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Listed by Bruce Hellerof Coldwell Banker Realty
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Est. payment /mo
Active
2931 W Madison ST Chicago, IL 60612
3,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 3,000 sqft
MLS Listing ID 12512185
Year Built 1899
Annual Tax Amount $15,577
Tax Year 2024
Lot Dimensions 24 x 124
Property Sub-Type Industrial
Property Description
Solid brick commercial building of approximately 3,000+ SF covering the entire lot. The property features storm shutters protecting the storefront facade. The interior is currently framed for two offices with two (2) roughed in washrooms. The building is set up for 400 AMP service (electric line at the pole recently cut, copper stolen, and will need reconnection). The building currently has no power - you must bring a flashlight for showings. The structure will require significant tuckpointing and masonry work. Many coping stones at the roofline are missing. A new HVAC system will be needed. A section of the wood floor needs to be replaced. The property is located within a Federal Opportunity Zone, providing potential tax incentives and accelerated depreciation for qualified improvements. The condition of the property is reflected in the price. This is an "AS IS" sale. This is an excellent opportunity for an investor, contractor, or owner-user seeking a value-add project.
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling None
Fireplace N
Exterior
Utilities Available Electric to Site, Natural Gas Available
View Y/N true
Building
Structure Type Brick,Wood
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