4369 N Elston AVE Active Save Request In-Person Tour Request Virtual Tour
Chicago,IL 60641
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 5,034 sqft
Price per Sqft $168
MLS Listing ID 12373775
Year Built 1925
Annual Tax Amount $10,862
Tax Year 2023
Lot Dimensions 0.67 ACRES
Property Sub-Type Mixed Use
Property Description
A RARE MIXED-USE INVESTMENT OPPORTUNITY IN THYE HEART OF THRIVING IRVING PARK... Offered for the first time in nearly 30 years, this is an exceptional opportunity to acquire a well-maintained, income-generating mixed-use property in one of Chicago's most rapidly appreciating neighborhoods. Located along the high-traffic Elston Avenue corridor, this turnkey asset delivers the perfect combination of residential stability, commercial upside, and pride of ownership. Lovingly cared for by the same owner since 1996, the building has been thoughtfully maintained with affordability, ease of management, and community connection in mind. The ground-floor commercial space has served as a neighborhood sanctuary-a warm, welcoming destination where patrons found not just service, but belonging and friendship. PROPERTY HIGHLIGHTS: (2) UPDATED RESIDENTIAL UNITS | Each 2-bedroom, 1-bath apartment offers spacious layouts and modern finishes ideal for today's renters. Comparable second-floor units in similarly trafficked areas have recently rented between $1,700 and $1,850 per month, demonstrating strong demand and income potential, ESTABLISHED COMMERCIAL COMPONENT | The 2,500+ SF fully built-out bar presents a flexible opportunity for hospitality, retail, or creative reuse. Recent short-term commercial leases in the area have ranged from $18 to $23/SF/YR, equating to $3,750 to $4,800 per month in potential gross rent, TURN-KEY INVESTMENT | Recent updates make this a move-in-ready solution for both residential and commercial tenants, minimizing capital expenditures for new ownership, PRIME LOCATION | Nestled in the heart of Irving Park, the property benefits from excellent public transit access (Blue Line, Metra, CTA), proximity to the Kennedy Expressway, and walkable access to local amenities, restaurants, and services. WHY INVEST HERE? ...Irving Park continues to demonstrate strong fundamentals, with increasing property values, short market times, and ongoing demand for both residential and commercial spaces. Its walkability, historic character, and diverse community appeal to a wide range of tenants, contributing to consistent occupancy and upward-trending rents. This mixed-use property offers investors: (1) Multiple income streams, (2) Stable rental demand, (3) Attractive rental comps, and (4) Long-term appreciation potential. Whether you're looking to expand your portfolio, establish a business, or own a piece of a truly connected community, this property presents a compelling opportunity in one of Chicago's most dynamic neighborhoods. Contact us today to schedule your private tour and explore this rare chance to own a legacy asset in ever-growing Irving Park.
Location
State IL
County Cook
Area Chi - Irving Park
Zoning OTHER
Interior
Cooling Central Air,Central Individual
Flooring Wood
Fireplace N
Exterior
Utilities Available Electricity Available,Natural Gas Available,Sewer Connected,Water Available,Cable Available
Roof Type Reflective Coating
Building
Dwelling Type Mixed Use
Water Municipal Water
Level or Stories 2
Structure Type Brick