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Bill Sardegna - Real estate in Chicago, IL 60660

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$1,450,000

June 10th, 2015 10:44 pm
7,711 ft²
Bedrooms: 6
Cash on Cash return, year one: 17% (AS-IS). The property is located on the trending Devon Avenue Corridor in Rogers Park, steps from Loyola University, Edgewater, Lake Michigan, and the Loyola Red Line train stop. Multiple luxury apartment developments nearby are under construction making this a tremendous value-add opportunity for investors. 1234 Devon Avenue is a mixed-use building on a corner lot with parking and full basement. The building's unit mix consists of two three-bedroom/one-bathroom units 1,300-1,500 square feet in size and one retail space 4,911 in total square feet with a custom vault. Retail space is occupied by Cash America, a publicly traded company and national credit tenant. The lease has attractive three percent annual rent bumps effective each April and is likely to renew due to a grandfathered trade license (lease expires 2022). The best use for this property includes duplexing an additional level to the apartments and remodeling the units to condo quality to maximize cash flow. East Rogers Park near Loyola University is one of Chicago's most sought after communities for homeowners and renters including an attractive mix of both students and young professionals. Investors are actively seeking rare value-add opportunities in prime Chicago locations like this property.

$625,000

June 10th, 2015 10:44 pm
2,800 ft²
Bedrooms: 2
$25,000 Price Reduction Own a piece of history by buying the mixed-use building and real estate at 5600 N Ashland Ave Chicago IL and start your own bar or restaurant at this rare corner location in Andersonville. Huge patio and separate beer garden for additional revenue! Sold AS-IS, Real Estate Only (buyer responsible for their own license). 5600 North Ashland Avenue is a two-story mixed-use restaurant bar with one large two-bedroom apartment. The subject property is located at the lighted intersection of Ashland Avenue and Bryn Mawr Avenue, just one block west of Clark Street and steps from the heart of Andersonville shops, nightlife, and historic commercial district. The subject property operates as Edgewater Lounge, a well-known neighborhood name for good food, spirits, and spacious outdoor terraced seating. The building has been operating as a restaurant bar predating the prohibition era, offers 1,700 square feet of retail space, full galley kitchen, cooking equipment, and a cozy fireplace in the back lounge. The second floor apartment is 1,100 square feet in size and has 625 square foot deck plus a backyard. The property offers street parking and two paved spots. Andersonville is a neighborhood within western Edgewater known for its diversity and unique speciality businesses blended with popular national retail stores. Investors are attracted to Andersonville because of the tremendous support they receive from both the Alderman's office and proactive small business development groups.
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