to acquire a strong, stabilized cash-flowing asset with an in-place cap rate of over...606 Realty LLC is pleased to exclusively offer for purchase 7201 N Western, a turnkey, mixed-use building featuring ten (10) residential units and eleven (11) ground-floor commercial spaces, located in Chicago's West Ridge area. Most units have been cosmetically updated with modern kitchens and bathrooms. Each apartment is separately metered with individual tenant-paid heat. The property offers a unique opportunity to acquire a strong, stabilized cash-flowing asset with an in-place cap rate of over 6% from day one.
  1. Listed by Tim Mehmeti • 606 Realty LLC

Property Details for 7201 North Western Avenue

Area
CHI - West Ridge
Zoning
MULTI
LISTING UPDATED: 11/14/2024 03:29 PM

Property Details for 7201 North Western Avenue

StatusNew
MLS #12210481
Days on Market1
Taxes$19,440 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1928
Lot Size0.23 AC / 10,150 SF
CountyCook County

Building Information for 7201 North Western Avenue

Stories2Residences21Year Built1928Lot Size0.23 AC / 10,150 SF

Property Information for 7201 North Western Avenue

General Information
Addtl Parking Information
  • Indoor Parking: 1-5 Spaces
Location and General Information
  • Geographic Locale: Chicago North
  • Information: 24-Hr Notice Required,List Broker Must Accompany,48-Hr Notice Required,No Sign on Property
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Individual, Window Unit(s)
  • Electric: Circuit Breakers
  • Heat/Ventilation: Central Heat/Indiv Controls
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 10
Property/Lot Information
  • Tenant Pays: Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 10150
  • Lot Size Square Feet: 10150.0
  • Stories: 2
  • Exterior Building Type: Brick
  • Roof Type: Rubber
  • Fire Protection: Fire Extinguisher/s
  • Roof Structure: Flat
  • # Of Offices: 0
  • # Of Stores: 11
  • Property Sub Type: Apts/Stores
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 6
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 21
Income & Expenses
  • Electric Expense: $681.00
  • Fuel Expense: $2,596.00
  • Gross Income: $242,931.00
  • Gross Scheduled Income: $242,931.00
  • Insurance Expense: $14,467.00
  • Electric Expense Source: Owner Projection
  • Expense Year: 2024
  • Total Annual Expense Source: Owner Projection
  • Fuel Expense Source: Owner Projection
  • Insurance Expense Source: Owner Projection
  • Other Expense Source: Owner Projection
  • Trash Expense Source: Owner Projection
  • Total Monthly Income: 20244
  • Water Expense Source: Owner Projection
  • Net Operating Income: $185,418.00
  • Operating Expense: $57,513.00
  • Other Expense: $4,000.00
  • Trash Expense: $8,435.00
  • Water Sewer Expense: $8,338.00

Property History for 7201 North Western 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 7201 North Western Avenue

Taxable ValueLand$17,001Additions$75,137Total$92,138
Tax Record2022$18,951 ($1,579 / month)
Home Facts
Total Finished SqFt10,100 SqFtAbove Grade Finished SqFt10,100 SqFtStories2Lot Size10,150 SqFtStyleStoresYear Built1928CountyCOOKAPN11-30-318-009

Schools near 7201 North Western Avenue

This home is within Chicago Public Schools.
Rating
School
Type
Grades
Distance
Charter - K to 12
Public - 9 to 12
Public - K to 8
Charter - 6 to 12
Rating
School
Distance
Acero Chtr Sor Juana Ines de la
CharterK to 12

Sullivan High School
Public9 to 12

Decatur Classical Elementary School
PublicK to 8

Chicago Math & Sci Elementary Charter
Charter6 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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7201 North Western Avenue is a mixed use property for sale in Chicago, IL 60645. This property was listed for sale on November 14, 2024 by 606 Realty LLC, it's currently listed at $2,750,000. This listing's school district is Chicago Public Schools. Nearby schools include Acero Chtr Sor Juana Ines de la, Sullivan High School and Decatur Classical Elementary School. 7201 North Western Avenue is a 0-bed, 0-bath, mixed use property built in 1928.

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 606 Realty LLC

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 11/14/2024 03:29 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.