$5,250,000
3159 N California Avenue
Chicago, IL, 60618
Best location on 3 major corners (Belmont, California and Elston Avenues) with numerous car count passing each street every day on all 3 of these major streets. Tenants are long time tenants. Plus rental income that easily could be increased to today’s rental rates. There is an opportunity for “value added” to increase apartment rents. Present rents are under market value. Incredible land square footage. Corner building is 18,812 square feet with 159 linear feet on Belmont Avenue. 3173 Elston Avenue is 4,500 square foot lot with a 4,200 square foot 1 story brick building under a triple net lease. Each apartment and each store pay their own and have individual forced air conditioning and heat units. Each apartment enjoys their own roof deck and there is a common roof deck for the tenants. There is a 19 car shared parking lot adjoining the properties. The properties are meticulously cleaned and well kept. There are 7 stores, 9 apartments and a rooftop sign. The properties are in excellent condition but the properties will be sold “as is where is”. The sale would be subject to a “1031 Exchange”. Same ownership for over 55 years. Financial information available on request. Proof of funds required on all offers. The properties will not be divided. Confirmed showings only.
Property Details
Price:
$5,250,000
MLS #:
MRD11963555
Status:
Active
Beds:
0
Baths:
0
Address:
3159 N California Avenue
Type:
Commercial
Subtype:
Apts/Stores
City:
Chicago
Listed Date:
Jan 25, 2024
State:
IL
ZIP:
60618
Schools
Interior
Cooling
Central Air
Exterior
Financial
Buyer Agent Compensation
AS A PERCENTAGE OF THE NET SALE PRICE. THE NET SALE PRICE IS THE GROSS SALE PRICE MINUS AMOUNTS TO BE CREDITED OR PAID TO THE BUYER, AS REFLECTED IN THE INITIAL SALES CONTRACT.Net Sale Price
Tax Year
2022
Taxes
$84,550
Debra Dobbs is one of Chicago’s top realtors with more than 39 years in the real estate business.
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3159 N California Avenue
Chicago, IL
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