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$ 675,000
Est. payment /mo
Price Dropped by $50K
350 E 71st ST Chicago, IL 60619
12,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 12,000 sqft
Price per Sqft $56
MLS Listing ID 12769910
Year Built 1916
Annual Tax Amount $25,301
Tax Year 2025
Lot Dimensions 0.1768
Property Sub-Type Mixed Use
Property Description
SELLER SAYS SELL!! LOOKING TO CLOSE QUICK! Seller moving on to other ventures. Exceptional mixed-use investment opportunity in Greater Grand Crossing! This 12-unit property features 8 residential apartments and 4 commercial spaces, providing multiple income streams in one asset. Currently, 7 of the 8 apartments are occupied at $1,000/month each, while 3 of the 4 commercial spaces are occupied and generating a combined $5,000/month. Current occupied rental income totals approximately $12,000 per month / $144,000 annually, with additional upside from the vacant apartment and commercial/restaurant space. The property offers separately metered utilities rear parking and established commercial tenants. The available restaurant space creates an opportunity for an investor to increase income through lease-up or potentially reposition the space for another permitted use. Convenient South Side location with access to transportation, neighborhood businesses and major Chicago thoroughfares. Property sold as-is. Buyer to verify all information, income, expenses, zoning, permitted uses, assumes City violations, unit count and measurements.
Location
State IL
County Cook
Area Chi - Greater Grand Crossing
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Building
Dwelling Type Mixed Use
Structure Type Brick
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Listed by Shawna Jeninga of Listing Leaders Northwest, Inc