Active

7701 W Belmont Avenue

Elmwood Park IL, 60707

$1,195,000


$213.39 per sqft

Active

5,600 sqft

Other

Built in 1950

Courtesy of Compass

This one-of-a-kind investment opportunity is located in the heart of Elmwood Park's bustling downtown. The property is a mixed-use building with 100 percent occupancy that offers incredible potential for investors. Upstairs, there are two fully rehabbed residential units, each featuring 2 BED/ 1 BATH with in-unit washer/dryer. Both units are fully occupied, with tenants responsible for their own gas and electricity, ensuring consistent and reliable rental income. The downstairs commercial storefront is currently utilized as a cafe and gaming room, providing a dynamic and popular space for the community. The commercial tenant is responsible for water, gas, electricity, and repairs. Tenant is open to extending their lease for an additional 5 to 10 years, offering a secure and stable long-term investment opportunity. Additionally, there is an extra commercial space that is currently leasing as a banquet facility or venue, complete with its own separate PIN number, address and entrance. The basement provides ample storage space, adding further convenience and functionality to the property. The building also features an outdoor courtyard and parking, which make it ideal for hosting events such as private parties or other gatherings. These features add further value and versatility to the space. The landlord is responsible for paying property taxes, while the current setup minimizes other maintenance responsibilities, creating a low-effort yet profitable investment opportunity. With its prime location, multiple revenue streams, and endless potential, this building is truly a gem. Don't miss your chance to own this remarkable property and take advantage of its many possibilities.

12214986

MLS ID

November 21, 2024

Listed

November 27, 2024

Updated

Map

7701 W Belmont Avenue
Elmwood Park IL, 60707

Interior Features

Total Stories

2


Fireplace

No


Cooling

Yes


Cooling Description

Central Air, Central Individual


Heating

No

Exterior/Building Features

Lot Size

0.11 Acres

Other Property Details

Area Name

Elmwood Park


Taxes

$20,959


Tax Frequency

Annually


Days on Market

6


Garage

No


View

No


County

Cook


Municipality

Leyden


Pool

No


Zoning

RTAIL

Courtesy of Compass, Svitlana Creadon,
Listing Contact: 773-225-9027 

The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than Dalton Home Collective are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

Based on information submitted to the  MLS GRID for MRED 11/27/2024. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

©2024 Listings Courtesy of MRED as distributed by MLS GRID. All rights reserved.

Data last updated 6:37 AM UTC, 11/27/2024

 

 

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