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Listed by John Prestonof Horvath & Tremblay IL, LLC
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Est. payment /mo
New
5256 W Irving Park RD Chicago, IL 60641
9,472 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 9,472 sqft
MLS Listing ID 12754460
Year Built 1920
Annual Tax Amount $9,640
Tax Year 2025
Lot Size 5,662 Sqft
Lot Dimensions 50x110
Property Sub-Type Mixed Use
Property Description
5254-58 W Irving Park Rd is well located, value-add mixed-use building in Portage Park. The property features (7) total apartments and (2) commercial spaces with full basements. The apartments feature (4) 1br/1ba apartments on the Lockwood side, and then on Irving Park above the commercial, there are (2) 1br/1ba & (1) 2br/1ba apartments. The apartments are heated by a boiler with window AC units. The unit interiors are well kept, but primarily vintage with some Chicago charm. This boasts an excellent opportunity for new ownership to capitalize on increased rents throughout the market through cosmetic improvements. The commercial spaces are occupied by Saravale Meat Market & a local attorney office. Saravale has been in this location for over 25 years. The property has a new tear off roof that was completed within the last two years. Lastly, 5254-58 W Irving Park Rd benefits from a reduced assessed value through the AHSAP, providing a lower assessed value. 2 units must remain affordable at 60% of AMI and filed as such yearly to continue to the program. This is an excellent opportunity on a corner lot in an appreciating market. Your clients will not be disappointed they purchased this asset.
Location
State IL
County Cook
Zoning OTHER
Interior
Cooling Central Air, Window Unit(s)
Fireplace N
Exterior
View Y/N true
Building
Structure Type Brick
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