1003 West Armitage Avenue
1003 West Armitage Avenue
$2,799,900
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Description
Don't miss this extraordinary and rare investment opportunity with a 6.86% CAP RATE in the highly sought-after Lincoln Park neighborhood! This fully stabilized, recently gut-renovated mixed-use property offers a premier investment experience, featuring four residential apartments and one retail space. Strategically located on a desirable street, the property boasts a prime position directly across from the Chicago Transit Authority's (CTA) Brown Line L Train Stop at Armitage. With 100% occupancy...Don't miss this extraordinary and rare investment opportunity with a 6.86% CAP RATE in the highly sought-after Lincoln Park neighborhood! This fully stabilized, recently gut-renovated mixed-use property offers a premier investment experience, featuring four residential apartments and one retail space. Strategically located on a desirable street, the property boasts a prime position directly across from the Chicago Transit Authority's (CTA) Brown Line L Train Stop at Armitage. With 100% occupancy and strong rental income, this investment presents the potential for rent increases while keeping operating expenses low. The commercial tenant covers 40% of CAM (including property tax and insurance), while residential tenants pay for utilities (gas and electricity). Significant recent upgrades, such as a new roof and AC condensers installed in 2022, contribute to the property's long-term value. Each residential unit features hardwood floors, in-unit laundry, quartz countertops, stainless steel appliances, and individual HVAC units, ensuring maximum comfort and appeal for tenants. Take advantage of this exceptional mixed-use property in the heart of Lincoln Park, offering stability, growth potential, and an impressive return on investment for discerning investors.
- Listed by Junzhou Cui • Citywide Real Estate
Property Details for 1003 West Armitage Avenue
Area
CHI - Lincoln Park
Num Of Parking Spaces3.0
Location
LISTING UPDATED: 11/12/2023 12:07 AM
Property Details for 1003 West Armitage Avenue
Status | Active |
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MLS # | 11925147 |
Days on Market | 332 |
Taxes | $30,363 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Mixed Use |
MLS Type | Commercial Sale |
Year Built | 1886 |
Lot Size | 0.06 AC / 2,403 SF |
County | Cook County |
Location
Building Information for 1003 West Armitage Avenue
Stories-Residences5Year Built1886Lot Size0.06 AC / 2,403 SF
Payment Calculator
$17,810 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1003 West Armitage Avenue
Property History for 1003 West Armitage Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 1003 West Armitage Avenue
This home is within City Of Chicago School District 299.
Rating | School | Type | Grades | Distance |
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Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Public - | PK to 8 | |||
Charter - | 9 to 12 |
Rating | School | Distance |
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Mayer Elementary School PublicPK to 8 | ||
Lincoln Park High School Public9 to 12 | ||
Newberry Elementary Math & Science Academy PublicPK to 8 | ||
CICS - Quest North Campus Charter9 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.
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