2889 N Milwaukee AVE Save Request In-Person Tour Request Virtual Tour
Chicago,IL 60618
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 3,371 sqft
Price per Sqft $229
MLS Listing ID 12476213
Year Built 1914
Annual Tax Amount $8,826
Tax Year 2023
Lot Dimensions 23x125
Property Sub-Type Mixed Use
Property Description
Named one of the coolest neighborhoods in the world by Timeout! An excellent investment opportunity, this charming two-story mixed-use building is ideally positioned along Milwaukee Avenue, adjacent to Logan Square, in Chicago's rapidly developing Avondale neighborhood. Situated in a prime location, it boasts convenient access to the CTA Blue Line, buses, and I-90/94, surrounded by a dynamic mix of local and national businesses, including restaurants, cafes, and boutiques. This well-maintained property features a first-floor storefront (1,720 SF) leased to a catering company, ensuring a steady income stream with three years remaining on the lease. The 2nd floor is currently configured as two apartments: the front unit is a one bedroom, one bathroom on a month-to-month lease, and the rear apartment is a vacant two-bedroom, one-bathroom with an enclosed porch ready for a new tenant or updates to maximize rental income. A two-car garage provides additional income. Offering a excellent annual income, this property represents a solid investment opportunity. The retail lease secured through October 2028 ensures immediate, stable cash flow while supporting long-term value growth. Come be a part of this dynamic community and benefit from its continued development! Please do not disturb tenants.
Location
State IL
County Cook
Area Chi - Avondale
Zoning COMMR
Interior
Cooling Central Air,Partial,Window Unit(s)
Fireplace N
Building
Dwelling Type Mixed Use
Structure Type Brick