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3400 W Lake Street, Chicago, IL 60624
$650,000
3400 W Lake Street, Chicago, IL 60624View this property at 3400 W Lake Street, Chicago, IL 60624
3400 W Lake StreetChicagoIL60624
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Property Description
Exceptional investment opportunity awaits in East Garfield Park, strategically positioned just steps away from the Conservatory and the Kedzie Green Line. This meticulously maintained 5-unit Mixed Use building boasts a diverse portfolio of four commercial units alongside one residential unit, all currently leased. The commercial spaces cater to a variety of needs, featuring a beauty salon, a barbershop, a religious institution, and an automobile tint shop. With the beauty salon secured on a lease until August 2028 and the remaining units on a month-to-month basis, this investment offers both stability and potential for future optimization. Benefiting from M1-3 zoning and a clean bill of health with no current building violations, this property has undergone extensive recent renovations, including plumbing updates, reinforced basement supports, tuckpointing, flashing enhancements, and electrical improvements. Moreover, the investment is bolstered by a streamlined utility structure, with tenants responsible for all expenses except water/sewer/trash, which are managed through two separate water bills. Positioned directly across from the scenic Garfield Park and boasting easy access to transportation hubs such as the Kedzie Green Line and Metra UP-W, as well as proximity to the 290 expressway, this property offers investors an unparalleled blend of convenience and potential for long-term growth. With its prime location near the iconic United Center and a mere 10-minute drive to Downtown, this investment opportunity promises lucrative returns in a rapidly evolving neighborhood ripe with potential.
Full Property Details
Full Property Details for 3400 W Lake St
General
- Price: $650,000
- Taxes: $6,397 (2022)
- Status: Active
- Type: Commercial
- MLS ID: 12024163
- Updated: 4/14/2024
- Added to Site: 25 day(s) ago
Interior
- Flooring: Carpet, Wood
Additional Information
- Security/Safety: Other
Location
- Area: CHI - East Garfield Park
- County: Cook
- Driving Directions: Lake Street & Homan Ave
- Location Details: Chicago West, Corner
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Forced Air, Gas
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Foundation: Concrete Perimeter
- Loading: Drive-In Doors
- Sub-Flooring: Carpet, Wood
- Stories/Levels: 2
- Square Feet: 6,100
- Current Bldg. Use: Commercial
- Year Built: 1891
- Built Before 1978: Yes
Unit Information
- # Tenants: 5
Lot Features
- Lot Size (Sq. Ft.): 5,689
- Lot Dimensions: 50 x 115
- Frontage: City Street
- Potential Use: Commercial, Condominium, Multi-Family, Retail, Special Use
- Zoning: COMMR
Financial Considerations
- Lease Price: $16
- Insurance Fee: $8,821
- Security Deposit: Other
- Assessment Year: 1891
- Tax Amount: $6,397.71
- Tax Year: 2022
- Tenant Pays: Air Conditioning, Electricity, Heat
Disclosures and Reports
- Property ID: 16114100390000
Listed by Fulton Grace Realty
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Schools
Schools serving 3400 W Lake St
School District:Chicago Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
3151 W Walnut St, Chicago, IL 60612 | PK-8 | 0.3 mi | |
3250 W Adams St, Chicago, IL 60624 | 9-12 | 0.5 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 3400 W Lake St
Date
Details
Price
Change
Source
4/08/2024
Listed
$650,000
—
MLS
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
Tax History for 3400 W Lake St
Year
Property Taxes
Change
Tax Assessment
Change
2022
$6,398
2%
$30,999
—
2021
$6,254
62%
$30,999
79%
2020
$3,868
-2%
$17,307
-12%
2019
$3,965
-8%
$19,667
-9%
2018
$4,290
-10%
$21,649
-2%
2017
$4,751
8%
$21,994
—
2016
$4,405
9%
$21,994
—
2015
$4,030
-3%
$21,994
-1%
2014
$4,139
2%
$22,307
—
2013
$4,057
1%
$22,307
—
2012
$4,003
—
$22,307
—
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 3400 W Lake St
3400 W Lake Street, Chicago, IL 60624 (MLS# 12024163) is a Commercial property. 3400 W Lake Street is currently listed for $650,000 and was received on April 08, 2024. Want to learn more about 3400 W Lake Street? Do you have questions about finding other Commercial real estate for sale in East Garfield Park? You can browse all East Garfield Park real estate or contact a Coldwell Banker agent to request more information.