5618-20-22 N Western--Three Lot Property | 5620 N Western Ave
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5618-20-22 N Western--Three Lot Property 5620 N Western Ave
8,000 SF 53% Leased Retail Building Chicago, IL 60659 $1,199,000 ($150/SF) 6.78% Cap Rate
Investment Highlights
- Ideal for owner user, many possibilities
- Three pins, three properties in one, 5619---lot, 5620---three story with store+two 2BR apts, 5622---single story flexicore, can add more stories
- Three lots with 75' frontage with a traffic count of 30k cars per day
Executive Summary
WELCOME TO ARCADIA TERRACE---unique opportunity to acquire a FULLY occupied THREE-lot / THREE pin investment/owner property with a tremendous traffic count and C1-2 ZONING for many businesses. From left to right it consists of: 5618-gated parking lot/5620 three story mixed use---ALL NEW REHAB-- with a store, 200 amp panel, front-back office plus three private offices, upstairs has two 2-BR apartments, 100 amp panel, with separate dining, all with separate NEW HVAC plus hardwood floors plus all NEW steel back decks, NEW hot water tank, NEWER roof-5 years, rebuilt parapets, tuckpointed/5622 is a free standing 1 story flexi-core commercial garage---levels can be added---200-amp 3-phase+200amp panel. Tenants in 5620 all expire in 2024, 5620+18 are MTM, rents. Just slightly north of Bryn Mawr and adjacent to the booming Devon corridor along with Lincoln Square, Ravenswood, Edgewater. Easy access to public transportation and Lake Shore Drive.
C1-2 zoning / 30,000 cars per day traffic count
Three 2755/SF LOTS or 8265/SF total / 75’ frontage x 110’ deep
ABOUT 8000 TOTAL BUILDING SQUARE FEET
5618 enclosed parking lot, gated on both ends
LOT
25’X110’ / 2755SF
5620 3-story mixed use, store + 2 apartments---about 4800BSF
STORE --about 1750SF
front 33x18 / ADA bathroom 8x7
back 11x37
office 11x9
office 11x9
office 11x9
APARTMENT-2nd floor---1250SF
Living 17x12
Dining 15x10
Kitchen 12x10
BR1 15x10
BR2 13x10
APARTMENT-3RD floor---1250SF
Living 17x12
Dining 15x10
Kitchen 12x10
BR1 15x10
BR2 13x10
Garage 25x40 (storage for 5622, connected)
5622 single story commercial garage
INSIDE GARAGE TYPE SPACE
25X110 space / 2750SF total (+1000SF from the back of 5620)
TAXES 2022
5619 13-01-432-027 $7,708.64
5620 13-01-432-026 $10,906.29
5622 13-01-432-025 $8,690.36
TOTAL $27,305.29
C1-2 zoning / 30,000 cars per day traffic count
Three 2755/SF LOTS or 8265/SF total / 75’ frontage x 110’ deep
ABOUT 8000 TOTAL BUILDING SQUARE FEET
5618 enclosed parking lot, gated on both ends
LOT
25’X110’ / 2755SF
5620 3-story mixed use, store + 2 apartments---about 4800BSF
STORE --about 1750SF
front 33x18 / ADA bathroom 8x7
back 11x37
office 11x9
office 11x9
office 11x9
APARTMENT-2nd floor---1250SF
Living 17x12
Dining 15x10
Kitchen 12x10
BR1 15x10
BR2 13x10
APARTMENT-3RD floor---1250SF
Living 17x12
Dining 15x10
Kitchen 12x10
BR1 15x10
BR2 13x10
Garage 25x40 (storage for 5622, connected)
5622 single story commercial garage
INSIDE GARAGE TYPE SPACE
25X110 space / 2750SF total (+1000SF from the back of 5620)
TAXES 2022
5619 13-01-432-027 $7,708.64
5620 13-01-432-026 $10,906.29
5622 13-01-432-025 $8,690.36
TOTAL $27,305.29
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
8,000 SF
Building Class
C
Year Built
1934
Price
$1,199,000
Price Per SF
$150
Cap Rate
6.78%
NOI
$81,269
Percent Leased
53%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
3.00
Lot Size
0.06 AC
Zoning
C1-2, Chicago - Commercial
Parking
6 Spaces (0.75 Spaces per 1,000 SF Leased)
Frontage
75 FT on N Western Ave
Amenities
- Bus Line
- Fenced Lot
- Signalized Intersection
- Tenant Controlled HVAC
- Accent Lighting
- Balcony
Walk Score ®
Very Walkable (78)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $72,700 (2024) | |
| Land Assessment | $58,301 (2024) | Total Assessment | $131,001 (2024) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$58,301 (2024)
Improvements Assessment
$72,700 (2024)
Total Assessment
$131,001 (2024)
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5618-20-22 N Western--Three Lot Property | 5620 N Western Ave
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