5256 W Irving Park Road,Chicago, IL 60641
Chicago, IL 60641
Description
5254-58 W Irving Park Rd is well located, value-add mixed-use building in Portage Park. The property features (7) total apartments and (2) commercial spaces with full basements. The apartments feature (4) 1br/1ba apartments on the Lockwood side, and then on Irving Park above the commercial, there are (2) 1br/1ba & (1) 2br/1ba apartments. The apartments are heated by a boiler with window AC units. The unit interiors are well kept, but primarily vintage with some Chicago charm. This boasts an excellent opportunity for new ownership to capitalize on increased rents throughout the market through cosmetic improvements. The commercial spaces are occupied by Saravale Meat Market & a local attorney office. Saravale has been in this location for over 25 years. The property has a new tear off roof that was completed within the last two years. Lastly, 5254-58 W Irving Park Rd benefits from a reduced assessed value through the AHSAP, providing a lower assessed value. 2 units must remain affordable at 60% of AMI and filed as such yearly to continue to the program. This is an excellent opportunity on a corner lot in an appreciating market. Your clients will not be disappointed they purchased this asset.
Details
| MLS # | 12754460 |
|---|---|
| Listing Type | For Sale |
| Style | Mixed Use |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1920 |
| Days On Site | 28 |
| Listing Provided By | Horvath & Tremblay IL, LLC | John Preston |
Features
| SQ Feet | 9,472 |
|---|---|
| Story(s) | 2 |
| Units | 9 |
| Zoning | OTHER |
| Acreage | 0.13 |
Interior
| Cooling | Central Air, Window Unit(s) |
|---|
Exterior
| Construction Materials | Brick |
|---|
Utilities
| Electric | Separate Meters |
|---|
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Annual Amount | 9640.18 |
Area Information
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60641 |
| Area | CHI Portage Park |
| Listing VS Median (in 60641) | |
Price: $1,350,000 low | high Med: $446,500 sqft: 9,472 low | high Med: 1,582 $ / sqft: $143 low | high Med: $285 On site: 28 low | high Med: 70.5 | |
Market Activity 60641
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Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60641 |
| Area | CHI Portage Park |
| Listing VS Median (in 60641) | |
Price: $1,350,000 low | high Med: $446,500 sqft: 9,472 low | high Med: 1,582 $ / sqft: $143 low | high Med: $285 On site: 28 low | high Med: 70.5 | |