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Mayra Pezzella

mayrapezzellarealtor@gmail.com +1(224) 508-1554

Listed by Harrison Cohenof Triton Realty Group LLC

$ 1,825,000

Est. payment -/mo

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Active Under Contract

1947 W Chicago Avenue Chicago, IL 60622

UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family 5+

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID 12477829

Year Built 1894

Annual Tax Amount $26,714

Tax Year 2023

Lot Dimensions 2,927

Property Sub-Type Multi Family 5+

Property Description

Triton is pleased to offer for sale 1947 W. Chicago Ave., a six (6) unit mixed-use investment property located in the heart of Chicago's desirable West Town neighborhood. This offering presents an investor the opportunity to acquire a renovated, stabilized asset with an attractive and diversified income stream. The building features five (5) apartments and one (1) ground floor retail space. The retail space is currently leased to the West Town Chicago Chamber of Commerce through Feb 2029 and houses local small businesses, providing immediate and stable cash flow.. The current vendor is Marci Maxine Vintage + Art Studio. The apartment unit mix has four (4) 1-bedroom / 1-bath apartments and one (1) 3-bedroom / 2-bath penthouse apartment. Each unit features separate tenant paid electric, HVAC, in-unit washer and dryer and well laid out floor plans. 1947 W. Chicago sits a vibrant prime West Town location, a neighborhood known as a cultural hub with premier shopping and dining options. The Neighborhood's diverse history, brought by the various sub neighborhoods it encompasses (including East Village, Ukrainian Village, and Wicker Park, among others), has contributed to its unique character. The property is ideally positioned directly on bustling Chicago Avenue with cross street Damen Avenue, providing excellent visibility and foot traffic for the retail tenant, and offering residents convenient access to all the neighborhood has to offer. The location also benefits from close proximity to public transportation, offering seamless connectivity throughout Chicago. An investor has the opportunity to acquire a renovated asset with rental upside in existing condition. While the property currently provides a stable income, there is potential to increase rents on the residential units through cosmetic renovations. The desirable location and evolving neighborhood dynamics provide a strong foundation for future rental growth and capital appreciation.

Location

State IL

County Cook

Zoning COMMR

Interior

Cooling Central Air, Central Individual

Fireplace N

Exterior

View Y/N true

Building

Structure Type Brick

SCHOOLSPROPERTIES

Elementary Schools 20

10

STEM Magnet Academy Elementary School

Public | KG - 5
10

Skinner Elementary School

Public | PK - 5
10

Skinner North Elementary School

Public | KG - 6
10

Lincoln Elementary School

Public | KG - 8
9

Burley Elementary School

Public | KG - 8
9

Prescott Elementary School

Public | PK - 8
9

Jackson a Elementary Language Academy

Public | KG - 8
9

Galileo Elementary Math & Science Schol Acd

Public | KG - 8
9

Alcott Elementary School

Public | KG - 8
8

Mitchell Elementary School

Public | PK - 8
8

Lasalle II Lang Academy Elementary School

Public | PK - 8
8

Burr Elementary School

Public | PK - 8
8

Perez Elementary School

Public | PK - 8
8

Mayer Elementary School

Public | PK - 8
8

Lasalle Elementary Language Academy

Public | KG - 8
7

Locke a Elementary Charter Academy

Public | PK - 8
7

Von Linne Elementary School

Public | KG - 8
7

Pulaski International School of Chicago

Public | KG - 8
7

Columbus Elementary School

Public | PK - 8
7

Pritzker Elementary School

Public | KG - 8

Middle Schools 5

10

Young Magnet High School

Public | 7 - 12
7

Orozco Elementary School

Public | 6 - 8
7

Ogden Intermediate High School

Public | 6 - 12
3

Aspira Charter Schools

Public | 6 - 12
0

Iyc Chicago

Public | 6 - 12

High Schools 20

10

Payton College Preparatory High School

Public | 9 - 12
9

Westinghouse High School

Public | 9 - 12
9

Lincoln Park High School

Public | 9 - 12
8

Phoenix Military Academy High School

Public | 9 - 12
6

Crane Medical Preparatory High School

Public | 9 - 9
5

North Lawndale Charter High School

Public | 9 - 12
5

Clemente Community Academy High School

Public | 9 - 12
4

Marshall Metropolitan High School

Public | 9 - 12
4

Manley Career Academy High School

Public | 9 - 12
4

Wells Community Academy High School

Public | 9 - 12
3

Alcott Humanities High School

Public | 9 - 12
3

Juarez Community Academy High School

Public | 9 - 12
2

Raby High School

Public | 9 - 12
2

Chicago Technology Academy High School

Public | 9 - 12
1

Collins Academy High School

Public | 9 - 12
1

Legal Preparatory Academy Charter High School

Public | 9 - 10
1

Urban Preparatory Charter Academy West Campus High School

Public | 9 - 12
0

Ford Power House Charter High School

Public | 9 - 12
0

Magic Johnson-Nth Lawndale High School

Public | 9 - 12
0

Pathways in Education Avondale High School

Public | 9 - 12

School and business data provided by Attom Data.

Mayra Pezzella

Real Estate Professional | REALTOR® | License ID: 1010235

+1(224) 508-1554

Mayra Pezzella

1947 W Chicago Avenue Chicago, IL 60622

Key Details

Location

Interior

Exterior

Building

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1947 W Chicago Avenue