Bought with Nick Oosting of Listing Leaders Northwest
$615,000
$775,000
20.6%For more information regarding the value of a property, please contact us for a free consultation.
3229 Commercial Avenue South Chicago Heights, IL 60411
Key Details
Sold Price $615,000
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 12513857
Sold Date 03/18/26
Year Built 1969
Annual Tax Amount $9,910
Tax Year 2023
Lot Dimensions 50x125
Property Sub-Type Multi Family 5+
Property Description
Don't miss this incredible fully leased investment opportunity! This hard to find 7 unit building is over an 8 cap at the list price. No deferred maintenance and below market rents combine to create tremendous value add potential. With seven total units rent increases to market value and further increases over time will have an exponential effect on value. All of the apartments are desirable 2 bedroom units with a spacious family room. Coin op laundry and storage are available in the basement. One apartment has just been updated with quartz counter tops, new appliances and bathroom fixtures (rented immediately!). Other updates include new windows, new appliances, new exterior lighting and the fire safety system has been updated. New 10 year smoke and CO detectors were just installed. Low to no vacancy history. Restaurants, national retailers and the Jewel grocery store are all within walking distance make renting apartments a breeze. There are 7 onsite parking spaces and unrestricted on street parking. Don't wait, opportunities like this don't come often!
Location
State IL
County Cook
Zoning MULTI
Rooms
Basement Unfinished
Interior
Fireplace N
Exterior
View Y/N true
Building
Structure Type Brick
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