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23265018
24943975

1631 N Halsted St, Chicago, IL 60614 For Sale

SS
IL 475136992
Millennium Properties R/E
Listed by Millennium Properties R/E
$1,570,000
440 days on market
Updated 76 days ago

For Sale: 5,658 SF Mixed-Use Building in Lincoln Park

Details
Property Type Mixed Use, Multifamily (+1)
Sub Type Apartment Building, Medical Office (+1)
Square Footage 5,658
Units 3
Cap Rate 2.12%
NOI $33,297
Occupancy 100%
Pro-Forma Cap Rate 8.17%
Pro-Forma NOI $128,230
Price per SqFt $277
Year Built 1873
Year Renovated 2004
Buildings 1
Stories 2
Zoning PMD

Mixed Use | 2.12% CAP | 5,658 SqFt

Marketing description

1631 North Halsted Avenue is a 5,658 SF mulit-use building ideally positioned in one of Chicago’s most dynamic and upscale neighborhoods. The property offers exceptional potential for residential or boutique hotel development. The surrounding area is a thriving destination, just blocks away from iconic cultural and lifestyle attractions including the renowned Steppenwolf Theater, Whole Foods, Apple, Crate & Barrel, and award-winnning restaurants such as Alinea and Boka. The property benefifits from excellent connectivity-just one block north of the CTA Clybourn Station and directly served by the high traffific Halsted bus route. Just steps from the vibrant North and Clybourn intersection, this location places you near some of the city’s premier retail, dining and nightlife corridors. The site is also less than one mile from DePaul University’s main campus, contributing to the area’s contiued economic strength.

Lincoln Park is one of Chicago’s most famed neighborhoods. Well known for being home to Chicago’s largest park and for the Lincoln Park zoo, this neighborhood has much to offer when it comes to retail, restaurants, and nightlife. It is also home to DePaul University, ranked in the top 20 college locations in the United States. The neighborhood atrracts a wide demographic and is home to many students, recent graduates and families drawn by the various amenities Lincoln Park has to offer.

Investment highlights

• Three-story mixed-use building

• 5,658 SF of commercial and residential space

-3,931 SF of commercial space

• 4,200 SF lot

• Ground and garden level are commercial space with one residential 3-bed, 2-bath unit

• Four parking spaces

• In-place income

• Located in desireable neighborhood close to many retailers and high-end restaurants as well as theaters

• Approximately one mile away from Depaul University’s main campus

• One block away from the Red Line

• Easy access to I-90

• Zoning: B3-5

• Taxes (Projected 2024): $26,261.33

Listing Contacts

SS
IL 475136992
Millennium Properties R/E
Listed by Millennium Properties R/E

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$33,297.00
$2,774.75/mo

Valuation Metrics

0
DSCR
2.12%
Cap Rate
2.12%
ROI

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