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$1,700,000
Est. payment /mo
6 Beds
7 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12357009
Bedrooms 6
Year Built 1896
Annual Tax Amount $24,323
Tax Year 2023
Lot Dimensions 24X140
Property Sub-Type Two to Four Units
Property Description
Located at 1623 N Halsted, this 3 unit, 5,388 SF property is ideally positioned in one of Chicago's most dynamic and upscale neighborhoods-offering exceptional potential for residential or boutique hotel development. The ground floor former restaurant space offers the opportunity for an owner/user to open up shop and use the residential unit income to cover their mortgage or an investor looking for cash flow. Fully leased this property can generate $190k in income, with a projected NOI of $138,000. The surrounding area is a thriving destination, just blocks from iconic cultural and lifestyle attractions including the renowned Steppenwolf Theatre, Whole Foods, Apple, Crate & Barrel, and award-winning restaurants such as Alinea and Boka. The property benefits from excellent connectivity-just one block north of the CTA Clybourn Station and directly served by the high-traffic Halsted bus route. Just steps from the vibrant North and Clybourn intersection, this location places you near some of the city's premier retail, dining, and nightlife corridors. The site is also less than a mile from DePaul University's main campus, contributing to the area's continued economic strength. This property also includes 4 car garage and select upgrades, including a black iron top stove, offering added value. The property can be purchased individually or as a portfolio together with 1625 N Halsted, 1629 N Halsted, and 1631 N Halsted.
Location
State IL
County Cook
Area Chi - Lincoln Park
Zoning PMD
Rooms
Basement Finished, None, Full
Interior
Heating Natural Gas, Forced Air
Fireplace N
Exterior
Garage Spaces 4.0
Building
Dwelling Type Two to Four Units
Building Description Brick, No
Sewer Public Sewer
Water Lake Michigan
Structure Type Brick
New Construction false
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
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Listed by Daniel Hyman of Millennium Properties RE, Inc.