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Listed by Matthew Mikaof Compass
$ 499,900
Est. payment /mo
Active Under Contract
7259 W Irving Park Road Chicago, IL 60634
3,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Bus / Bus w/Real Est
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 3,000 sqft
Price per Sqft $166
MLS Listing ID 12292141
Annual Tax Amount $16,341
Tax Year 2023
Lot Dimensions 83X125X62X25X112
Property Sub-Type Bus / Bus w/Real Est
Property Description
Business is NOT included in the offering. Current tenant has a lease through December 31, 2030 with a FIVE year option. Strictly property investment only unless purchaser can negotiate with the tenant to end lease. Seller will NOT entertain any offers subject to possession nor negotiating with tenant. PLEASE DO NOT DISTURB TENANT AT ALL. Any personal/business property is not included with the sale. Current rent is $5600 with gradual increases to $5800 in 2030. and increases during option period. Currently $67,200 gross rent less taxes and insurance approximately $48,000. net income or 9.6% return cash on cash. Owner claims tenant is solid and has not been delinquent on rent payments. Future development right across the street from Harlem/Iring shopping plaza. Again - PLEASE DO NOT DISTURB TENANT. Drive by showing only at this time. Survey in additional info. Any questions regarding this listing please contact Norbert Mika - Text or email preferred.
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Exhaust Fan, Window Unit(s)
Fireplace N
Exterior
Utilities Available Electric to Site, Natural Gas Available, Water Available
View Y/N true
Roof Type Rubber
Building
Structure Type Brick,Concrete
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