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Listed by Ronald Ohrof Avenue 1 Realty Group
$ 1,395,900
Est. payment /mo
Active
3222-3224 S Morgan Street Chicago, IL 60608
6,660 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 6,660 sqft
Price per Sqft $209
MLS Listing ID 12532868
Year Built 1891
Annual Tax Amount $15,613
Tax Year 2023
Lot Dimensions 50x107
Property Sub-Type Mixed Use
Property Description
Turnkey 9-unit mixed-use property in one of Chicago's strongest rental markets of Bridgeport!. Excellent unit mix: three (3) 2BD/1BA, four (4) 1BD/1BA, and two (2) retail storefronts. The 3222 storefront and 1R unit are currently combined and leased to one tenant, easily converted back to separate spaces if desired. Each unit separately metered for gas and electric. Heating includes a mix of furnaces and Williams heaters; commercial units and 2F have furnaces with A/C condensers. Major capital improvements include full gut rehab of Unit 2F with all new plumbing, electrical, and HVAC, storefront cosmetic updates (2024), two new furnaces (2024), new water heaters, copper plumbing in select areas, electrical upgrades, and new basement coin laundry (2 washers/2 dryers). Located just off I-55 & I-90/94, minutes from Downtown, and walking distance to Guaranteed Rate Field and public transit. Strong rental history, updated systems, and minimal deferred maintenance make this an ideal turnkey addition to any investment portfolio.**Investor Upside: Add a concrete parking pad in the rear (gate already in place) and generate additional parking income, install furnaces and A/C in remaining units, add a doorbell/buzzer system for convenience and security, and raise all rents to market levels-current rents are below market.
Location
State IL
County Cook
Zoning OTHER
Interior
Cooling Central Individual
Fireplace N
Exterior
View Y/N true
Building
Foundation Concrete Perimeter
Structure Type Brick
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