Mixed Use


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Location: 12842 South Western Avenue, Blue Island, IL, 60406
UPCOMING AUCTION  Wed, July 22 - Fri, July 24

On-Site Inspection RSVP REQUIRED: Friday, 7/10/2020 from 10AM-Noon; Contact Dave Makowski at 312-927-2757

Suggested Opening Bid: $260,000.00

Buyer's Premium: 6% ($40,000 minimum applies)

Cooperating Broker's Commission: 2%

Built: 1927

Lot Size: Approx. 13,888 SF

Building Size: Approx. 16,240 SF

2018 Taxes: $22,968.57

PIN #: 24-36-213-011-0000

2018 Taxes: $2,172.20

PIN #: 24-36-213-022-0000

2018 Taxes: $0

PIN #: 24-36-213-012-0000

Zoning: C1; Central Area Commercial

Traffic Count: 7,410 VPD

Electrical: 400 Amps 

Heating: Forced warm air in retail; ceiling-suspended radiant space heaters in warehouse

Air Conditioning: Forced air, individual units

Number of Freight Elevators: 1

This income producing, approx. 16,240 sf mixed use building is located in a well stabilized section of Western Avenue in Blue Island, near Interstate 57, only 15 miles from downtown Chicago.

It has an approx. 1,600 sf retail storefront leased to a long term tenant (hair salon) and two leased residential units (a one bedroom unit and a two bedroom unit), all with strong rental history. It offers an approx. 12,400 sf vacant warehouse with approx.14' ceiling heights (formerly occupied by the now retired owners’ food distribution business).  The warehouse has two floors (approx. 5,800 sf each) plus a full floor basement (approx. 6,500 sf) with all floors accessible via stairs and freight elevator.  The second floor  of the warehouse is bow trussed with recent repairs and upgrades.

The rear has a commercial drive through garage with alley access.   Adjacent is a 12 space, gated parking lot. The roof was replaced in the last 9 years and all mechanicals and elevator recently maintained, including a new boiler.  Sellers have retired.  Title is clear.  Recent inspection and appraisal  available. The warehouse is vacant, clean and ready for the next new venture!

Title is clear. Sellers have retired and closed the food distribution business.  The warehouse portion of the building is vacant, clean and ready for the next new venture!

Pre-Auction Bids are Highly Encouraged!

**3 STEPS REQUIRED TO REVIEW PROPERTY DOCUMENTS IN THE VAULT: 1) REGISTER ON OUR WEBSITE; 2) GO TO THE DOCUMENTS TAB, CLICK ON DOCUMENT & ACCEPT THE CONFIDENTIALITY AGREEMENT TERMS BY ENTERING YOUR PASSWORD; 3) DOWNLOAD THE DOCUMENT 

View Property Flyer (PDF)

View Purchase Sale and Agreement (PDF)

 

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Location: 6341 W. Belmont Avenue, Chicago, IL, 60634
THIS AUCTION IS CLOSED

Mixed Use with Retail & 3 Apartments on Belmont Avenue in Chicago, IL

This property is part of a 6 property portfolio including 27045 W. Grass Lake Road, Antioch, IL 60002; 400 & 406 East 103rd Street, Chicago, IL 60628; 2601 S. River Road, McHenry, IL 60051; 109-119 W. Grand Avenue, Melrose Park, IL 60164; 2410 W. Washington Street, Waukegan, IL 60085. Make a pre-auction offer on all 6 properties as a package or on any individually.

Minimum Bid/Published Reserve Price: $363,001

Buyer's Premium: 6%

Cooperating Broker's Commission: 2%

Lot Size: Approx. 3,150 SF

Building Size: Approx. 3,372 SF

Leased: 100% 

2017 Taxes: $6,298.82 

PIN #: 13-29-100-012-0000

Zoning: B3-1

Traffic Count: 15,500 VPD

NOI: $29,040

Mixed use with 1 first floor retail unit and 3 apartments on the 2nd floor. Strong rental history with leases through 2019; renewals anticipated.

ABSOLUTELY NO SOLICITATION TO THE TENANTS; ALL PROPERTY INQUIRES MUST BE PRESENTED TO AUCTIONWORKS

View Property Flyer (PDF)

View Terms and Conditions (PDF)

View Purchase and Sale Agreement (PDF)

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