1556 North La Salle Drive, Chicago

$2,700,000

5 Beds
0 Baths
0 Acres
0 Garages

CASH COW!!! THERE IS A $6,000 / PER MONTH SIGN ADVERTISEMENT ON THE SIDE OF THE BUILDING THAT HAS A NEW LONG TERM LEASE!!!!! This property is a cash cow and can generate approximately $382,000 in annual revenue if the residential units are converted to Airbnb or short-term rentals. Please ask listing agent for the forecasted financial statements. GREAT INVESTMENT! 15% cash on cash return, 10%+ = cap rate. Listing Agent specializes in Airbnb / short-term rentals in the City of Chicago. Just ask for more information. The subject property is comprised of a +/- 2,500 SF land site improved with a +/- 6,300 SF 2.5-story, brick, mixed-use (commercial and residential) building in the Old Town neighborhood of Chicago. The ground/garden level of the subject is comprised of a rented commercial storefront unit totaling approximately 2,000 SF. The first floor is built out for an office unit in the front and residential apartment unit in the rear, with each unit averaging approximately 1,000 SF. The top floor consists of a single, large residential apartment unit that spans the entire floor and measures approximately 2,000 SF. The site is zoned B3-5, Community Shopping District.

Essential Information
MLS® #10624312
Price$2,700,000
Bedrooms5
Bathrooms0.00
Acres0.00
Year Built1906
TypeResidential
Sub-TypeTwo to Four Units
StatusActive
Community Information
Address1556 North La Salle Drive
AreaCHI - Near North Side
CityChicago
CountyCook
StateIL
Zip Code60610
Interior
HeatingForced Air
BasementNone
Exterior
ExteriorBrick
Additional Information
ZoningCOMMR
Listing Details
OfficeWorth Clark Realty
Property History
Status Changed from New to Active
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Listing information last updated on June 5th, 2020 at 6:35am CDT.