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5542 W North Avenue, Chicago, IL 60639
$330,000
5542 W North Avenue, Chicago, IL 60639View this property at 5542 W North Avenue, Chicago, IL 60639
5542 W North AvenueChicagoIL60639
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Property Description
Investment opportunity -- 10.5% cap rate -- in North Austin provides reliable monthly income from two 3-bedroom apartments on Housing Choice Vouchers plus seller is operator of successful ground-level sandwich shop who would like a sale-leaseback. Separate HVAC setup, including individual central air. Tenants pay $1,600 each plus all utilities except water. Ground-level space rents for $1,000 but business and LLC that owns building is controlled by same person. Expenses do not include costs of restaurant operation as they are now paid by owner and would continue to be under sale-leaseback. Full basement. Frontage benefits from 23,100 cars per day per IDOT. Roof replaced two years ago. Brick building at less than $77 per sf! Building should produce 7.6% cash-on-cash return (based on 25% down, 8.5% interest, 25-year amortization).
Full Property Details
Full Property Details for 5542 W North Ave
General
- Price: $330,000
- Taxes: $4,114 (2022)
- Status: Active
- Type: Commercial
- MLS ID: 11768236
- Updated: 3/29/2024
- Added to Site: 379 day(s) ago
Parking
- Parking Features: 1 to 5 Spaces
Location
- Area: CHI - Austin
- County: Cook
- Driving Directions: 1/2 block east of Central
- Location Details: Chicago West, Mixed-Use Area, Public Transport Avail, In City Limits, High Traffic Area
Heating & Cooling
- Cooling Type: Central Individual
- Heating Type: Central Heat/Individual Controls
Utilities
- Trash: 1920
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Foundation: Concrete Perimeter
- Stories/Levels: 3
- Square Feet: 4,292
- # of Stores: 1
- Year Built: 1931
- Built Before 1978: Yes
Unit Information
- # Tenants: 2
Lot Features
- Lot Size (Sq. Ft.): 3,125
- Lot Dimensions: 25 x 125
- Frontage: City Street, Public Road, State Road
- Potential Use: Commercial, Office and Research, Multi-Family, Retail
- Zoning: COMMR
Financial Considerations
- Insurance Fee: $7,200
- Operating Expenses: $15,842
- Assessment Year: 1931
- Tax Amount: $4,114
- Tax Year: 2022
- Tenant Pays: Air Conditioning, Electricity, Heat
- Pays Electric: 300
- Pays Trash: 1920
Disclosures and Reports
- Property ID: 13333190300000
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Schools
Schools serving 5542 W North Ave
School District:Chicago Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
1434 N Parkside Ave, Chicago, IL 60651 | PK-8 | 0.3 mi | |
3235 N Leclaire Ave, Chicago, IL 60641 | 9-12 | 2.1 mi |
Disclaimer: School ratings provided by
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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 5542 W North Ave
Date
Details
Price
Change
Source
9/08/2023
Price Reduced
$330,000
-17.5%
MLS
4/26/2023
Listed
$400,000
14.29%
MLS
5/24/2013
Sold
$350,000
—
Public Record
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 5542 W North Ave
Year
Property Taxes
Change
Tax Assessment
Change
2022
$9,657
2%
$46,952
—
2021
$9,442
-36%
$46,952
-29%
2020
$14,804
11%
$66,456
—
2019
$13,352
2%
$66,456
—
2018
$13,127
256%
$66,456
288%
2017
$3,691
7%
$17,144
—
2016
$3,434
7%
$17,144
-2%
2015
$3,207
-74%
$17,500
-73%
2014
$12,252
2%
$66,036
—
2013
$12,010
290%
$66,036
285%
2012
$3,076
—
$17,144
—
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 5542 W North Ave
5542 W North Avenue, Chicago, IL 60639 (MLS# 11768236) is a Commercial property. 5542 W North Avenue is currently listed for $330,000 and was received on April 26, 2023. This property is listed by Mark Ruda from our Oak Park Office.Want to learn more about 5542 W North Avenue? Do you have questions about finding other Commercial real estate for sale in Austin? You can browse all Austin real estate or contact a Coldwell Banker agent to request more information.