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    1556 N La Salle Drive

    Chicago, IL 60610
    • $2,599,999
    • STATUS: Active
    • ON SITE: 48 days
    • MLS #: 11009127
    UPDATED: 46 min ago
    $2,599,999
    • 5
      BEDS
    • N/A
      ACRES
    • 4
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1906
    County:

    School Ratings & Info

    School District:
    299

    Description

    CASH COW!!! THERE IS A $6,200 / PER MONTH SIGN ADVERTISEMENT ON THE SIDE OF THE BUILDING THAT HAS A NEW LONG TERM LEASE!!!!! 1 Billboard, 1 Commercial Property, 3 Residential units. This property is a cash cow and can generate approximately $382,000 in annual revenue if the residential units are converted to Airbnb or short-term rentals. Please ask listing agent for the forecasted financial statements. GREAT INVESTMENT! 16% cash on cash return, 10%+ = cap rate. Listing Agent specializes in Airbnb / short-term rentals in the City of Chicago. Just ask for more information. The subject property is comprised of a +/- 2,500 SF land site improved with a +/- 6,300 SF 2.5-story, brick, mixed-use (commercial and residential) building in the Old Town neighborhood of Chicago. The ground/garden level of the subject is comprised of a rented commercial storefront unit totaling approximately 2,000 SF. The first floor is built out for an office unit in the front and residential apartment unit in the rear, with each unit averaging approximately 1,000 SF. The top floor consists of a single, large residential apartment unit that spans the entire floor and measures approximately 2,000 SF. The site is zoned B3-5, Community Shopping District.

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    © 2021 Midwest Real Estate Data LLC. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Carolyn and Hillary Homes | Charles Rutenberg Realty. Based on information submitted to the MRED as of 2021-04-22T20:53:23.173 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    1556 N La Salle Drive Chicago, IL 60610

    • Price: $2,599,999
    • Status: Active
    • Updated: 46 min ago
    • MLS #: 11009127
    5
    Beds
    4
    Baths
    0
    ½ Baths
    N/A
    Acres
    1906
    Built
    Neighborhood:
    Chi - Near North Side
    County:
    Cook
    Area:
    Chi - Near North Side
    School District:
    299
    Property Description
    CASH COW!!! THERE IS A $6,200 / PER MONTH SIGN ADVERTISEMENT ON THE SIDE OF THE BUILDING THAT HAS A NEW LONG TERM LEASE!!!!! 1 Billboard, 1 Commercial Property, 3 Residential units. This property is a cash cow and can generate approximately $382,000 in annual revenue if the residential units are converted to Airbnb or short-term rentals. Please ask listing agent for the forecasted financial statements. GREAT INVESTMENT! 16% cash on cash return, 10%+ = cap rate. Listing Agent specializes in Airbnb / short-term rentals in the City of Chicago. Just ask for more information. The subject property is comprised of a +/- 2,500 SF land site improved with a +/- 6,300 SF 2.5-story, brick, mixed-use (commercial and residential) building in the Old Town neighborhood of Chicago. The ground/garden level of the subject is comprised of a rented commercial storefront unit totaling approximately 2,000 SF. The first floor is built out for an office unit in the front and residential apartment unit in the rear, with each unit averaging approximately 1,000 SF. The top floor consists of a single, large residential apartment unit that spans the entire floor and measures approximately 2,000 SF. The site is zoned B3-5, Community Shopping District.
    Exterior Features

    Exterior Building Type Brick Number Of Cars 0 Parking None Unit1 Floor Level G Unit2 Floor Level 1 Unit3 Floor Level 1 Unit4 Floor Level 2 Waterfront YN No

    Interior Features

    3 Bedroom Unit In Building No Appliances Features Unit1 StoveRefrigeratorWasherDryerCentral Air Conditioner Appliances Features Unit2 StoveRefrigeratorDishwasherMicrowaveCentral Air Conditioner Appliances Features Unit3 StoveRefrigeratorDishwasherCentral Air Conditioner Appliances Features Unit4 StoveRefrigeratorDishwasherMicrowaveCentral Air Conditioner Basement None Basement Bathrooms YN No Basement Description None Bathrooms Total Integer 7 Bedrooms Below Grade 0 Bedrooms Possible 5 Full Baths In Building 4 Full Baths In Unit1 0 Full Baths In Unit2 1 Full Baths In Unit3 1 Full Baths In Unit4 2 Half Baths In Building 3 Half Baths In Unit1 1 Half Baths In Unit2 0 Half Baths In Unit3 1 Half Baths In Unit4 1 Heating Forced Air Number Of Bedrooms Unit1 1 Number Of Bedrooms Unit2 1 Number Of Bedrooms Unit3 1 Number Of Bedrooms Unit4 2 Number Of Rooms Unit1 4 Number Of Rooms Unit2 3 Number Of Rooms Unit3 4 Number Of Rooms Unit4 6 Rooms Total 17

    Property Features

    Age Description 100+ Years Built Before1978 YN Yes Corporate Limits Chicago General Information None Gross Income 380000 Lease Exp Date Mo Yr Unit1 None Lease Exp Date Mo Yr Unit2 None Lease Exp Date Mo Yr Unit3 None Lease Exp Date Mo Yr Unit4 None Lot Size Less Than .25 Acre Lot Size Dimensions 2500 New Construction YN No Property Sub Type 3 Flat Rebuilt YN No Rehab Year 1996 Rehab YN Yes Security Deposit Unit1 0 Security Deposit Unit2 0 Security Deposit Unit3 0 Security Deposit Unit4 0 Sewer Public Sewer Special Assessments N Special Listing Conditions None Special Service Area N Tax Annual Amount 17145.83 Tax Year 2019 Tenant Pays Unit1 All Tenant Pays Unit2 All Tenant Pays Unit3 All Tenant Pays Unit4 All Total Rental Income 380000 Unit1 Rent 0 Unit2 Rent 0 Unit3 Rent 0 Unit4 Rent 0 Water Source Public Zoning Commr

    Listing information © 2021 Midwest Real Estate Data LLC.
    Listing provided courtesy of Tbfs Investments Llc-Realty.


    © 2021 Midwest Real Estate Data LLC. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Carolyn and Hillary Homes | Charles Rutenberg Realty. Based on information submitted to the MRED as of 2021-04-22T20:53:23.173 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
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