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
AVG $440K
$550K
Taxes
AVG $15,741
$6,502
Visits
AVG 78
102
Year Built
AVG 1958
1921
Walkscore
AVG 89
93
Data Provided by Walkscore ® not using MLS data

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