421 LAKE Street

Property Description

Presenting a 9,388 SF, two-story mixed-use commercial building zoned C-2 Pedestrian-Oriented Commercial, ideally positioned in a high-visibility corridor with both heavy foot and vehicle traffic. Located on a bustling thoroughfare with bus stops on both the commercial and residential sides, this property offers exceptional exposure and accessibility. Key Highlights: 12 fully renovated residential units on the second floor - all fully leased, providing steady rental income. 4 ground-floor commercial units, leased to a dynamic mix of modern tenants including a restaurant, salon, and retail businesses. Over 1,500 SF of private rear industrial-style space, currently utilized as an automotive warehouse - perfect for storage, light industrial, or additional rental income. Surrounded by thriving local businesses, this property benefits from high car counts and strong pedestrian flow, making it an ideal, income-generating investment in a prime, transit-oriented location. Property taxes have been appealed and won but have not been updated by cook county. New taxes reflected may be around $77,000.

Overview

Property Status

For Sale

Lot Size

0.36 Acres

MLS ID

12429305

Property Type

Commercial

Year Built

1962

Are you interested?

Schedule a Tour

Jeremy Vitell

(708) 642-9566 [email protected]

Features & Amenities

Stories

Air Conditioning

Central Air

Sales Price

$1,250,000

Real Estate Tax

$101,000/yr

Zoning

RTAIL

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