2721 W Peterson Avenue Chicago, IL $ 999,500
2721 W Peterson Avenue
$ 999,500
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2721 W Peterson Avenue

Chicago, IL, 60659
$ 999,500
Bedrooms-- Baths-- Sq 5,500

Monthly Estimate*

$ 6,311

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Commercial Property for sale in Chicago, IL

for $999,500. This 5,500 square foot building was built in 1971 on a lot size of 0.071166.

Don't let the exterior fool you! This exceptional mixed-use property was extensively renovated and expanded with a brand-new second floor completed in 2022. The main level features six fully leased office suites, two bathrooms, a party room, and an attached 2.5-car garage, providing immediate income. The second floor offers two condo-quality residential units, including a spacious 3-bedroom, 2-bath unit with an open-concept floor plan, quartz countertops, full-height backsplash, large island, luxurious primary suite with a walk-in shower and double vanity, generously sized bedrooms, and in-unit laundry. The second unit is a beautifully finished 1-bedroom, 1-bath with quartz countertops, in-unit laundry, and the potential to add a rooftop deck over the garage. Additional improvements include new steel front and rear staircases, new plumbing, new electrical, and numerous other updates. All renovations were fully permitted. The commercial spaces are fully leased, while the upper residential units are currently owner occupied, making this an outstanding opportunity for investors or owner-occupants seeking a turnkey, income-producing property. Financials are uploaded

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Commercial Active

Price

$ 999,500

Property Type

Commercial

Taxes

$ 7,989

Style

Lot Size

0.071166

Year Built

1971

Town/City

Chicago

County/Region

Cook

MLS | Web ID

12717389

Features
General
Cooling Central Air
Zoning COMMR
Construction Materials Brick
Year Built 1971
Electric Circuit Breakers
Tenant Pays Varies by Tenant
Stories Count 1
Township Jefferson
Property Subtype Mixed Use
Tax Year 2024
Gross Income 93600
County Cook
Net Operating Income 0
Operating Expense 22213
Insurance Expense 5000
Property Type Commercial Sale Mixed Use
Status New
Directions Peterson Ave (6000N) between Western Ave and California Ave
City Chicago
Number Of Units Total 8
MLS Area CHI - West Ridge
Lot Size Square Feet 3100
Tax Annual Amount 7989
Electric Expense 0
Fuel Expense 0
Trash Expense 0
Water Sewer Expense 1140
Additional Parcels Y/N N
Virtual Tour https://real.vision/2721-west-peterson-avenue-1-2---commercial-space?o=u
Standard Status Active
Cap Rate 7
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Exterior
Foundation Details Concrete Perimeter
Building Area Total 5500
Lot Dimensions 25 X 124
Frontage Type City Street
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* Excluded Features
List By
Baird & Warner

Broker

phil.mistrata@bairdwarner.com

Email

Affordability Calculator

$6,977
Per Month
90%
10%
0%
Monthly Principal & Interest
$6,311
Monthly Property Taxes
$666
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% 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
Pricing History
DatePricePrice ChangeDescription
8/3/2026$999,500 Listed Price

Map


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2721 W Peterson Avenue, Chicago, IL, 60659 is a Commercial Property for sale at $999,500 with 5,500 sqft and a lot size of 0.071166. 2721 W Peterson Avenue was built in 1971. The property's zip code is 60659 which is in Chicago, IL