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5101 S Michigan Avenue, Chicago, IL 60615
$1,200,000
5101 S Michigan Avenue, Chicago, IL 60615View this property at 5101 S Michigan Avenue, Chicago, IL 60615
5101 S Michigan AvenueChicagoIL60615
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Property Description
Washington Park-7 Stores (4 Restaurants, 3 stores) High quality Washington Park Retail Center with 4 restaurants & 3 stores. Two blocks from the 51st Street CTA Green Line Station at the intersection of 51st & S Michigan. Excellent visibility corner lot with popular restaurants and good traffic. 9 parking spaces with room for more. 16,257 square foot lot zoned B3-3, approximately 7,833 square foot building, built in 2005. Annual PGI of $182,507 & value-add potential. $2.3 Billion Annual Consumer Spending Ideal post-covid restaurant layouts, primarily take-out with limited dine-in & large kitchens with hoods. Single story building, amply plumbed for additional light food service &/or easily install hoods. 3-mile radius population of 281,310. Average household income of $60,288 & annual consumer spending of $2.3 Billion. Average retail rent is $20.64NNN with a vacancy rate of 4.9%.
Full Property Details
Full Property Details for 5101 S Michigan Ave
General
- Price: $1,200,000
- Taxes: $43,492 (2022)
- Status: Active
- Type: Commercial
- MLS ID: 12011642
- Updated: 3/28/2024
- Added to Site: 42 day(s) ago
Additional Information
- Security/Safety: Other
Location
- Area: CHI - Washington Park
- County: Cook
- Driving Directions: 90 South to 51st. 51st East. 101 E 51st on Right.
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Central Heat/Individual Controls
Structural Information
- Stories/Levels: 1
- Square Feet: 7,833
- Year Built: 2005
Lot Features
- Lot Size (Sq. Ft.): 16,257
- Lot Dimensions: 160 x 100
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Security Deposit: Other
- Assessment Year: 2005
- Tax Amount: $43,492
- Tax Year: 2022
- Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat, Janitorial Service, Taxes, Insurance, Sewer, Varies by Tenant
Disclosures and Reports
- Property ID: 20103020380000
Listed by Twins Realty LLC
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Schools
Schools serving 5101 S Michigan Ave
School District:Chicago Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
5356 S King Dr, Chicago, IL 60615 | PK-8 | 0.4 mi | |
244 E Pershing Rd, Chicago, IL 60653 | 9-12 | 1.6 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 5101 S Michigan Ave
Date
Details
Price
Change
Source
3/22/2024
Listed
$1,200,000
—
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 5101 S Michigan Ave
Year
Property Taxes
Change
Tax Assessment
Change
2022
$43,492
-24%
$179,419
-25%
2021
$56,912
25%
$238,381
35%
2020
$45,514
9%
$176,920
—
2019
$41,912
34%
$176,920
31%
2018
$31,196
-27%
$135,213
-22%
2017
$42,840
451%
$173,069
412%
2016
$7,768
-73%
$33,830
-75%
2015
$28,688
-23%
$135,945
-21%
2014
$37,051
2%
$173,078
—
2013
$36,381
39%
$173,078
38%
2012
$26,107
—
$125,578
—
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 5101 S Michigan Ave
5101 S Michigan Avenue, Chicago, IL 60615 (MLS# 12011642) is a Commercial property. 5101 S Michigan Avenue is currently listed for $1,200,000 and was received on March 22, 2024. Want to learn more about 5101 S Michigan Avenue? Do you have questions about finding other Commercial real estate for sale in Washington Park? You can browse all Washington Park real estate or contact a Coldwell Banker agent to request more information.