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$ 820,000
Est. payment | /mo
7,012 SqFt
$ 820,000
Est. payment | /mo
7,012 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 7,012 sqft
Price per Sqft $116
MLS Listing ID 12573173
Year Built 1899
Annual Tax Amount $10,554
Tax Year 2024
Lot Dimensions 40X100
Property Sub-Type Mixed Use
Property Description
Exceptional mixed-use investment opportunity in the heart of Bridgeport offering approximately 7,012 square feet of combined space- 4530 of an above ground level finished space and 2482 SQ ft of an unfinished tall basement. This mixed use property consists of 2 spacious 3 bedroom residential units, 1 retail commercial storefront (822sq ft) and adjacent (1142 sq ft commercial unit that is currently used as an appartment - lease expires on 6/30/26 and new owner may lease it as commercial suite to generate higher income or use it as an owner operator. Bring your own business here! The residential apartments are nicely updated and feature hard surface flooring, white trim and molding, high ceilings, updated kitchens with granite countertops, two units with stainless steel appliances, in-unit laundry rooms, ceiling fans, and individual central HVAC. The commercial space includes a new front window and recently replaced heating system. Current total monthly rental income is $6,991. Tenants pay their own gas and electric, while the owner is responsible for water, sewer, and common area lighting. Utilities are separately metered for gas and electric for each unit and tenants pay their own. Recent B1-2 mixed use zoning now allows bringing profitable commercial tenants to main floor space that historically has been used as a residential or you can bring own business. Rents are near current market rates with potential for future increases in particular with recent zoning change and potential for commercial space expansion. The current commercial lease includes an escalation clause upon renewal. Additional improvements include a newer roof, newer porch, 4 newer hot water tanks, cement flooring in the full walkout basement, crisp basement ceiling/main floor floorboards and central heat and air conditioning in all residential units. The basement provides significant storage and potential value-add/expansion opportunities Small fenced grassy area in back. The building is situated on a desirable corner lot on a low-traffic retail street surrounded by newer construction. The location offers convenient access to public transportation, shopping, dining, parks, and major thoroughfares. Palmisano Park is located nearby, and the property provides quick access to downtown while maintaining a neighborhood setting. Bridgeport is known for its strong community presence, local dining establishments, cultural events, and proximity to Guaranteed Rate Field.The seller's lender may be able to offer an assumable FHA mortgage for qualified buyers at a 2.25 interest rate. Great CAP rate for savyy investors. First floor units can be combined into large commercial space of approx 2158 SQ ft to accommodate a larger business in this prime location. Please do your own due diligence to verify the information. Neither seller or seller's brokerage assume any liability regarding these statements.
Location
State IL
County Cook
Area Chi - Bridgeport
Zoning MULTI
Interior
Cooling Central Air, Central Individual, Window Unit(s)
Flooring Vinyl, Wood, Other
Fireplace N
Building
Dwelling Type Mixed Use
Structure Type Brick,Wood,Vinyl Siding
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Joanna Lewkowicz of Boutique Home Realty
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