$ 2,599,000
1335 W Taylor ST Chicago, IL 60607
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$ 2,599,000
Est. payment /mo
Price Dropped by $51K
1335 W Taylor ST Chicago, IL 60607
7,540 SqFt
UPDATED:
10/17/2024 05:07 AM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 7,540 sqft
Price per Sqft $344
MLS Listing ID 12053387
Year Built 2019
Annual Tax Amount $30,053
Tax Year 2022
Lot Dimensions 25X102.9
Property Description
Turnkey new construction investment centrally located on the Taylor Street corridor between Illinois Medical District to the West and University of Illinois Chicago to the East. 2019 construction with a desirable unit-mix, modern in-unit amenities and luxury finishes including in-unit laundry, granite countertops, individual HVAC, private balconies, etc. The first floor is leased to a national tenant - Insomnia Cookies - on a new 10-year net lease providing stable, long-term cash flow with annual increases. Value-add potential with increases in rent to reflect recent rental comps in the area, finishing out the rooftop deck and monetizing the basement storage area. All three apartments are large 4BR/2BA units. Low expense ratio with Insomnia responsible for 50% of the property taxes and building insurance. Excellent area tenant base to draw from with UIC (34,000 undergrad and post graduate students - largest university in the Chicago Metro Area) and Illinois Medical District (29,000 employees, 50,000 daily visitors and $3.4 billion in economic opportunity - the largest medical district in North America).
Location
State IL
County Cook
Area Chi - Near West Side
Interior
Cooling Central Air
Fireplace N
Building
Dwelling Type Mixed Use
Level or Stories 4
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Listed by Nathan Gautsche • Chicago Real Estate Resources