1556 North La Salle Drive, Chicago, IL

$2,599,999

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5

Beds

7

Baths

About 1556 North La Salle Drive

CASH COW!!! THERE IS A $6,200 / PER MONTH SIGN ADVERTISEMENT ON THE SIDE OF THE BUILDING THAT HAS A NEW LONG TERM LEASE!!!!! 1 Billboard, 1 Commercial Property, 3 Residential units. This property is a cash cow and can generate approximately $382,000 in annual revenue if the residential units are converted to Airbnb or short-term rentals. Please ask listing agent for the forecasted financial statements. GREAT INVESTMENT! 16% cash on cash return, 10%+ = cap rate. Listing Agent specializes in Airbnb / short-term rentals in the City of Chicago. Just ask for more information. The subject property is comprised of a +/- 2,500 SF land site improved with a +/- 6,300 SF 2.5-story, brick, mixed-use (commercial and residential) building in the Old Town neighborhood of Chicago. The ground/garden level of the subject is comprised of a rented commercial storefront unit totaling approximately 2,000 SF. The first floor is built out for an office unit in the front and residential apartment unit in the rear, with each unit averaging approximately 1,000 SF. The top floor consists of a single, large residential apartment unit that spans the entire floor and measures approximately 2,000 SF. The site is zoned B3-5, Community Shopping District.

Features of 1556 North La Salle Drive

MLS® # 11009127
Price $2,599,999
Bedrooms 5
Bathrooms 7.00
Full Baths 4
Half Baths 3
Acres 0.00
Year Built 1906
Type Residential Income
Sub-Type Two to Four Units
Status Active

Tax Information

Taxes $17,146
Tax Year 2019

Community Information

Address 1556 North La Salle Drive
Area CHI - Near North Side
City Chicago
County Cook
State IL
Zip Code 60610

Amenities

Is Waterfront No
Has Pool No

Interior

Heating Forced Air
Fireplace No
Has Basement Yes
Basement None

Exterior

Exterior Brick

School Information

District 299

Additional Information

Days on Market 278
Zoning COMMR
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeTBFS Investments LLC-Realty

Listing Map

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