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$ 725,000
Est. payment /mo
New
2812-2814 W 55th ST Chicago, IL 60632
5,850 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 5,850 sqft
Price per Sqft $123
MLS Listing ID 12780054
Year Built 1937
Annual Tax Amount $6,630
Tax Year 2025
Lot Dimensions 129 X 53
Property Sub-Type Mixed Use
Property Description
2812-2814 W 55th St presents an opportunity to acquire a mixed-use investment property in Chicago's Gage Park neighborhood. The approximately 5,850 SF building sits on a 6,800 SF lot and features three commercial spaces, one residential apartment, and approximately 1,650 SF of vacant storage space offering additional income or redevelopment potential. The property currently generates approximately $63,600 in Total annual rent with an estimated NOI of $48,090, representing an approximately 6.63 cap rate at the $725,000 asking price. Existing occupants include established neighborhood businesses, including Cricket, Michoacana, and Herbalife, along with a 2-bedroom, 1-bath apartment. Several tenants have expressed interest in remaining long term. The Cricket space and apartment are approximately 1,400 SF each, while the two smaller commercial spaces are approximately 700 SF each. The property is zoned B3-1, providing flexibility for commercial and residential uses. Based on the lot size and zoning, there may be potential to convert the vacant storage area into an additional residential unit, subject to City of Chicago approval and buyer verification. Additional upside includes leasing the vacant 1,650 SF space, formalizing or extending existing tenant leases, and potentially increasing residential income. A new roof was installed over 2814 W 55th St in 2025.
Location
State IL
County Cook
Area Chi - Gage Park
Zoning RTAIL
Interior
Cooling Central Air
Fireplace N
Exterior
Utilities Available Electric to Site, Natural Gas Available, Sewer Connected, Water Available
Roof Type Membrane,Reflective Coating,Rubber
Building
Dwelling Type Mixed Use
Sewer Public Sewer
Water Municipal Water
Structure Type Brick
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Listed by Sebastian Gomez of Trelleum LLC