3801 W Chicago AVE Save Request In-Person Tour Request Virtual Tour
Chicago,IL 60651
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 3,216 sqft
Price per Sqft $71
MLS Listing ID 12310197
Year Built 1881
Annual Tax Amount $2,054
Tax Year 2023
Lot Dimensions 3000SQFT
Property Sub-Type Mixed Use
Property Description
Prime Corner Mixed-Use Investment Opportunity in Humboldt Park! Take advantage of this incredible value-add opportunity with this historic two-story brick building located on the high-traffic corner of Chicago Avenue and Hamlin. Built in 1881 and offering 3,200 sq. ft., this B3-2 zoned property is ideal for investors or owner-operators looking for a strategic location with ample street parking and strong visibility, estimated 19,000 VPD. The first floor is currently leased to "Chicago Best Burrito," a well-established and successful restaurant paying 1,350/month, with a lease in place until April 1, 2026, plus a two-year renewal option-providing immediate cash flow. The second floor features an expansive 4-bedroom, multi-bathroom apartment in need of rehab. With updates, this unit could generate an estimated rental income of 2,600/month, significantly increasing the property's overall revenue potential. At the rear of the property, you'll find a sturdy wooden porch, as well as green space enclosed by a well-maintained black iron fence, offering added security and privacy. While the building does require some repairs, including tuckpointing and a potential roof replacement, the long-term potential is enormous. With its high-visibility corner lot, strong rental upside, and a mix of residential and commercial space, this property presents an exceptional investment opportunity in a growing neighborhood. Schedule your showing today and explore the possibilities!
Location
State IL
County Cook
Area Chi - Humboldt Park
Zoning COMMR
Interior
Cooling Partial
Flooring Carpet,Tile
Fireplace N
Exterior
Utilities Available Cable Available
Roof Type Rubber
Building
Dwelling Type Mixed Use
Level or Stories 2
Structure Type Brick