11000 Michigan Avenue

    Chicago, IL 60628
    • $1,800,000
    • STATUS: Active
    • ON SITE: 14 days
    • MLS #: 10509006
    UPDATED: 36 min ago
    $1,800,000
    • 0
      BEDS
    • 0.4
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1927
    County:

    School Ratings & Info

    Description

    Opportunity Zone!!! Opportunity Zone!!!! Here is a great way to invest capital, improve a property, & defer a chunk of income tax until the Federal Income Tax is completely removed. As this property uniquely blends residential, retail, and office space, it offers direct line to transportation and a solid 10.5% cap rate. Through improved management, you can easily take this cap rate over 15%. The 66 Units are comprised of 49 apartments, 10 Offices, & 7 retail street level stores. All apartments & 7 retail spaces have individual heat, the office spaces are heated by the owner which significantly reduces the expenses for a new investor. With this multiunit being historically 90% occupied, it offers new owners a great level of comfort as they turn over units, do improvements, & increase rents. I want to remind you this sits in an Opportunity Zone!!!!

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    © 2019 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 Property Consultants Realty. Based on information submitted to the MRED as of 2019-09-21T20:51:14.18 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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    www.propertyconsultants.com/homes/98716941

    11000 Michigan Avenue Chicago, IL 60628

    • Price: $1,800,000
    • Status: Active
    • Updated: 36 min ago
    • MLS #: 10509006
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.4
    Acres
    1927
    Built
    Neighborhood:
    Chi - Roseland
    County:
    Cook
    Area:
    Chi - Roseland
    Property Description
    Opportunity Zone!!! Opportunity Zone!!!! Here is a great way to invest capital, improve a property, & defer a chunk of income tax until the Federal Income Tax is completely removed. As this property uniquely blends residential, retail, and office space, it offers direct line to transportation and a solid 10.5% cap rate. Through improved management, you can easily take this cap rate over 15%. The 66 Units are comprised of 49 apartments, 10 Offices, & 7 retail street level stores. All apartments & 7 retail spaces have individual heat, the office spaces are heated by the owner which significantly reduces the expenses for a new investor. With this multiunit being historically 90% occupied, it offers new owners a great level of comfort as they turn over units, do improvements, & increase rents. I want to remind you this sits in an Opportunity Zone!!!!
    Exterior Features

    Construction Brick Foundation Concrete Frontage Access City Street Location CornerPublic Transport AvailSpecial Taxing District Lot Dimensions 200X90 Lot Sq Ft 17866 Number Of Parking Spaces 0 Roof Coverings Rubber Roof Structure Flat

    Interior Features

    Air Conditioning Window Unit/S Fire Protection Fire Extinguisher/SSmoke Or Fire Protectors Number Of Bedrooms Type5 0 Number Of Bedrooms Type6 0 Number Of Bedrooms Type7 0 Number Of Bedrooms Unit1 0 Number Of Bedrooms Unit2 1 Number Of Bedrooms Unit3 2 Number Of Bedrooms Unit4 0 Number Of Full Bathrooms Type1 1 Number Of Full Bathrooms Type2 1 Number Of Full Bathrooms Type3 1 Number Of Full Bathrooms Type4 1 Number Of Full Bathrooms Type5 1 Number Of Rooms Unit Five 2 Number Of Rooms Unit Four 2 Number Of Rooms Unit Six 0 Number Of Rooms Unit1 3 Number Of Rooms Unit2 3 Number Of Rooms Unit3 4 Number Of Rooms Unit7 0 Number Of Stories 4 Number Of Units Apt Type1 22 Number Of Units Apt Type2 23 Number Of Units Apt Type3 4 Number Of Units Apt Type4 7 Number Of Units Apt Type5 10 Number Of Units Apt Type6 0 Number Of Units Apt Type7 0 Repairs Decor Expense 6992

    Property Features

    Age Older Built Before1978 YN Yes Current Use Residential-Multi-FamilyOther Electric Expense Source Actual Electrical Service Circuit Breakers101-200 Amps Electricity Expense 7121 Expense Year 2018 Exterior Building Type Brick Fuel Expense 12113 Fuel Expense Source Actual Gross Rental Income Amount 431820 Heat Ventilation Forced Air Insurance Expense 13237 Insurance Expense Source Actual Janitor Expense 17200 Janitor Expense Source Actual Monthly Income Max1 580 Monthly Income Max2 595 Monthly Income Max3 725 Monthly Income Max4 800 Monthly Income Max5 800 Net Oper Income Amount 18954 Net Operating Income Year 2018 Other Expense Source Actual Other Expenses 11029 Owners Assoc YN No Possession Closing Potential Use CommercialOffice And ResearchResidential-Multi-FamilyRetail Sale Terms ConventionalCash OnlyOtherNegotiable Tax Year 2018 Taxes 66641 Tenant Pays Air ConditioningElectricHeatVaries By Tenant Total Annual Exp 191411 Total Annual Expense Source Combination Total Annual Income 380953 Total Monthly Income 31746 Township Hyde Park Type Multi Family Other Water Expense 29150 Water Expense Source Actual Zoning Type Commr

    Listing information © 2019 Midwest Real Estate Data LLC.
    Listing provided courtesy of Dream Spots Leasing Inc.


    © 2019 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 Property Consultants Realty. Based on information submitted to the MRED as of 2019-09-21T20:51:14.18 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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    Chicago IL, 60647