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Tools
Size
Financial
$1,800,000
Change Currency
$6,693
Annual taxes
Listing Details
Land
Immobilienart
7145100
Web-ID
12049149
MLS-ID
31
Days Posted
Beschreibung
6943 N Western Avenue, , Chicago, IL 60645
Excited to offer the unique redevelopment opportunity located at 6943 N. Western Ave. in Chicago's vibrant West District neighborhood. This property spans 9,975 square feet and is zoned C1-2, providing various commercial development possibilities. Property Details: Location: 6943 N. Western Ave. is situated in a bustling commercial corridor, offering great visibility and accessibility. The surrounding neighborhood is a blend of residential and commercial spaces, ensuring a steady flow of potential clients and customers. Zoning: The C1-2 zoning allows for a diverse range of potential business uses, making the site versatile for various development visions. Land Area: The property has 9,975 square feet of prime land, offering ample space for creative redevelopment projects. Cell Tower Lease: Lease Terms: The cell tower lease, located on the southeast portion of the property, provides a reliable revenue stream. It began in January 1997 and was renewed in May 2015 for 28 years. As of June 2023, the lease has 20 years remaining, ensuring a stable and long-term source of income. Current Rent: The current annual rent is $39,675. According to the lease terms, the rent is upgraded every five years, with the next increase scheduled for June 2028. At that point, the rent will increase to $45,626 per year, providing a consistent and growing income for the new owner. Investment Opportunity: Land Purchase Price: The property is available for a competitive price of $900,000, offering significant potential for a high return on investment through strategic redevelopment. Cell Tower Lease Purchase Price: The cell tower lease can be acquired separately for an additional $900,000. This allows investors to secure an immediate revenue stream with predictable increases in the future. Overall, 6943 N. Western Ave. is a prime investment opportunity for savvy developers and investors. It offers versatility, a strategic location, and a consistent source of revenue through the existing cell tower lease.
This is an Active listing.
Broker Office Phone Number: 312-216-2422
Copyright © 2024Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
This is an Active listing.
Broker Office Phone Number: 312-216-2422
Copyright © 2024Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Preisentwicklung
date | Preis | variance | type |
---|---|---|---|
5/7/2024 | $1,800,000 | 89.47 % | Gelistet |
11/14/2023 | $950,000 | - | nicht verfügbar |
4/18/2023 | $950,000 | - | Gelistet |
Listing By: Keller Williams ONEChicago via Data Source: Midwest Real Estate Data, LLC
Listing-Agent: Anthony Hardy