Courtesy of Berkshire Hathaway HomeServices Chicago

862 W Lill Avenue

Chicago, IL, 60614

$2,400,000

$2,400,000
Active Under Contract
Active Under Contract
 - For Sale
property_type
Commercial
calendar
Built 1969
Endless opportunities in the heart of Lincoln Park with 860-862 W Lill Ave. Enjoy a potential 5.6 cap rate in this 8-unit condo deconversion opportunity or start from scratch and develop this double lot (50x125) in a prime location for new construction. Zoned RT-4, this condo association consists of 8 -1 bedroom condos (7 tenants/1 owner occupied generating $138,600 in gross yearly rent). Projected/Stabilazed yearly gross income $177,000. All units have central heat and in-unit washer/dryers. Almost all units sport hardwood floors and dishwashers and have seen recent updates. The residents share 6 exterior parking spaces on first come, first serve basis. Currently a self managed HOA, the association can be dissolved through the sale of the property allowing investors and developers to use their imagination. Financials are available upon request.
MLS® ID:
11388637
Listed:
4/27/22
Updated:
8/15/22
Jameson Sotheby's International Realty
Luke Wojcik

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Cooling
Wall Sleeve, Window Unit(s)

Exterior/Building Features

Lot Size
6,250 ft² lot
Roof
Rubber

Other Property Details

Area Name
CHI - Lincoln Park
Taxes
$31781
Tax Frequency
per YEAR
Garage
No
Parking
N
Parking Total
6.0
View
N
County
Cook
Pool
No
Total Stories
2
Zoning
MULTI

Property History

Date
Event
Price
Value
8/5/22
Active Under Contract
-
-

 

Courtesy of Berkshire Hathaway HomeServices Chicago

The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than Luke Wojcik are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

Based on information submitted to the  MLS GRID for MRED 8/15/22. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

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Data last updated 7:06 PM UTC, 8/15/22

 

 

Jameson Sotheby's International Realty
Luke Wojcik
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