1441 West 103rd Street

Chicago, IL 60643

$1,499,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

New price! Come check out this ICONIC mixed-use, value-add 12 unit building in Chicago's incredible East Beverly neighborhood! This all-brick, beautiful building was built in 1904 and contains 6 retail storefronts on the main floor and 6 residential apartments on the 2nd floor. Sitting on busy 103rd street, this property provides retail owners a ton of vehicle and foot traffic to bring in business. Both the apartments and storefronts have been easy to rent quickly with little to no marketing effort....New price! Come check out this ICONIC mixed-use, value-add 12 unit building in Chicago's incredible East Beverly neighborhood! This all-brick, beautiful building was built in 1904 and contains 6 retail storefronts on the main floor and 6 residential apartments on the 2nd floor. Sitting on busy 103rd street, this property provides retail owners a ton of vehicle and foot traffic to bring in business. Both the apartments and storefronts have been easy to rent quickly with little to no marketing effort. The property sits on a giant lot with a massive garage to the South of the main building. This area provides a ton of opportunity to the new buyer potentially for the addition of more units, storage or covered / enclosed garage space to generate additional revenue. Rents are currently under market with plenty of room for increases with efficient management. The back of the building is also currently used as a small gathering spot for the tenants to relax, play and / or bbq. All tenants have central HVAC for heating and cooling which was upgraded in the early 2000s. Roofs have been resealed in the past 5 years. Over a dozen parking spots in the rear of the building as well. Currently priced at a 7.75 CAP but with better management and getting rents to market this could easily be a 9+ CAP building. This property has unlimited potential and upside with the right plan. Schedule a showing today!
  1. Listed by Andrew Dorazio • Fitzgerald Real Estate Inc.

Property Details for 1441 West 103rd Street

Area
CHI - Beverly
Township
Lake

Location

Listing Courtesy of Fitzgerald Real Estate Inc.
Add your commute
LISTING UPDATED: 04/23/2024 08:17 AM

Property Details for 1441 West 103rd Street

StatusActive
MLS #11775757
Days on Market361
Taxes$20,811 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1904
Lot Size0.67 AC / 29,246 SF
CountyCook County

Location

Listing Courtesy of Fitzgerald Real Estate Inc.
Add your commute

Building Information for 1441 West 103rd Street

Stories-Residences12Year Built1904Lot Size0.67 AC / 29,246 SF

Payment Calculator

$9,915 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,181

Property Taxes

$1,734

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1441 West 103rd Street

General Information
Addtl Parking Information
  • Outdoor Parking: 6-12 Spaces
  • Open Parking Spaces: 12.0
Location and General Information
  • Geographic Locale: Chicago South
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Air Conditioning: Central Air
  • Electric: Circuit Breakers, Separate Meters, Service - 101 to 200 Amps
  • Heat/Ventilation: Forced Air,Gas
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 6
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 29246
  • Lot Size Square Feet: 29246.0
  • Stories: 2
  • Construction: Brick
  • Fire Protection: Fire Extinguisher/s,Carbon Monoxide Detector(s)
  • Roof Structure: Flat
  • # Of Offices: 0
  • # Of Stores: 6
  • Property Sub Type: Mixed Use
Property and Assessments
  • Public Document Count: 1
  • Document Date: 2024-01-04T04:27:12
  • Photos Count: 26
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 12
Income & Expenses
  • Electric Expense: $1,300.00
  • Fuel Expense: $2,250.00
  • Gross Income: $161,760.00
  • Gross Scheduled Income: $161,760.00
  • Insurance Expense: $4,500.00
  • Electric Expense Source: Actual
  • Expense Year: 2022
  • Total Annual Expense Source: Combination
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Actual
  • Net Operating Income Year: 2022
  • Other Expense Source: Owner Projection
  • Trash Expense Source: Actual
  • Total Monthly Income: 13480
  • Water Expense Source: Actual
  • Net Operating Income: $116,107.00
  • Operating Expense: $45,653.00
  • Other Expense: $3,600.00
  • Trash Expense: $2,375.00
  • Water Sewer Expense: $2,800.00

Property History for 1441 West 103rd Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 1441 West 103rd Street

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 7 to 12
Charter - K to 2
Charter - 3 to 12
Rating
School
Distance
Morgan Park High School
Public7 to 12

CICS Loomis
CharterK to 2

CICS Longwood
Charter3 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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1441 West 103rd Street is a mixed use property for sale in Chicago, IL 60643. This property was listed for sale on May 5, 2023 by Fitzgerald Real Estate Inc., it's currently listed at $1,499,000. This listing's school district is City Of Chicago School District 299. Nearby schools include Barnard Elementary Comp Math & Science Center, Morgan Park High School and CICS Loomis. 1441 West 103rd Street is a 0-bed, 0-bath, mixed use property built in 1904.

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 Fitzgerald Real Estate Inc.

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.