This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/26
1003 W Armitage Avenue, Chicago, IL 60614
$2,799,900
1003 W Armitage Avenue, Chicago, IL 60614View this property at 1003 W Armitage Avenue, Chicago, IL 60614
1003 W Armitage AvenueChicagoIL60614
This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/26
Property Description
Don't miss this extraordinary and rare investment opportunity with a 6.86% CAP RATE in the highly sought-after Lincoln Park neighborhood! This fully stabilized, recently gut-renovated mixed-use property offers a premier investment experience, featuring four residential apartments and one retail space. Strategically located on a desirable street, the property boasts a prime position directly across from the Chicago Transit Authority's (CTA) Brown Line L Train Stop at Armitage. With 100% occupancy and strong rental income, this investment presents the potential for rent increases while keeping operating expenses low. The commercial tenant covers 40% of CAM (including property tax and insurance), while residential tenants pay for utilities (gas and electricity). Significant recent upgrades, such as a new roof and AC condensers installed in 2022, contribute to the property's long-term value. Each residential unit features hardwood floors, in-unit laundry, quartz countertops, stainless steel appliances, and individual HVAC units, ensuring maximum comfort and appeal for tenants. Take advantage of this exceptional mixed-use property in the heart of Lincoln Park, offering stability, growth potential, and an impressive return on investment for discerning investors.
Full Property Details
Full Property Details for 1003 W Armitage Ave
General
- Price: $2,799,900
- Taxes: $30,363 (2022)
- Status: Active
- Type: Store
- MLS ID: 11925147
- Updated: 11/12/2023
- Added to Site: 174 day(s) ago
Parking
- Total Spaces: 3
- Parking Features: 1 to 5 Spaces
Location
- Area: CHI - Lincoln Park
- County: Cook
- Driving Directions: Sheffield to Armitage, West to 1003
- Location Details: Chicago North
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Central Heat/Individual Controls, Forced Air
Utilities
- Trash: 1423
Structural Information
- Construction: Concrete, Stone
- Exterior Const.: Brick
- Foundation: Concrete Perimeter, Stone
- Stories/Levels: 3
- Square Feet: 5,009
- # of Stores: 1
- Year Built: 1886
- Built Before 1978: Yes
Lot Features
- Lot Size (Sq. Ft.): 2,403
- Lot Dimensions: 25*125
Financial Considerations
- Insurance Fee: $7,326
- Operating Expenses: $43,442
- Other Fee: $1,000
- Assessment Year: 1886
- Tax Amount: $30,363
- Tax Year: 2022
- Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat
- Pays Electric: 276
- Pays Trash: 1423
Disclosures and Reports
- Property ID: 14324030080000
Listed by Citywide Real Estate
Get Pre-Approved Today
Get a Great Insurance Rate
Schools
Schools serving 1003 W Armitage Ave
School District:Chicago Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
2250 N Clifton Ave, Chicago, IL 60614 | PK-8 | 0.4 mi | |
2001 N Orchard St, Chicago, IL 60614 | 9-12 | 0.4 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1003 W Armitage Ave
Date
Details
Price
Change
Source
11/06/2023
Listed
$2,799,900
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1003 W Armitage Ave
1003 W Armitage Avenue, Chicago, IL 60614 (MLS# 11925147) is a Store property. 1003 W Armitage Avenue is currently listed for $2,799,900 and was received on November 06, 2023. Want to learn more about 1003 W Armitage Avenue? Do you have questions about finding other Store real estate for sale in Lincoln Park? You can browse all Lincoln Park real estate or contact a Coldwell Banker agent to request more information.