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2156 W Wellington Avenue, Chicago, IL 60618

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For Sale

$1,500,000

11 beds • 4 baths • 3,700 sqft

Estimated Payment

$      /mo. †

APR for 30 years

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  • Single Family Detached
    Property type

  • $405.41
    Price per square foot

  • 31-40 Years Old
    Age

Explore this Property

Prime Roscoe Village location corner lot with existing commercial construction all masonry 2 level building, a total of 7400 sqft finished living space (3700 above grade/3700 below grade). Built by Novak Construction, completed in 1993 as a meeting, office and recreational space, now converted to a residential type (work/living) space and currently rented to a single tenant who pays gas, electric, and for 8 car parking in the rear. This premium sunny corner property boasts 3 lots with 3 separate pin numbers [70' X 120'] measuring 8383.4 in total land SQFT. This site is ideal for a future development opportunity now offering three separate redevelopment options: 1) Adding an additional entire 2nd level to existing structure and converting to 3 huge 3700 sqft rental type units. 2) Tear down existing structure, develop 3 new SFH's on the 3 separate lots. 3) Redevelop as an all masonry 4-duplex unit 3-story new construction (38'-6" height allowance), as per plans included with the sale. The RT-3.5 Re-Zoning Amendment has been completed with an approved plan offering 4 new construction 2930 sqft condos, with a total of 11,718 sqft finished interior space including all variances and 6-car parking garage. SEE ADDITIOINAL DOCUMENTS FOR PLANS. The current building is rented as a live/work space, with 11 bedrooms, 4 large baths, long term terrific tenants on a month-to-month type lease, paying $8130/mo. Annual NOI: $65,639. Rent is set to increase to $8335/mo on 6/1/24.
MLS# 11996824

Courtesy Of Kale Realty

(312) 939-5253

Property Features

  • Age
    31-40 Years Old
  • Architecture Style
    Other
  • Cooling System
    Central A/C, Partial
  • Exterior Type
    Block
  • Heating Fuel
    Natural Gas
  • Roof Type
    Unknown
  • Rooms
    Bedroom, Full Bath, Kitchen

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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