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7701 Belmont Avenue, Elmwood Park, IL, 60707

  • - Beds
  • - Baths
  • - Sq. Ft.

$1,195,000

Year: 1950

Description

This one-of-a-kind investment opportunity is located in the heart of Elmwood Park's bustling downtown. The property is a mixed-use building with 100 percent occupancy that offers incredible potential for investors. Upstairs, there are two fully rehabbed residential units, each featuring 2 BED/ 1 BATH with in-unit washer/dryer. Both units are fully occupied, with tenants responsible for their own gas and electricity, ensuring consistent and reliable rental income. The downstairs commercial storefront is currently utilized as a cafe and gaming room, providing a dynamic and popular space for the community. The commercial tenant is responsible for water, gas, electricity, and repairs. Tenant is open to extending their lease for an additional 5 to 10 years, offering a secure and stable long-term investment opportunity. Additionally, there is an extra commercial space that is currently leasing as a banquet facility or venue, complete with its own separate PIN number, address and entrance. The basement provides ample storage space, adding further convenience and functionality to the property. The building also features an outdoor courtyard and parking, which make it ideal for hosting events such as private parties or other gatherings. These features add further value and versatility to the space. The landlord is responsible for paying property taxes, while the current setup minimizes other maintenance responsibilities, creating a low-effort yet profitable investment opportunity. With its prime location, multiple revenue streams, and endless potential, this building is truly a gem. Don't miss your chance to own this remarkable property and take advantage of its many possibilities.

Overview

  • - Beds
  • - Bathrooms
  • 0 Bath (Full)
  • 0 Bath (Half)
  • - Sq. Ft.
  • 0 Rooms

Other Details

  • Property Type: Mixed Use
  • Neighborhood: Elmwood Park
  • Year Built: 1950
  • Days On Market: 6
  • Outdoor Parking: 1-5 Spaces


HOA & Taxes

  • HOA Fee: 0.00
  • Tax annual amount: 20959.00
  • Tax year: 2023
  • Exemptions:
  • Association Fee Includes:

Location

Electric Details
  • Separate Meters
Heating & Cooling Details
  • Central Air
  • Central Individual
Exterior Features
  • Lot Size: 105 X 47
  • Ownership:-
  • Built before: 1950
  • Age: -
  • Exterior: -

Room Details

School Details

Elementary School
  • Name: -
  • District: -
Middle Or Junior School
  • Name: -
  • District: -
High School
  • Name: -
  • District: -

Contact Agent

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The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Midwest Real Estate Data LLC. Real estate listings held by brokerage firms other than Sohum Realty are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.