The Strength of Teamwork...The Reputation for Results!
Courtesy of: TBFS Investments LLC-Realty
Purchase Type: Sale
MLS ID: MRD11009127
Year Build: 1906
Total Baths: 7
Full Baths: 4
Half Baths: 3
Property Type: Two to Four Units
New Construction: No
Heating: Forced Air
Swimming Pool: No
Address: 1556 N La Salle Drive
Neighborhood: Chi - Near North Side
Property Taxes: $17,146
Tax Year: 2019
CASH COW!!! THERE IS A $6,200 / PER MONTH SIGN ADVERTISEMENT ON THE SIDE OF THE BUILDING THAT HAS A NEW LONG TERM LEASE!!!!! 1 Billboard, 1 Commercial Property, 3 Residential units. This property is a cash cow and can generate approximately $382,000 in annual revenue if the residential units are converted to Airbnb or short-term rentals. Please ask listing agent for the forecasted financial statements. GREAT INVESTMENT! 16% cash on cash return, 10%+ = cap rate. Listing Agent specializes in Airbnb / short-term rentals in the City of Chicago. Just ask for more information. The subject property is comprised of a +/- 2,500 SF land site improved with a +/- 6,300 SF 2.5-story, brick, mixed-use (commercial and residential) building in the Old Town neighborhood of Chicago. The ground/garden level of the subject is comprised of a rented commercial storefront unit totaling approximately 2,000 SF. The first floor is built out for an office unit in the front and residential apartment unit in the rear, with each unit averaging approximately 1,000 SF. The top floor consists of a single, large residential apartment unit that spans the entire floor and measures approximately 2,000 SF. The site is zoned B3-5, Community Shopping District.
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