5542 West North Avenue

Chicago, IL 60639

$330,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Investment opportunity -- 10.5% cap rate -- in North Austin provides reliable monthly income from two 3-bedroom apartments on Housing Choice Vouchers plus seller is operator of successful ground-level sandwich shop who would like a sale-leaseback. Separate HVAC setup, including individual central air. Tenants pay $1,600 each plus all utilities except water. Ground-level space rents for $1,000 but business and LLC that owns building is controlled by same person. Expenses do not include costs of restaurant...Investment opportunity -- 10.5% cap rate -- in North Austin provides reliable monthly income from two 3-bedroom apartments on Housing Choice Vouchers plus seller is operator of successful ground-level sandwich shop who would like a sale-leaseback. Separate HVAC setup, including individual central air. Tenants pay $1,600 each plus all utilities except water. Ground-level space rents for $1,000 but business and LLC that owns building is controlled by same person. Expenses do not include costs of restaurant operation as they are now paid by owner and would continue to be under sale-leaseback. Full basement. Frontage benefits from 23,100 cars per day per IDOT. Roof replaced two years ago. Brick building at less than $77 per sf! Building should produce 7.6% cash-on-cash return (based on 25% down, 8.5% interest, 25-year amortization).
  1. Listed by Mark Ruda • Coldwell Banker Realty

Property Details for 5542 West North Avenue

Area
CHI - Austin
Zoning
COMMR

Location

Listing Courtesy of Coldwell Banker Realty
Add your commute
LISTING UPDATED: 04/17/2024 12:11 PM

Property Details for 5542 West North Avenue

StatusActive
MLS #11768236
Days on Market369
Taxes$4,114 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1931
Lot Size0.07 AC / 3,125 SF
CountyCook County

Location

Listing Courtesy of Coldwell Banker Realty
Add your commute

Building Information for 5542 West North Avenue

Stories-Residences3Year Built1931Lot Size0.07 AC / 3,125 SF

Payment Calculator

$2,144 per month

30 year fixed, 7.25% Interest

Principal and Interest

$1,801

Property Taxes

$343

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 5542 West North Avenue

General Information
Addtl Parking Information
  • Outdoor Parking: 1-5 Spaces
  • Open Parking Spaces: 3.0
Location and General Information
  • Frontage Type: City Street, Public Road, State Road
  • Geographic Locale: Chicago West
  • Information: 24-Hr Notice Required,Other-See Remarks
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Individual
  • Electric: Circuit Breakers, Service - 0 to 100 Amps
  • Heat/Ventilation: Central Heat/Indiv Controls
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 2
Property/Lot Information
  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 25 X 125
  • Lot Size Square Feet: 3125.0
  • Stories: 3
  • Exterior Building Type: Brick
  • Construction: Brick
  • Fire Protection: None
  • Roof Structure: Flat
  • Foundation Details: Concrete Perimeter
  • Building Area Total: 4292
  • # Of Offices: 0
  • Retail SqFt: 1400
  • # Of Stores: 1
  • Property Sub Type: Mixed Use
Property and Assessments
  • Possible Use: Commercial, Office and Research, Multi-Family, Retail
  • Public Document Count: 0
  • Photos Count: 32
Miscellaneous
  • Location: Mixed Use Area,Public Transport Avail,In City Limits,High Traffic Area
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 3
Income & Expenses
  • Electric Expense: $300.00
  • Fuel Expense: $.00
  • Gross Income: $50,400.00
  • Gross Scheduled Income: $50,400.00
  • Insurance Expense: $7,200.00
  • Electric Expense Source: Owner Projection
  • Expense Year: 2023
  • Total Annual Expense Source: Combination
  • Fuel Expense Source: Owner Projection
  • Insurance Expense Source: Owner Projection
  • Net Operating Income Year: 2023
  • Other Expense Source: Owner Projection
  • Trash Expense Source: Owner Projection
  • Total Monthly Income: 4200
  • Water Expense Source: Owner Projection
  • Net Operating Income: $34,558.00
  • Operating Expense: $15,842.00
  • Other Expense: $.00
  • Trash Expense: $1,920.00
  • Water Sewer Expense: $2,400.00

Property History for 5542 West North 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 5542 West North Avenue

Taxable ValueLand$5,625Additions$41,327Total$46,952
Tax Record2022$9,657 ($805 / month)
Home Facts
Total Finished SqFt1,400 SqFtAbove Grade Finished SqFt1,400 SqFtStories3Lot Size3,125 SqFtStyleStoresYear Built1928CountyCOOKAPN13-33-319-029

Schools near 5542 West North Avenue

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Charter - 9 to 12
Public - 9 to 12
Rating
School
Distance
Young Elementary School
PublicPK to 8

Foreman High School
Public9 to 12

ITW David Speer Academy
Charter9 to 12

Prosser Career Academy High School
Public9 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

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

5542 West North Avenue is a mixed use property for sale in Chicago, IL 60639. This property was listed for sale on April 26, 2023 by Coldwell Banker Realty, it's currently listed at $330,000. This listing's school district is City Of Chicago School District 299. Nearby schools include Young Elementary School, Foreman High School and ITW David Speer Academy. 5542 West North Avenue is a 0-bed, 0-bath, mixed use property built in 1931.

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 Coldwell Banker Realty

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.