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$229,000
Est. payment /mo
3,216 SqFt
UPDATED:
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
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© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Brandon Banks • Coldwell Banker Realty
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CROSSTOWN REALTORS
Owner | License ID: 471019341