Chicago, IL 60647 1616 N WESTERN Avenue

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Presented By: Wesley Realty Group
  • MLS# 12089477
  • 06/20/2024
Disclaimer: The information contained in this listing has not been verified by Worth Clark Realty and should be verified by the buyer.
  • SQFT • 18,516

Home Details

Introducing a prime investment opportunity in Bucktown, this newer 10-unit building is a testament to modern luxury and urban convenience. Each extra-wide condo-quality apartment boasts high ceilings, balconies, hardwood floors, granite countertops, and 42-inch cabinets with stainless steel appliances, creating a sophisticated living experience. Oversized windows flood each unit with natural light, enhancing the spacious rooms and elegant interiors. The building includes eight storage units and nine attached garage spots, ensuring ample convenience for residents. Currently, the property is fully occupied with long-term, high-quality tenants, offering stability and immediate rental income. There is significant potential to increase rental rates, supported by the upscale design and desirable location. Featuring eight upscale residential units and two commercial spaces, each with separate tax IDs, this property offers versatility and investment security. Situated near the Blue Line and Western Avenue CTA stop, residents enjoy easy transit access, while the vibrant neighborhood boasts trendy restaurants, fashionable boutiques, art galleries, and music venues, enriching the local lifestyle and attracting a dynamic tenant base.
Presented By: Wesley Realty Group

General for 1616 N WESTERN Avenue

Additional Parcels Y/NNo
CityChicago
Construction MaterialsBrick
CoolingCentral Air
CountyCook
Days on Market7
DirectionsNORTH AVE WEST TO WESTERN AVE N.TO 1616
ElectricCircuit Breakers, Separate Meters
Electric Expense2800
Fuel Expense
Gross Income342283
Insurance Expense7900
Leasable Area
Lot Size Square Feet8250
MLS AreaCHI - West Town
Net Operating Income265914
NumberOfUnitsTotal10
Operating Expense39605
Property SubTypeNeighborhood Storefront
Property TypeCommercial Sale
Property TypeRetail/Stores
Standard StatusActive
StatusActive
Stories4
Tax Annual Amount48684
Tax Year2022
Tenant PaysAir Conditioning, Heat
TownshipWest Chicago
Trash Expense2556
Water Sewer Expense6908
Year Built2003
ZoningMULTI

Exterior for 1616 N WESTERN Avenue

Building Area Total18516
Lot Dimensions75X110

Additional Details

Price History

Worth Clark

Price $4,350,000
MLS#12089477
List Date 06/20/2024
Property Type Commercial
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