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18114 Martin Avenue, Homewood, IL 60430
$3,500,000
18114 Martin Avenue, Homewood, IL 60430View this property at 18114 Martin Avenue, Homewood, IL 60430
18114 Martin AvenueHomewoodIL60430
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Property Description
Opportunity is knocking. Original owners are parting with this fabulous brick, mixed-use building with 16 residential rentals (15 rented, 1 being readied) and 10 commercial rentals (10 rented). The property sits in the middle of Homewood's new Transit-Oriented Development Plan. Superb location with all conveniences right in the neighborhood: New Metra Station, restaurants, shopping, banking, post office, etc. A New Casino is being built in Homewood, Wind Creek Chicago Southland. The building has 25 gas and water meters with 26 electric meters. Each residential unit has separate furnaces and central a/c units. The commercial units have separate furnaces and central air units for each 1050 asq of office space. The building was built as condos with separate PINs (24) and none were ever sold. There is no separate pin for the parking lot. No HOA was ever established and no credit will be given. Selling all as one entity. Original owners have kept the rents very low for long-term tenants. If rents were at market value, gross rental income would be over $440k. Tenants pay all utilities: gas, electricity, and water. This includes the heat and air conditioning. The property has a private parking lot for 45+ cars with 2 being handicap spaces. Each floor has approximately 9,425 sq ft plus a full basement. The basement has a laundry room (2 washers, 3 dryers), half bath, storage for commercial and residential spaces, community room, several building storage rooms, and commercial space included with street level unit. See spec sheet and Homewood's TOD map under additional information. The property has multiple addresses ranging from 18106 - 18124. Do not disturb the tenants. Do not enter the commercial spaces.
Full Property Details
Full Property Details for 18114 Martin Ave
General
- Price: $3,500,000
- Taxes: $102,318 (2022)
- Status: Active
- Type: Commercial
- MLS ID: 12058359
- Updated: 5/28/2024
- Added to Site: 16 day(s) ago
Interior
- Interior Features: Multi-Tenant, Skylight(s), Basement, Laundry Room
- Flooring: Varies
Additional Information
- Security/Safety: Alarm on Site, Fire Extinguisher(s), Smoke or Fire Protectors, Sprinklers (Wet)
Parking
- Parking Features: 31 to 50 Spaces, Open, Paved, Private Lot
Location
- Area: Homewood
- County: Cook
- Township: Thornton
- Driving Directions: Dixie to Kroner, West to Martin. Parking lot in the rear of the building. Martin is a one-way going South. Ridge Rd to Martin, South to Building. Harwood Ave to Hickory or Kroner, East to the parking lot. Property on the Southwest corner of Martin & Kroner or the Northwest corner of Martin and Hickory.
- Location Details: South Suburban, Central Business District
Heating & Cooling
- Cooling Type: Central Individual
- Heating Type: Forced Air, Gas
Utilities
- Trash: 4800
- Onsite: Electricity to Site, Gas to Site, Sanitary Sewer, Municipal Water, Water to Site
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Foundation: Concrete Perimeter
- Roof: Reflective Coating
- Sub-Flooring: Varies
- Stories/Levels: 3
- Square Feet: 28,275
- Current Bldg. Use: Commercial
- Year Built: 1982
Unit Information
- Units w/Refrigerators: 16
- Units w/Range/Oven: 16
- # Dryers: 2
Lot Features
- Lot Size (Sq. Ft.): 30,000
- Lot Dimensions: 150 x 200
- Frontage: Public Road
- Drainage: Storm Sewers
- Potential Use: Commercial
- Zoning: COMMR
Financial Considerations
- Insurance Fee: $7,800
- Operating Expenses: $33,480
- Other Fee: $14,500
- Security Deposit: Alarm On Site, Fire Extinguisher/s, Smoke or Fire Protectors, Sprinklers-Wet
- Assessment Year: 1982
- Tax Amount: $102,318
- Tax Year: 2022
- Tenant Pays: Air Conditioning, Electricity, Heat, Sewer
- Pays Electric: 1824
- Pays Trash: 4800
Disclosures and Reports
- Documents Avail.: Declarations/Bylaws, Leases, Floor Plan
- Property ID: 29313130310000
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Schools
Schools serving 18114 Martin Ave
School Districts:Homewood Flossmoor Community High School District 233, Homewood School District 153
Rating | Name | Grades | Distance |
---|---|---|---|
Willow School
1804 Willow Rd, Homewood, IL 60430 | PK-2 | 0.6 mi | |
Millennium School
17830 84th Ave, Tinley Park, IL 60487 | 5-6 | 1.3 mi | |
1300 190th St, Homewood, IL 60430 | 3-4 | 1.5 mi | |
18220 Morgan St, Homewood, IL 60430 | 7-8 | 1.3 mi | |
999 Kedzie Ave, Flossmoor, IL 60422 | 9-12 | 1.7 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 18114 Martin Ave
Date
Details
Price
Change
Source
5/16/2024
Listed
$3,500,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 18114 Martin Ave
18114 Martin Avenue, Homewood, IL 60430 (MLS# 12058359) is a Commercial property. 18114 Martin Avenue is currently listed for $3,500,000 and was received on May 16, 2024. Want to learn more about 18114 Martin Avenue? Do you have questions about finding other Commercial real estate for sale in Homewood? You can browse all Homewood real estate or contact a Coldwell Banker agent to request more information.