1556 N LaSalle Street
Chicago, IL, 60610
$2,649,999
5 Beds
7 Baths
SqFt
0 Acres
$2,649,999
1556 N LaSalle Street
Chicago, IL, 60610
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CASH COW!!! THERE IS A $6,200 / PER MONTH SIGN ADVERTISEMENT ON THE SIDE OF THE BUILDING THAT HAS A LONG TERM LEASE!!!!! 1 Billboard, 1 Commercial unit, 3 Residential units that were gut rehabbed in 2023! Furthermore, the Penthouse unit has the City approved short-term rental license. You can legally rent out the Penthouse as an Airbnb! This property is a cash cow and can generate approximately $300,000 in annual revenue. Building comes fully furnished/turn key for furnished short-term rentals. GREAT INVESTMENT! 19%+ cash on cash return, 10% = cap rate. The subject property is comprised of a +/- 2,500 SF land site improved with a +/- 6,300 SF 2.5-story, brick, mixed-use (commercial and residential) building in the Old Town neighborhood of Chicago. The ground/garden level of the subject is comprised of a rented commercial storefront unit totaling approximately 2,000 SF. The 2nd floor is comprised of 2 MTM furnished rentals. Each unit is a 2 bed unit. The top floor consists of a single, large residential apartment unit that spans the entire floor and measures approximately 2,000 SF. This unit is legally licensed as an Airbnb. The site is zoned B3-5, Community Shopping District.

Property Details

Price:
$2,649,999
MLS #:
MRD11727949
Status:
Active
Beds:
5
Baths:
7
Address:
1556 N LaSalle Street
Type:
Multi Family
City:
Chicago
Listed Date:
Mar 1, 2023
State:
IL
ZIP:
60610
Subdivision:
Lot Size:
Year Built:
1906

Schools

School District:
299

Interior

Heating
Forced Air

Exterior

Financial

Buyer Agent Compensation
2% – $399 PROCESSING FEENet Sale Price
Tax Year
2021
Taxes
$32,766
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Debra Dobbs is one of Chicago’s top realtors with more than 39 years in the real estate business.

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1556 N LaSalle Street
Chicago, IL