1303 W Chicago Ave,Chicago, IL 60642
Chicago, IL 60642
Description
Pleased to present the opportunity to purchase 1303 W Chicago Ave, Chicago, IL-a mixed-use investment in the heart of West Town, Chicago. Located on Chicago Ave, directly across from Eckhart Park and Field House, and just steps from the Chicago Blue Line stop and Milwaukee Ave, this property offers high visibility and strong rental potential. Commercial Space Features: 1,100 SF open retail space with 11-foot clearance ceilings, white tin ceilings, and original wooden floors, creating a unique and character-rich setting. Previously used as a photographer's studio, the space includes a dark room for film development. Zoned B1-2, it accommodates a variety of business types, including art galleries & studios, boutique retail & showrooms, cafes, specialty coffee or juice bars, creative offices & design studios, wellness & beauty services, tattoo & piercing studios, photography & content creation studios, and specialty retail. The average lease rate for similar commercial spaces in the area is 29.00 dollars per square foot (PSF), with lease types such as MG or NNN, providing flexibility for ownership. In this sought-after area, leases typically start at a five-year minimum term, ensuring stability and long-term rental income. Second-Floor Residential Unit: A spacious two-bedroom, one-bathroom apartment overlooking Chicago Ave, featuring a full HVAC system (forced hot and cold air), original wooden floors, an ample-sized kitchen, and separate living and dining rooms. The layout is designed to maximize openness, allowing natural light and movement to flow seamlessly throughout. A private wooden deck and large backyard provide an inviting space for relaxation or entertaining. Residential rental rates in West Town for similar two-bedroom units typically range between two dollars+ to three dollars+ per square foot, depending on unit size, location, and amenities. Neighborhood Highlights: This rapidly growing area is experiencing significant development, with new projects enhancing the long-term appreciation potential and increasing demand for commercial and residential spaces. The property is steps from popular restaurants, cafes, and local shops, fostering a dynamic atmosphere. Excellent transit access includes the 66 Chicago Avenue CTA bus stopping at the door and the Chicago Blue Line station just two blocks away, with easy access to I-90/I-94 for added convenience. The thriving West Loop, known for its innovation, dining, nightlife, and commercial developments, is within walking distance. Additionally, the property is directly across from Eckhart Park and Field House, offering green space and community amenities. With strong rental potential, high visibility, and a prime location, this property presents a rare opportunity for investors, business owners, and those seeking a dynamic live/work space in one of Chicago's fastest-growing neighborhoods. Don't miss your chance to own this exceptional mixed-use building in the heart of West Town. Note: Rental rates are based on current market listings as of March 1, 2025, and may vary based on specific unit features and market conditions.
Details
| MLS# | 12313755 |
|---|---|
| Listing Type | For Sale |
| Style | Mixed Use |
| Sub-Type | Resale |
| Status | Active |
| Year | 1888 |
| Days On Site | 91 |
| Listing Provided By | Keller Williams ONEChicago | Manuel Torrejon-Regalado |
Features
| SQ Feet | 2,080 |
|---|---|
| Story(s) | 2 |
| Units | 2 |
Interior
| Cooling | Central Air, Window Unit(s) |
|---|
Taxes
| Property | 9556 |
|---|
Market Activity 60642
Request a showing
Request a showing
Contact
Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60642 |
| Area | CHI West Town |
| Listing VS Median (in 60642) | |
Price: $556,800 low | high Med: $507,500 SqFt: 2,080 low | high Med: 1,339 $ / SqFt: $268 low | high Med: $381 On site: 91 low | high Med: 51.000000 | |