2829 W Armitage Ave, Chicago, IL

Description:

KW Commercial is pleased to present a mixed-use investment opportunity located in the vibrant Logan Square neighborhood. This property boasts impressive features and attributes, making it an attractive prospect for savvy investors and business owners seeking a strategically positioned and well-maintained asset. Property Details: - Building Size: 15,600 Square Feet - Lot Size: 5,250 Square Feet - Zoning: B3-1 - Location: Corner of Armitage Ave. and Mozart St., Logan Square - Floors: Three - Composition: One commercial space and four residential units - 100% Stabilized Key Highlights: - Renowned Bar Parisette Lease: The property includes a leased commercial space occupied by the well-established and renowned Bar Parisette. This esteemed tenant brings stability to the investment and adds value to the property due to its popularity and established reputation within the community.
 - Desirable Residential Units: The four residential units, thoughtfully designed as two units of two beds and one bath each, offer comfortable living spaces complemented by in-unit washer/dryer facilities. The residential units present a steady income stream and cater to the increasing demand for quality housing in the Logan Square neighborhood.
 - Modern Amenities and Infrastructure: The property stands out with its contemporary features, including individual furnaces and water tanks for each unit, full HVAC systems for hot and cold forced air throughout the entire building, and copper plumbing. These modern amenities ensure tenant comfort and convenience, adding to the property's appeal.
 - Recent Capital Improvements: Extensive capital expense investments, totaling above a quarter of a million dollars in 2022, demonstrate the property's commitment to maintaining its value and ensuring a hassle-free ownership experience for the future buyer. Recent updates, such as tuck-pointing and a new tear-off roof, enhance the building's structural integrity and longevity.
 - Excellent Traffic Exposure: With an average daily traffic of 21,688 cars passing by on the corner of Armitage Ave. and Mozart St., the property enjoys significant exposure, providing ample visibility for the commercial space and increasing the potential for attracting new customers.
 Outdoor Deck: An existing outside deck of 500 SF adds a valuable amenity for tenants and patrons, creating an inviting space for leisure and entertainment.
 - As a discerning investor, this commercial property presents an opportunity to capitalize on the thriving Logan Square market and its continued growth potential. I am confident that the property's prime location, versatile composition, and recent capital improvements will yield long-term benefits and a strong return on investment. - Commercial Lease - Presently at a monthly rate of $8,234, it carries 3% annual increases, is responsible for 50% of the taxes for the building, and 50% of the building's water-use.


Logan Square, Chicago

Why We Love It:

Logan Square is a thriving, multi-cultural community of arts organizations, intimate music venues, locally owned shops, trendy cocktail bars, and beyond. Its creative energy and urban vibe make it a go- to for locals looking for the next cool thing.

Explore like a local:

- Enjoy a seasonal, locally sourced meal at neighborhood favorite Lula Cafe, a pioneer of the farm-to- table movement.
- Check out Wolfbait & B-Girls, a boutique showcasing wares from more than 300 local makers.
- Hit the patio for fried chicken, ping pong, and negroni slushies at Parson’s Chicken and Fish.

- Enjoy outstanding food at Bar Parisette Insider Tips:

Walk the boulevards:

Take a stroll down stately Logan Boulevard, which cuts through the heart of the neighborhood. It’s lined with regal limestone homes and anchored by the soaring Illinois Centennial Monument, designed by the same architect who created the Lincoln Memorial in Washington D.C. It’s also home to the award-winning Logan Square Farmer’s Market, which features some of the region’s best vendors.

Catch a screening in a vintage movie house: Just a few steps away, you’ll find the historic Logan Theatre. This vintage movie house opened in 1915 and has been revamped to include a cozy bar and lounge. The Logan, as the locals call it, screens everything from first-run films to cult classics to indie favorites. It also hosts the annual Chicago Underground Film Festival, the longest-running underground film fest in the world.

Try some buzz-worthy eateries: Among the neighborhood’s diverse dining scene, you’ll find Michelin- rated spots, pizza places with cult followings, funky noodle shops, hip coffee houses, and unexpected fusion concepts.

A few can’t-miss bites: housemade pasta at Daisies, refined Greek favorites in a lush atmosphere
at Andros Taverna, rooftop tacos and margaritas at Lonesome Rose, and Alpine-inspired small plates on the hidden patio at Table, Donkey and Stick.

Drink local:

For a taste of Logan Square nightlife, take your pick from trend-setting cocktail bars, under- the-radar venues with local bands, and burgeoning breweries and distilleries. Check out Longman & Eagle, a modern take on an old-school Chicago inn with a mind-blowing whiskey selection. Or order a cocktail made with small-batch spirits at family-owned Chicago Distilling Company. Catch a performance at cool-kid staple The Whistler, a hybrid cocktail bar, gallery, record label, and music venue.



Five-Unit Building
One Commercial space responsible for 50% of the building's taxes and water use charge
Four Residential Units
Building Size: 15,600 SF
Lot Size: 5,250 SF
100% Occupancy
Market: Chicago
Submarket: Logan Square, Chicago - Roof 2022
Plumbing Copper
Windows 2020
Tuck-pointing 2022


 

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