6943 North Western Avenue

Chicago, IL 60645

$1,800,000
Price
9,900 / 0.23
Lot Size / Acres

Description

Excited to offer the unique redevelopment opportunity located at 6943 N. Western Ave. in Chicago's vibrant West District neighborhood. This property spans 9,975 square feet and is zoned C1-2, providing various commercial development possibilities. Property Details: Location: 6943 N. Western Ave. is situated in a bustling commercial corridor, offering great visibility and accessibility. The surrounding neighborhood is a blend of residential and commercial spaces, ensuring a steady flow of potential...Excited to offer the unique redevelopment opportunity located at 6943 N. Western Ave. in Chicago's vibrant West District neighborhood. This property spans 9,975 square feet and is zoned C1-2, providing various commercial development possibilities. Property Details: Location: 6943 N. Western Ave. is situated in a bustling commercial corridor, offering great visibility and accessibility. The surrounding neighborhood is a blend of residential and commercial spaces, ensuring a steady flow of potential clients and customers. Zoning: The C1-2 zoning allows for a diverse range of potential business uses, making the site versatile for various development visions. Land Area: The property has 9,975 square feet of prime land, offering ample space for creative redevelopment projects. Cell Tower Lease: Lease Terms: The cell tower lease, located on the southeast portion of the property, provides a reliable revenue stream. It began in January 1997 and was renewed in May 2015 for 28 years. As of June 2023, the lease has 20 years remaining, ensuring a stable and long-term source of income. Current Rent: The current annual rent is $39,675. According to the lease terms, the rent is upgraded every five years, with the next increase scheduled for June 2028. At that point, the rent will increase to $45,626 per year, providing a consistent and growing income for the new owner. Investment Opportunity: Land Purchase Price: The property is available for a competitive price of $900,000, offering significant potential for a high return on investment through strategic redevelopment. Cell Tower Lease Purchase Price: The cell tower lease can be acquired separately for an additional $900,000. This allows investors to secure an immediate revenue stream with predictable increases in the future. Overall, 6943 N. Western Ave. is a prime investment opportunity for savvy developers and investors. It offers versatility, a strategic location, and a consistent source of revenue through the existing cell tower lease.
  1. Listed by Anthony Hardy • Keller Williams ONEChicago
  2. Listed by Johnathan Sloat • Keller Williams ONEChicago

Property Details for 6943 North Western Avenue

Area
CHI - West Ridge
Township
Rogers Park
Ownership
Fee Simple
Num Of Parking Spaces
0.0

Location

Listing Courtesy of Keller Williams ONEChicago
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LISTING UPDATED: 05/13/2024 04:20 PM

Property Details for 6943 North Western Avenue

StatusActive
MLS #12049149
Days on Market21
Taxes$6,693 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLand
Year Built-
Lot Size0.23 AC
CountyCook County

Location

Listing Courtesy of Keller Williams ONEChicago
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Building Information for 6943 North Western Avenue

Lot Size0.23 AC

Payment Calculator

$10,381 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,823

Property Taxes

$558

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 6943 North Western Avenue

General Information
School Information
  • Elementary School District: 130
  • High School District: 130
  • Middle Or Junior School District: 130
Location and General Information
  • Frontage Length: 75
  • Frontage Type: City Street
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Basement Description: None
  • Basement Bathrooms: No
  • Num of Baths: 0.0
Exterior Features
  • Backup Package: No
Utilities / Equipment
  • Utilities: Electric to Site, Gas to Site, Sanitary Sewer, Water to Site
Property/Lot Information
  • Lot Size: Less Than .25 Acre
  • Lot Dimensions: 75X132
  • Buildings on Land: Yes
  • Waterfront: No
  • General Information: None
  • North Coordinate: 42
  • South Coordinate: 0
  • East Coordinate: 0
  • West Coordinate: 87
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 9
  • OpenHouse Count: 0
Miscellaneous
  • Current Use: Single Family
  • Road Surface: Asphalt
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No

Property History for 6943 North Western Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 6943 North Western Avenue

Taxable ValueLand$17,737Additions$14,804Total$32,541
Tax Record2022$6,693 ($558 / month)
Home Facts
Total Finished SqFt1,227 SqFtAbove Grade Finished SqFt1,227 SqFtStories1Lot Size9,975 SqFtStyleService StationYear Built1895CountyCOOKAPN11-31-113-015

Schools near 6943 North Western Avenue

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Charter - K to 12
Public - 9 to 12
Public - K to 7
Charter - 6 to 12
Rating
School
Distance
Acero Chtr Sor Juana Ines de la
CharterK to 12

Sullivan High School
Public9 to 12

Decatur Classical Elementary School
PublicK to 7

Chicago Math & Sci Elementary Charter
Charter6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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6943 North Western Avenue is a 0.23 ac of land for sale in Chicago, IL 60645. This property was listed for sale on May 7, 2024 by Keller Williams ONEChicago, it's currently listed at $1,800,000. This listing's school district is City Of Chicago School District 299. Nearby schools include Acero Chtr Sor Juana Ines de la, Sullivan High School and Decatur Classical Elementary School. 6943 North Western Avenue is a 0-bed, 0-bath, 0.23 ac of land on a 9,900 sq. ft. / 0.23 acres lot.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams ONEChicago

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 05/13/2024 04:20 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.