| Bedrooms: | 0 beds |
| Bathrooms: | 0 baths |
| Commercial Sale: | 4,235 sqft |
| Lot: | Unknown |
| Year Built: | 1898 |
| Listing Status: | Active |
Listing Agent
Michael Wade (312) 882-4530
http://www.jameson.comWe cannot obtain a map view for this location. Please
See Google Maps for any possible street views and other mapping views.
We cannot obtain a street view for this location. Please
See Google Maps for any possible street views and other mapping views.
| Monthly Principal + Interest: | $ |
| Monthly tax: | $ |
| Total Payment: | $ |
These amounts are estimates and do not take into consideration other expenses such as PMI, etc.. This is only an estimate.
Description
Mixed use building situated on a corner/oversized lot in Lincoln Park, measuring 30x125 and zoned RT-4. The property comprises three units: two apartments and one commercial tenant, with no vacancy in over 30 years. The commercial lease (Tapster), operates under a modified lease, with the tenant responsible for real estate tax and insurance costs proportional for increases over the 2018 base year rates. Additionally, the commercial tenant is accountable for all mechanicals in their space and snow removal for the building. Apartment 2F, a 3-bed 2-bath duplex with a true primary suite, is leased until April 2025 for 2700/month. Apartment 2R, a condo-quality 2-bed 2-bath duplex with a rain shower and fireplace, is rented for 2700/month until September 1, 2025. Both units offer considerable potential for increased rental income. The property enjoys proximity to Jonquil Park and DePaul University. Tapster, the commercial tenant, pays 5,402 per month plus any water bill costs exceeding 200 (billed every 2 months), with the lease expiring in June 2027 and an option to renew for an additional 5 years thereafter. The lease renews annually every July with a 2.5 increase per annum. Tapster also contributes additional rent proportional to insurance and tax increases as stated above. The property's expenses include 2022 taxes amounting to 21,597, insurance costs of 11,412 (potentially lower if shopped), and an annual water expense of 1200. The property currently operates with a Tavern license. The license is permanently affixed to the property, meaning the current tenant will need to either transfer it to a new tenant (subject to landlord approval) or to the building owner upon vacancy. Tenants cover all heat and gas expenses, while Tapster manages snow removal and landscaping. The furnaces in both units are new, with the 2R unit's furnace being just 2 months old and the 2F unit's furnace being 2 years old. Additionally, all three AC condensers are from 2017 or newer. With recent developments such as Avli Taverna and Love Street joining the block, and Lincoln Commons nearby, the location is hard to beat.Other Information
1059 W Wrightwood Avenue, Chicago, IL, 60614 is a commercial sale listing of 4,235 sqft on a lot of Unknown. This commercial sale listing has 0 bedrooms, and 0 baths. The map for this location can be viewed on Google maps at
1059 W Wrightwood Avenue, Chicago, ILListing offered by: Jameson Real Estate LLC - gjohnson@jameson.com - (312) 335-3291
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