Adult 55+
Address
3968 N Elston Avenue, Chicago, IL
Price
$ 549,000
Property Attributes
- MLS#11286717
- TypeCommercial
- CountyCOOK
- CityChicago
- AreaCHI - Irving Park
- NeighborhoodIrving Park
- Zip60618
- Style
- Year Built1921
- Taxes$ 6502
- Price$ 549,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage3950
- Lot Size2,735 SqFt
Listing Provided Courtesy Of:
ACO Commercial
Data Source:
Midwest Real Estate Data (MRED)
Property Description
For sale, for the first time in 75 years, this four-unit mixed-use comprised of first floor Retail/Restaurant and (3) 2Bed/1Bath apartments in Chicago's Irving Park neighborhood. The retail space has been home to the "Guy Lon" Chinese restaurant, a neighborhood fixture, for nearly seven decades. The restaurant operations ceased during the pandemic; however, all licensing and fixtures remain intact, in the event a new operator would like to re-open. The restaurant and building ownership are the same, and the sale is in conjunction with the owner retirement. The building configuration is unique having frontage on both Elston and Monticello Avenues, with 3,950 SF of rentable area, and a full base- ment. All apartment tenants have month-to-month occupancy. The property is individually metered for electric and master-metered for water and gas with central boiler and hot water systems. The property is currently 75% occupied with all tenants on a month-to-month basis. The offering provides an investor or owner occupant the opportunity to add-value through renovation and lease renewal. The property is being offered on an "as-is, where-is," basis. In addition, the former restaurant business is also being offered for $30,000.
| Price History | |
|---|---|
| 12/14/2021 | Listed $595,000 |
| 4/15/2022 | 8% - $549,000 |
General Features
| Additional Parcels Y/N | No |
|---|---|
| City | Chicago |
| Cooling | Central Air |
| County | Cook |
| Days on Market | 141 |
| Directions | West side of Elston across from McDonald's |
| Electric | Circuit Breakers, Fuses |
| Lease Type | N/A |
| Lot Size Square Feet | 2735 |
| MLS Area | CHI - Irving Park |
| Property SubType | Mixed Use |
| Property Type | Mixed Use |
| Property Type | Commercial Sale |
| Standard Status | Active |
| Status | Active |
| Stories | 3 |
| Street Name | Elston |
| Tax Annual Amount | 6502 |
| Tax Year | 2020 |
| Tenant Pays | Other |
| Total Units | 4 |
| Year Built | 1921 |
| Zoning | MULTI |
Interior Features
| Street Suffix | Avenue |
|---|
Exterior Features
| Building Area Total | 3950 |
|---|---|
| Lot Dimensions | 2735 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 60618
Price
Taxes
Visits
Year Built
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