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$849,900

  • For Sale
  • Active
  • Commercial
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Prime Investment Opportunity in the Heart of Ukrainian Village! Well-maintained mixed-use property located in one of Chicago's most desirable neighborhoods. This income-producing building features a fully leased retail storefront on the ground level and two residential apartments on the 2nd and 3rd floors - both currently rented, offering immediate cash flow. Situated on high-visibility N Western Ave, this property benefits from strong foot and vehicle traffic, making it ideal for long-term investment or future value appreciation. The residential units provide steady rental income, while the commercial space adds diversification to your portfolio. Unbeatable location in vibrant Ukrainian Village, surrounded by restaurants, cafes, shops, and convenient access to public transportation. Perfect for investors seeking a turnkey property in a prime Chicago location!

Full Property Details for 1047 N Western Ave #1

General

  • Price: $849,900
  • Taxes: $16,200 (2024)
  • Status: Active
  • Type: Commercial
  • Source: MRED
  • MLS ID: 12631427
  • Updated: 5/5/2026
  • Added to Site: 23 day(s) ago

Interior

  • Flooring: Wood

Location

  • Area: CHI - West Town
  • County: Cook
  • Township: West Chicago
  • Driving Directions: Western ave between Augusta and Division
  • Location Details: Chicago Southwest

Heating & Cooling

  • Cooling Type: Central Air Conditioning
  • Heating Type: Forced Air

Structural Information

  • Construction: Brick
  • Exterior Const.: Brick
  • Foundation: Concrete Perimeter
  • Sub-Flooring: Wood
  • Stories/Levels: 3
  • Current Bldg. Use: Condominium
  • # of Stores: 1
  • Year Built: 1914
  • Built Before 1978: Yes

Unit Information

  • Units w/Refrigerators: 2
  • Units w/Range/Oven: 3

Lot Features

  • Lot Size (Sq. Ft.): 3,120
  • Lot Dimensions: 25 x 125
  • Frontage: City Street
  • Potential Use: Retail

Financial Considerations

  • Lease Price: $17
  • Insurance Fee: $4,500
  • Assessment Year: 1914
  • Tax Amount: $16,200
  • Tax Year: 2024
  • Tenant Pays: Air Conditioning, Electricity, Heat, Varies by Tenant

Disclosures and Reports

  • Property ID: 17063080020000

Listed by Landmark Realtors

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— 1047 N Western Ave #1 —

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NMLS#: 1598647

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NMLS#: 1598647

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with our affiliated in-house agency

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 1047 N Western Ave #1

School District:Chicago Public School District 299
NameGradesDistance
Chopin Elementary School
2450 West Rice Street, Chicago, IL 60622
PK-80.3 mi
Clemente Community Academy High School
1147 North Western Avenue, Chicago, IL 60622
9-120.1 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1047 N Western Ave #1 Get Price Alerts and Save Property

Date
Details
Price
Change
Source
4/27/2026
Listed
$849,900
137.73%
MLS
11/18/2002
Sold
$357,500
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 1047 N Western Ave #1

Year
Property Taxes
Change
Tax Assessment
Change
2023
$13,121
—
$81,001
31%
2023
$13,121
3%
$62,000
—
2022
$12,752
2%
$62,000
—
2021
$12,468
-1%
$62,000
9%
2020
$12,631
-2%
$56,702
-12%
2019
$12,946
2%
$64,435
—
2018
$12,728
-4%
$64,435
4%
2017
$13,280
7%
$61,688
—
2016
$12,355
9%
$61,688
—
2015
$11,304
16%
$61,688
18%
2014
$9,729
2%
$52,439
—
2013
$9,537
1%
$52,439
—
2012
$9,410
—
$52,439
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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1047 N Western Avenue #1, Chicago, IL 60622 (MLS# 12631427) is a Commercial property. 1047 N Western Avenue #1 is currently listed for $849,900 and was received on April 27, 2026. Want to learn more about 1047 N Western Avenue #1? Do you have questions about finding other Commercial real estate for sale in West Town? You can browse all West Town real estate or contact a Coldwell Banker agent to request more information.

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