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$999,500
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Property Description
Don't let the exterior fool you! This exceptional mixed-use property was extensively renovated and expanded with a brand-new second floor completed in 2022. The main level features six fully leased office suites, two bathrooms, a party room, and an attached 2.5-car garage, providing immediate income. The second floor offers two condo-quality residential units, including a spacious 3-bedroom, 2-bath unit with an open-concept floor plan, quartz countertops, full-height backsplash, large island, luxurious primary suite with a walk-in shower and double vanity, generously sized bedrooms, and in-unit laundry. The second unit is a beautifully finished 1-bedroom, 1-bath with quartz countertops, in-unit laundry, and the potential to add a rooftop deck over the garage. Additional improvements include new steel front and rear staircases, new plumbing, new electrical, and numerous other updates. All renovations were fully permitted. The commercial spaces are fully leased, while the upper residential units are currently owner occupied, making this an outstanding opportunity for investors or owner-occupants seeking a turnkey, income-producing property. Financials are uploaded
Full Property Details
Full Property Details for 2721 W Peterson Ave
General
- Price: $999,500
- Taxes: $7,989 (2024)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12717389
Interior
- Interior Features: Common Meeting Room(s), Multi-Tenant
Additional Information
- Security/Safety: Other
Location
- Area: CHI - West Ridge
- County: Cook
- Township: Jefferson
- Driving Directions: Peterson Ave (6000N) between Western Ave and California Ave
- Location Details: Chicago North
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Central Building Heat, Forced Air, Gas
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Foundation: Concrete Perimeter
- Stories/Levels: 1
- Square Feet: 5,500
- Year Built: 1971
- Built Before 1978: Yes
Unit Information
- # Tenants: 8
- Units w/Refrigerators: 2
- Units w/Range/Oven: 2
- # Dryers: 2
Lot Features
- Lot Size (Sq. Ft.): 3,100
- Lot Dimensions: 25 x 124
- Frontage: City Street
- Zoning: COMMR
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Insurance Fee: $5,000
- Operating Expenses: $22,213
- Security Deposit: Other
- Assessment Year: 1971
- Tax Amount: $7,989
- Tax Year: 2024
- Tenant Pays: Varies by Tenant
Disclosures and Reports
- Property ID: 13014010400000
Listed by Baird & Warner
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Schools
Schools serving 2721 W Peterson Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Jamieson Elementary School 5650 North Mozart Street, Chicago, IL 60659 | K-8 | 0.5 mi |
Mather High School 5835 North Lincoln Avenue, Chicago, IL 60659 | 9-12 | 0.2 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Tax History
Tax History for 2721 W Peterson Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$7,989
—
$56,711
50%
2023
$7,989
-54%
$37,863
-56%
2022
$17,541
71%
$85,283
67%
2021
$10,256
-4%
$51,000
6%
2020
$10,679
11%
$47,938
—
2019
$9,631
8%
$47,938
7%
2018
$8,889
-8%
$45,000
—
2017
$9,687
41%
$45,000
31%
2016
$6,887
90%
$34,384
73%
2015
$3,633
-32%
$19,828
-31%
2014
$5,334
-62%
$28,750
-62%
2013
$13,937
-8%
$76,629
-9%
2012
$15,186
—
$84,629
—
Disclaimer: Historical tax 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 2721 W Peterson Ave
2721 W Peterson Avenue, Chicago, IL 60659 (MLS# 12717389) is a Commercial property. 2721 W Peterson Avenue is currently listed for $999,500 and was received on August 03, 2026. Want to learn more about 2721 W Peterson Avenue? Do you have questions about finding other Commercial real estate for sale in West Ridge? You can browse all West Ridge real estate or contact a Coldwell Banker agent to request more information.

