About 5256 W Irving Park Road
5254-58 W Irving Park Rd is well located, value-add mixed-use building in Portage Park. The property features (7) total apartments and (2) commercial spaces with full basements. The apartments feature (4) 1br/1ba apartments on the Lockwood side, and then on Irving Park above the commercial, there are (2) 1br/1ba & (1) 2br/1ba apartments. The apartments are heated by a boiler with window AC units. The unit interiors are well kept, but primarily vintage with some Chicago charm. This boasts an excellent opportunity for new ownership to capitalize on increased rents throughout the market through cosmetic improvements. The commercial spaces are occupied by Saravale Meat Market & a local attorney office. Saravale has been in this location for over 25 years. The property has a new tear off roof that was completed within the last two years. Lastly, 5254-58 W Irving Park Rd benefits from a reduced assessed value through the AHSAP, providing a lower assessed value. 2 units must remain affordable at 60% of AMI and filed as such yearly to continue to the program. This is an excellent opportunity on a corner lot in an appreciating market. Your clients will not be disappointed they purchased this asset.
Features of 5256 W Irving Park Road
| MLS® # | 12754460 |
|---|---|
| Price | $1,350,000 |
| Bathrooms | 0.00 |
| Acres | 0.13 |
| Year Built | 1920 |
| Type | Commercial Sale |
| Sub-Type | Mixed Use |
| Commercial Sub-Type | Mixed Use |
| Status | New |
| Taxes | $9,640 |
Community Information
| Address | 5256 W Irving Park Road |
|---|---|
| Area | CHI - Portage Park |
| City | Chicago |
| County | Cook |
| State | IL |
| Zip Code | 60641 |
Amenities
| Is Waterfront | No |
|---|---|
| New Construction | No |
| Has Pool | No |
Interior
| Cooling | Central Air, Window Unit(s) |
|---|---|
| Fireplace | No |
| Has Basement | No |
Exterior
| Exterior | Brick |
|---|
Additional Information
| Days on Market | 1 |
|---|---|
| Zoning | OTHER |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Horvath & Tremblay IL, LLC |
|---|