7308 Crandon Avenue, Chicago

$1,545,000

0 Beds
0 Baths
19,100 Sqft
0 Acres
0 Garages

34-unit mixed-use property in Chicago's South Shore neighborhood. The Subject property is a three-story, masonry, corner building that is four blocks away the South Shore Cultural Center, South Shore Golf Course and five blocks from the shores of Lake Michigan. There are 20 Studios and 7 1bed/1bath units. Ownership acquired the Property in July-2016. Since acquisition, ownership has fully renovated 13 of of the apartment units and continues to renovate units as tenant move-outs occur. Additionally, ownership is in the process of getting the second of two small (800-SF), vacant commercial spaces rent-ready. Lastly, much of the heavy-lifting was completed by the seller, including full tuck pointing, all new lintels throughout the building, along with a new roof and new rear porch systems. The property is 88% occupied. Currently, there are a total of four vacant units - two residential apartments and the two small commercial units. All apartment units feature hardwood floors, with tile in the kitchens and baths. Each apartment is separately heated by way of baseboard units. The building has a central hot water tank, located in the building basement area. There are several large, clean, dry basement areas that provide investors with a great opportunity to add value in the form of tenant amenities, such as storage units and laundry facilities. The rear of the property contains a loading/parking area as well as 6 individual garages.

Essential Information
MLS® #10569588
Price$1,545,000
Square Footage19,100
Acres0.00
Year Built1923
TypeCommercial
Sub-TypeMixed Use
StatusActive
Community Information
Address7308 Crandon Avenue
AreaCHI - South Shore
CityChicago
CountyCook
StateIL
Zip Code60649
Amenities
Parking Spaces6
Interior
HeatingCentral Bldg Heat, Steam
CoolingNone
Stories3
Exterior
ExteriorBrick
ConstructionBrick, Concrete
FoundationConcrete
Office

Atlas Asset Management Realty LLC

Property History
Status Changed from Price Change to Active
Status Changed from Active to Price ChangePrice Reduced from $1,595,000 to $1,545,000
Status Changed from New to Active
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Listing information last updated on March 30th, 2020 at 9:20pm CDT.