1059 Wrightwood Avenue, Chicago, 60614

$1,625,000 - Mixed Use For Sale

$1,625,000

Beds
Baths
4,235Sqft
1898Built
MLS® #: 10618809
Active

Mixed use building on a corner/over-sized lot in Lincoln Park. 30x125 and zoned RT-4. Corporately held Tavern license is permanently affixed to property. This creates guaranteed commercial occupancy as Tavern licenses are highly sought after and the current tenant will need to either sell the license to a new tenant (per landlord approval) or transfer it to the building owner upon vacancy. Property is 3 units (2 apartments and 1 commercial tenant), no vacancy in over 30 years. Commercial lease is guaranteed by the corporation that holds the Chicago Tavern Liquor License (valued over $100K). Modified gross commercial lease, tenant pays their share of real estate tax and insurance costs - any increase over the 2018 base year. Commercial tenant responsible for all mechanicals in their space and all snow removal for the building. Apartment 2F is 3beds 2 baths with a true master suite and apartment 2R is a condo quality 2 bed 2 bath with rain shower and fireplace, fully updated. Steps from Jonquil Park and DePaul. Commercial lease runs through June 2023 with annual increases (see attached schedule), unit 2R lease runs through 3.31.21 & 2F leased through June 2020. With a light kitchen facelift unit 2F could yield another $500+ a month in rent. Avli Taverna and Love Street just joined the block and Lincoln Commons down the street, the neighborhood is increasing in value as these projects are completed.

Additional Information: This property is located in the CHI - Lincoln Park neighborhood, IL. This bedrooms mixed use property is priced at $383.7/sqft.

Price & Status History

Date Details
Status Changed from New to Active

Essential Information

MLS® #: 10618809
Price: $1,625,000
Taxes: $20,289
Square Footage: 4,235
Acres: 0.00
Year Built: 1898
Type: Commercial
Sub-Type: Mixed Use
Status: Active

Community Information

Address: 1059 Wrightwood Avenue
Area: CHI - Lincoln Park
City: Chicago
County: Cook
State: IL
Zip Code: 60614

Amenities

Parking Spaces: 5

Interior

Heating: Central Heat/Indiv Controls, Forced Air, Gas
Cooling: Central Air
Fireplace: Yes
# of Fireplaces: 1
# of Stories: 1
Stories: 2

Additional Information

Zoning: COMMR

Listing Details

Listing Office: Compass

Financials

$/SqFt: $384

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Listing information last updated on June 1st, 2020 at 3:20am CDT.