• 2156 W Wellington Avenue Chicago, IL 60618

  • $1,500,000
  • 11
    Bed(s)
  • 4
    Baths
  • 3,700
    Sq Ft
  • Listed By: Kale Realty
  • Source: Midwest Real Estate Data LLC (MRED)

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.

Property Type :

Residential

County :

Cook

Style :

Residential

Property Details

 

Bedroom Information

Total Bedroom: 11

Room Types: Kitchen, Bedroom 5, Bedroom 6, Bedroom 7, Bedroom 8, Bedroom 9, Bedroom 10, Bedroom 11

Bathroom Information

Total Baths: 4

Full Baths: 4

Room Information

Rooms Total: 16

Heating & Cooling

Heating: Natural Gas

Cooling: Central Air, Partial

WaterSource: Lake Michigan

Building Information

Year Built: 1992

Lot Information

Lot Dimensions: 8383.4

Lot Size: Less Than .25 Acre

Property Information

Property Type: Residential

Sub Type: Detached Single

Type Detached: 1.5 Story

Listing Price Information

Original List Price: $1500000

Tax Information

Annual Tax: $28336

Tax Year: 2022

Parcel Number: 14301100370000

Parking Information

Total Parking: 8

Parking: Space/s

Is Parking Included in Price: Yes

Homeowners Association Information

Included Fees: None

School Information

Senior High School: Lake View High School

Utility Information

Sewer: Public Sewer

Water Source: Lake Michigan

Location Information

City: Chicago

Direction: 2154/2156/2158 W. Wellington at corner of Leavitt & Wellington

Nearby Home Value

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ByOwner last updated this listing 05/08/2024 @ 18:20

MLS: MRED #11996824
LISTED BY: John Willis, Kale Realty
SOURCE: Midwest Real Estate Data LLC (MRED)
Buyer Agency Compensation: 2.0% -$495
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.

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