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5101 S Michigan Avenue Chicago, IL $ 1,200,000
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$ 1,200,000 Get more info
5101 S Michigan Avenue
$ 1,200,000
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5101 S Michigan Avenue

Chicago, IL, 60615
$ 1,200,000
Baths0.0 Sq 7,833

Monthly Estimate*

$ 8,382

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Studio

Commercial Property for sale in Chicago, IL

for $1,200,000. This 7,833 square foot building was built in 2005 on a lot size of 0.373209.

Washington Park-7 Stores (4 Restaurants, 3 stores) High quality Washington Park Retail Center with 4 restaurants & 3 stores. Two blocks from the 51st Street CTA Green Line Station at the intersection of 51st & S Michigan. Excellent visibility corner lot with popular restaurants and good traffic. 9 parking spaces with room for more. 16,257 square foot lot zoned B3-3, approximately 7,833 square foot building, built in 2005. Annual PGI of $182,507 & value-add potential. $2.3 Billion Annual Consumer Spending Ideal post-covid restaurant layouts, primarily take-out with limited dine-in & large kitchens with hoods. Single story building, amply plumbed for additional light food service &/or easily install hoods. 3-mile radius population of 281,310. Average household income of $60,288 & annual consumer spending of $2.3 Billion. Average retail rent is $20.64NNN with a vacancy rate of 4.9%.

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Commercial Active

Price

$ 1,200,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 43,492

Style

Lot Size

0.373209

Year Built

2005

Town/City

Chicago

County/Region

Cook

MLS | Web ID

12011642
Features
General
Cooling Central Air
Year Built 2005
Electric Other
Tenant Pays Air Conditioning Common Area Maintenance Electricity Heat Janitorial Service Taxes Insurance Sewer Varies by Tenant
Stories 1
Tax Year 2022
County Cook
Net Operating Income 12000
Property Type Commercial Sale Retail/Stores
Status Active
Directions 90 South to 51st. 51st East. 101 E 51st on Right.
City Chicago
Total Units 7
MLS Area CHI - Washington Park
Lot Size Square Feet 16257
Street Name Michigan
Tax Annual Amount 43492
Additional Parcels Y/N N
Leasable Area 0
Days on Market 7
Standard Status Active
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Exterior
Building Area Total 7833
Lot Dimensions 160X100
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Interior
Street Suffix Avenue
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* Excluded Features
List By
Twins Realty Llc

Broker

info@imperialrealtyco.com

Email

Affordability Calculator

$12,007
Per Month
70%
30%
0%
Monthly Principal & Interest
$8,382
Monthly Property Taxes
$3,624
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
565567 Elementary School
567955 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
3/23/2024$1,200,000 Listed Price

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5101 S Michigan Avenue, Chicago, IL, 60615 is a Commercial Property for sale at $1,200,000 with 7,833 sqft and a lot size of 0.373209. 5101 S Michigan Avenue is a studio with 0.0 baths and was built in 2005. The property's zip code is 60615 which is in Chicago, IL

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