3801 W Chicago Avenue, Chicago, Illinois 60651
- $215,000
- Sold Price
- $215,000
- List Price
- $229,000
- Closing Date
- Apr 28, 2025
- MLS#
- 12310197
- Status
- CLOSED
- Type
- Commercial
- Subtype
- Commercial Sale
- County
- Cook
- City
- Chicago
- Gross Rental Income
- 16200
- Neighborhood
- East Garfield Park
- Days On Market
- 15
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!
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Additional Information
- Tax Year
- 2023
- Tax Amount
- $2,054
- Year Built
- 1881
- Lot Dimensions
- 3000SQFT
- Air Conditioning
- Partial
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Selling Office: Solaris Enterprises Inc.
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