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5358 W BELMONT AVE Chicago, IL 60641
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Key Details
Sold Price $550,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 10,800 sqft
Price per Sqft $50
MLS Listing ID 12003050
Sold Date 08/20/24
Year Built 1966
Annual Tax Amount $36,572
Tax Year 2021
Lot Dimensions 57 X 125
Property Sub-Type Mixed Use
Property Description
Discover an iconic mixed-use building situated at the bustling intersection of Belmont and Long. Existing tenants include a vibrant dance studio and a prominent insurance company on the 1st floor, ensuring immediate income. With a current occupancy rate of 50%, this prime property offers an excellent opportunity for prospective owners. The available space can be utilized for a variety of purposes, catering to professions such as dentistry, chiropractic services, accounting, legal practices, and more. Seize the chance to customize the space for your own business needs or explore the potential for generating additional income by converting it for alternative uses. The once-used radio station office space can be transformed back into 2 spacious residential apartments, while the office space overlooking Belmont Ave. could be used as additional office space or become a 3rd apartment. Convenient location with easy access to amenities, public transportation, street parking, and a 2-car garage. An investor's dream or an entrepreneur's canvas, this property is brimming with potential. The estimated ARV is $1.4M with $135k annual income. Real estate taxes can be appealed once residential tenants are established. So don't miss out! Cash offers welcome.
Location
State IL
County Cook
Area Chi - Portage Park
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Building
Level or Stories 2
Structure Type Brick
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Bought with Inactive Inactive • Baird & Warner Fox Valley - Geneva