5724 W Diversey Avenue, Chicago, IL 60639

Active · For Sale · Office/Tech

$274,900

5724 W Diversey Avenue, Chicago, IL 60639

Units
7
Price / Unit
$39,271
Est. Cap Rate
3.64%
Est. GRM
11.45

Property Overview

Outstanding Owner-User or Investor Opportunity! Situated on highly desirable, high-traffic Diversey Avenue, this commercial property offers exceptional visibility and endless potential. The building is currently configured into seven separate commercial tenant spaces, with all tenants on flexible month-to-month leases, providing immediate flexibility for an owner-user, investor, or developer. The property does require renovations and is being sold as-is, making it an ideal opportunity for buyers looking to add value. Whether you choose to renovate the existing building and continue operating it as an income-producing investment, lease the spaces in their current configuration with improvements over time, or pursue a complete redevelopment, the possibilities are substantial. Zoned B3-1, the property offers excellent redevelopment potential in one of Chicago's established commercial corridors. This is a rare chance to acquire a property with current income, future upside, and the flexibility to execute your vision in a prime location.

Investor Resource

Property Intelligence

Financial Snapshot

Reported Annual Income
$24,000
Reported Annual Expenses
$14,000
Estimated NOI
$10,000
Estimated Cap Rate
3.64%
Estimated GRM
11.45
Annual Taxes
$12,058 (2024)

Property Details

Units
7
Building Size
2,860 SF
Lot Size
3,401 SF
Lot Dimensions
120 X 26
Stories
1
Year Built
1965
Building Age
Older
Construction
Brick
Roof
Flat, Rubber
Zoning
OFFIC
Parcel Number
13292290370000

Operations & Utilities

Heating
Central Bldg Heat
Cooling
Central Air
Electric
Circuit Breakers
Possession
Immediate

Location & Use

County
Cook
Market Area
Chicago - Belmont Cragin
Township
Jefferson

Reported figures come from the listing source. When shown, estimated NOI and cap rate use reported income and expenses; estimated GRM uses asking price and reported income. All figures should be independently verified.