7308 Crandon Avenue, Chicago, 60649

REDUCED 3% REDUCED 3% $1,545,000 - Mixed Use For Sale


MLS® #: 10569588

34-unit mixed-use property in Chicago's South Shore neighborhood. The Subject property is a three-story, masonry, corner building that is four blocks away the South Shore Cultural Center, South Shore Golf Course and five blocks from the shores of Lake Michigan. There are 20 Studios and 7 1bed/1bath units. Ownership acquired the Property in July-2016. Since acquisition, ownership has fully renovated 13 of of the apartment units and continues to renovate units as tenant move-outs occur. Additionally, ownership is in the process of getting the second of two small (800-SF), vacant commercial spaces rent-ready. Lastly, much of the heavy-lifting was completed by the seller, including full tuck pointing, all new lintels throughout the building, along with a new roof and new rear porch systems. The property is 88% occupied. Currently, there are a total of four vacant units - two residential apartments and the two small commercial units. All apartment units feature hardwood floors, with tile in the kitchens and baths. Each apartment is separately heated by way of baseboard units. The building has a central hot water tank, located in the building basement area. There are several large, clean, dry basement areas that provide investors with a great opportunity to add value in the form of tenant amenities, such as storage units and laundry facilities. The rear of the property contains a loading/parking area as well as 6 individual garages.

Additional Information: This property is located in the CHI - South Shore neighborhood, IL. This bedrooms mixed use property is priced at $80.9/sqft.

Price & Status History

Date Details
Status Changed from Price Change to Active
Status Changed from Active to Price Change
Price Reduced from $1,595,000 to $1,545,000
Status Changed from New to Active

Essential Information

MLS® #: 10569588
Price: $1,545,000
Taxes: $23,539
Square Footage: 19,100
Acres: 0.00
Year Built: 1923
Type: Commercial
Sub-Type: Mixed Use
Status: Active

Community Information

Address: 7308 Crandon Avenue
Area: CHI - South Shore
City: Chicago
County: Cook
State: IL
Zip Code: 60649


Parking Spaces: 6


Heating: Central Bldg Heat, Steam
Cooling: None
Stories: 3


Exterior: Brick
Construction: Brick, Concrete
Foundation: Concrete

Listing Details

Listing Office: Atlas Asset Management Realty LLC


$/SqFt: $81

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Listing information last updated on April 8th, 2020 at 2:35pm CDT.