Commercial Real Estate

1407 w chicago avenue

chicago, IL

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Status: Active Under Contract
Property Type: Commercial Real Estate
Community: Noble Square
$775,000
price
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bedrooms
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bathrooms
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square feet
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usable square feet
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Incredible opportunity for investors seeking versatile office space or the potential to convert into a mixed-use property. This all-brick building, situated on a 25x120 lot, offers approximately 6K+ sq. ft of usable space across its main and upper floors (does not include basement). Favorably zoned as B1-2 zoning, providing Incredible opportunity for investors seeking versatile office space or the potential to convert into a mixed-use property. This all-brick building, situated on a 25x120 lot, offers approximately 6K+ sq. ft of usable space across its main and upper floors (does not include basement). Favorably zoned as B1-2 zoning, providing investors with the ability to convert building to a mixed building (residential and commercial), potentially add another floor, and allow for commercial space (i.e., retail, coffee shop) making this property even more attractive for future development. Prime Location: High foot traffic area near the corner of Chicago Avenue and Noble Street. Across from Lush Wine bar, Five Star, and less than a mile away from the new Bally Casino. Less than 1/2 mile from the Chicago Blue Line station/ Major bus stops just steps from the entrance. If you're looking to relocate your business, lease out office space, or embark on a redevelopment project, this property provides options and in a great location. Existing Building Highlights: i) Well renovated office space providing over 6K+ square ft allowing any investor with the ability to lease the space day 1 post ownership ii) Bathrooms: Equipped with 2 half-baths and 1 full bath on the second floor for added convenience iii) Security Features: Building equipped with key card access throughout the space, providing safe and secure access, as well as camera security system, iv) Additional Space: Includes a usable basement level for storage or potential build-out, not included in the 6K+ sq. Ft of useable space between the main and upper floors; v) Furniture & Electronics: The owner is open to negotiating the sale of furniture and electronics currently in the building. Building includes Wire/wireless data network, vi) Potential Parking: Space is currently being used as enclosed storage/IT room but can be converted to a 2 tandem parking (up to 4 cars total) or more depending on how the investor looks to utilize the rear of the building, vii) Prime For Multi-Unit Conversion: Upper floor can be converted to rental units, and back end of the building can accommodate heated enclosed parking. Additionally, the main floor can be used for retail space in a high traffic area on Chicago Avenue. Please Note taxes have been reassessed on the property for 2024 and annual taxes are expected to be ~36K for the full year.
Lot size: 3,000 square feet
Taxes: $54,273.77
Style:
County: Cook
Listing time: Clients only
MLS #: 12273004

Map: 1407 w chicago avenue

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Property Details: 1407 w chicago avenue

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Interior features

Interior information
  • Total Rooms: Ask Agent
  • Bedrooms: Ask Agent
  • Interior Features:
  • Full Bathrooms: Ask Agent
  • Half Bathrooms: Ask Agent
  • Master Bedroom: No
  • Additional Rooms: Ask Agent
Living Room
  • Size: Ask Agent
  • Level:
  • Floor Coverings:
Dining Room
  • Combined With Living Room: No
  • Size: Ask Agent
  • Level:
  • Floor Coverings:
Kitchen
  • Size: Ask Agent
  • Level:
  • Floor Coverings:
Family Room
  • Size: Ask Agent
  • Level:
  • Floor Coverings:
Master Bedroom
  • Size: Ask Agent
  • Level:
  • Floor Coverings:
Laundry
  • Size: Ask Agent
  • Level:
  • Floor Coverings:
Basement
  • Basement: No
  • Description:
Equipment, Appliances, HVAC
  • Heating: Central Bldg Heat
  • Cooling: Central Air
  • Appliances: Ask Agent
  • Additional Equipment:

Exterior, pets, parking, misc

Exterior information
  • Exterior Features: Brick
  • Exposures:
  • Roof: Flat
  • Lot Acres: Ask Agent
  • Lot Square Footage: 3,000 square feet
  • Waterfront: No
Pets
  • Pets Allowed: Ask Agent
  • Pet Information:
Parking
  • Total Parking Spaces: Ask Agent
  • Parking Description:
  • Garage Spaces: Ask Agent
  • Garage Description:

Financial information

  • Taxes: $54,273.77
  • Tax Year: 2023
  • Assessments (HOA): Ask Agent
  • Assessments Include:
  • Special Assessments:
  • Is Distressed Sale: No

Property specific details

  • Year Built: 1899
  • Building Age: 16-25 Years
  • Total Number Of Units: 0
  • Number Of Stories: 2

chicagohome's network knowledge

  • Usable SqFt: Ask Agent
  • $'s/Usable SqFt: Ask Agent
  • Parcel Identification Number (PIN): 17081020120000
  • Subdivision Name:

Listing courtesy of @properties

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