$ 225,000
3822 W Madison ST Chicago, IL 60624
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$ 225,000
Est. payment /mo
Price Dropped by $14K
3822 W Madison ST Chicago, IL 60624
UPDATED:
10/20/2024 05:06 AM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12102741
Year Built 1906
Annual Tax Amount $1,510
Tax Year 2023
Lot Dimensions 4158
Property Description
This property offers a unique mixed-use opportunity with both commercial and residential components. The apartment features approximately 1,000+ square feet of living space, with 3 bedrooms and 1 bathroom. The commercial portion of the property comprises approximately 1,400+ square feet and is currently being utilized as a saloon, with customer seating space and private vendor suites, as well as a manager's office. The commercial tenants are month-to-month and in good standing. The residential section of the property is occupied by a long-term tenant, also on a month-to-month basis and in good standing. Recent updates to the property include updated kitchen floor and cabinets, newer boilers, a new hot water tank for the residential tenant, and a new air conditioning system for the commercial tenant. This unique mixed-use setting offers a significant opportunity for the owner to generate income from both the commercial and residential components. The property's location on Madison Avenue provides excellent foot traffic and shopping opportunities, as well as proximity to the nearby park, which hosts a variety of community activities throughout the year. The security shutters installed on the property provide an added layer of protection and peace of mind for both tenants and the owner. The open concept saloon layout allows for versatility and potential customization to suit the needs of future commercial tenants.
Location
State IL
County Cook
Area Chi - West Garfield Park
Zoning OTHER
Interior
Cooling Wall Sleeve, Window Unit(s)
Fireplace N
Building
Dwelling Type Mixed Use
Level or Stories 2
Structure Type Brick
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Listed by Daryl Brewer • Coldwell Banker Realty