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40 Unit SRO + Commercial SpaceAvailable Space

3022 S Archer Ave, Chicago, Illinois 60608

3022 S Archer Ave space for

Last Updated: 10/24/2019
Property Type:Building
Listing Type:Sale
Size:12,500 SF
Price:$850,000.00
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3022 S Archer Ave - Image 1

Listing Overview

Listing Description

Located on a thriving retail & residential street. Just 2 blocks from CTA's Ashland Ave "L" stop. Potential to expand room count on 4th floor. Brand new boiler, newer roof, full basement. Parking lot next to property is open to residents. High Cash Flow Investment Opportunity. This 40-Room SRO plus Commercial Space has loads of additional space, which makes it appealing for both affordable buyers and investors. A finished basement with washer/dryer, brand new boiler, newer roof, 80 gallon hot water heater, and fire alarm system consistent with the SRO requirements. The vacant 4th floor attic features an open floor plan with windows and exposed brick, which could be developed into additional income-producing rooms. The commercial/residential space is a two story duplex loft that can serve as both an owner or live-in manager's unit and retail space creating further income potential. A large parking lot adjacent to the property is owned by the city and open for residents to use.. Ideally located in the Bridgeport neighborhood with public transportation, restaurants, Mariano's, Target, and coffee shops walking distance from this property. U.S. Cellular Field and Chinatown are just 1 mile away. This ethnically diverse neighborhood is a happening commercial, entertainment, and arts destination. Bridgeport is increasingly environmentally friendly with streetscaping projects including new pavers, sidewalks, bike racks, and trash receptacles. In addition is an increasing number of parks with native vegetation and wetlands, cat walks, and views of downtown from the manmade summit affectionately called "Mt. Bridgeport."

Listing Details

Property Type:Building
Listing Type:Sale
Size:12,500 SF
Price:$850,000.00
Floor Number:None
Primary Use:Multifamily

Building Overview

Building Details

Primary Use:Multifamily
Year Built:1868
Class:
Size:12,500 SF

Location

3022 S Archer Ave, Chicago, Illinois 60608

Contact

D

Dawn Overstreet

Assistant Vice President

dawn.overstreet@svn.com

Direct: 617-817-6466

Listing Inquiry