Price Reduced Listing
Description
Well-located mixed-use building on high-traffic Pulaski Road - a hard corner with steady visibility in North Lawndale - offering three residential units above ground-floor commercial space. Excellent access to public transit, the Illinois Medical District, and the I-290 corridor, in a submarket drawing continued public and private investment along the Pulaski and Ogden corridors. The property suits an investor seeking diversified income or an owner-operator who wants to activate the ground-floor commercial space while leasing the units above. Strong value-add potential for a buyer who restores the storefront to commercial use or pursues the appropriate approvals for its current configuration. Unit configuration / use disclosure: Building comprises three residential units plus a ground-floor commercial unit (four total). The ground-floor commercial space is currently being used residentially, which is a non-conforming use. Buyer to independently verify unit count, zoning, permitted use, and legal occupancy with the City of Chicago and to satisfy itself as to any steps required to conform or continue the current use. Tax advantage: The 2025 assessment was successfully appealed at the Cook County Board of Review, reducing the assessed value from 48,063 to 32,013 - roughly a 33 pct reduction and an estimated annual savings of about $3,100. Post-appeal real estate taxes are projected in the ~$6,100-$6,400 range, meaningfully improving NOI and buyer returns. A rare mixed-use hold in an appreciating West Side submarket. Financials and lease summary available on request.
Details
| MLS # | 12741395 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1904 |
| Days On Site | 17 |
| Listing Provided By | Chicago Real Estate Authority | Scott Siegel |
Features
| Bed(s) | 12 |
|---|---|
| Bath(s) | 4 |
| Basement | Y |
| Acreage | 0.14 |
Interior
| Rooms Total | 24 |
|---|---|
| Heating | Natural Gas |
Exterior
| Roof | Flat |
|---|---|
| Construction Materials | Brick, Stone |
Parking
| Parking Features | Yes, Owned |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Sidewalks, Street Lights, Street Paved |
|---|
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Annual Amount | 9692 |
Area Information
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60623 |
| Area | CHI North Lawndale |
| Listing VS Median (in 60623) | |
Price: $540,000 low | high Med: $232,450 On site: 17 low | high Med: 44.5 | |
Market Activity 60623
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Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60623 |
| Area | CHI North Lawndale |
| Listing VS Median (in 60623) | |
Price: $540,000 low | high Med: $232,450 On site: 17 low | high Med: 44.5 | |
