338 W Armitage Avenue
Chicago, IL, 60614 $ 2,250,000
Bedrooms-- Baths-- Monthly Estimate*
$ 15,540
for $2,250,000. This building was built in 1878.
Discover a distinctive blend of character, space, and versatility in this exceptional 6-bedroom, 4.5-bathroom mixed-use property in the heart of Lincoln Park suitable for an owner occupant who wants nearly 7,500 in income to off set mortgage, an investor looking for a steady return in Chicago's Lincoln Park, or a savvy developer for AirBnb or other use cases. This unique asset features a street-level commercial space Restaurant lease is 5,500 expires 2/1/28, a spacious main residence, a coach house, and a three-car garage. The primary residence is a triplex with rich hardwood floors, two cozy fireplaces, and oversized windows create a warm, light-filled living room that flows into a formal dining room and a well-appointed kitchen with built-in cabinetry and stainless steel appliances including a La Corneu oven blending it's historical woodwork and carpentry with modern finishes. A powder room and spacious study complete the main level. The second floor offers a spacious primary suite with a fireplace and en-suite bath, along with two additional bedrooms and a full bath. Upstairs, two more bedrooms, a full bath, and a generous family room open onto a balcony with a beautiful rooftop terrace with an additional fireplace. Off the main living level a beautiful courtyard (complete with a built in fourth fireplace) connects to the coach house, featuring its own kitchenette, bedroom, full bath, and sitting room. Multiple outdoor spaces add to the appeal. Ideally located near Lincoln Park Zoo, North Avenue Beach, neighborhood restaurants, cafes, boutique shopping, and public transportation, this is a rare opportunity to own a versatile property in one of Chicago's most sought-after neighborhoods. Restaurant lease is 5,500 expires 2/1/28
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FeaturesGeneralCooling Central Air
Zoning OTHER
Construction Materials Stucco Combination
Year Built 1878
Electric Circuit Breakers
Stories Count 4
Property Subtype Mixed Use
Tax Year 2025
Gross Income 193200
County Cook
Insurance Expense 5000
Property Type Commercial Sale Mixed Use
Status Active
Directions Clark to Armitage West to address
City Chicago
Number Of Units Total 3
MLS Area CHI - Lincoln Park
Lot Size Square Feet 0
Tax Annual Amount 38830.86
Electric Expense 700
Fuel Expense 0
Trash Expense 0
Water Sewer Expense 1500
Additional Parcels Y/N N
Virtual Tour https://www.zillow.com/view-imx/9674d8e9-074b-4dd3-9f2a-a307ac3ed310?wl=true&setAttribution=mls&initialViewType=pano
Standard Status Active
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* Excluded FeaturesList Byben.lalez@compass.com;Ben@BenLalezTeam.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $15,540
- Monthly Property Taxes
- $3,236
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% 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.
Learn more about how to save NearbyCommerical listings in Chicago, IL
Average List Price $985,177
Percent of Sale Price 56%
About Chicago, IL 2,755,380 Population
-4% Since 2002
$ 53,088 Median Income
36.07 Median Age
25% Households with Children
Trends Information provided by ATTOM Data Solutions.
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 11/4/2026 | $2,250,000 | | Listed Price |