A RARE MIXED-USE INVESTMENT OPPORTUNITY IN THYE HEART OF THRIVING IRVING PARK... Offered for the first time in nearly 30 years, this is an exceptional opportunity to acquire a well-maintained, income-generating mixed-use property in one of Chicago's most rapidly appreciating neighborhoods. Located along the high-traffic Elston Avenue corridor, this turnkey asset delivers the perfect combination of residential stability, commercial upside, and pride of ownership. Lovingly cared for by the same owner since 1996, the building has been thoughtfully maintained with affordability, ease of management, and community connection in mind. The ground-floor commercial space has served as a neighborhood sanctuary-a warm, welcoming destination where patrons found not just service, but belonging and friendship. PROPERTY HIGHLIGHTS: (2) UPDATED RESIDENTIAL UNITS | Each 2-bedroom, 1-bath apartment offers spacious layouts and modern finishes ideal for today's renters. Comparable second-floor units in similarly trafficked areas have recently rented between $1,700 and $1,850 per month, demonstrating strong demand and income potential, ESTABLISHED COMMERCIAL COMPONENT | The 2,500+ SF fully built-out bar presents a flexible opportunity for hospitality, retail, or creative reuse. Recent short-term commercial leases in the area have ranged from $18 to $23/SF/YR, equating to $3,750 to $4,800 per month in potential gross rent, TURN-KEY INVESTMENT | Recent updates make this a move-in-ready solution for both residential and commercial tenants, minimizing capital expenditures for new ownership, PRIME LOCATION | Nestled in the heart of Irving Park, the property benefits from excellent public transit access (Blue Line, Metra, CTA), proximity to the Kennedy Expressway, and walkable access to local amenities, restaurants, and services. WHY INVEST HERE? ...Irving Park continues to demonstrate strong fundamentals, with increasing property values, short market times, and ongoing demand for both residential and commercial spaces. Its walkability, historic character, and diverse community appeal to a wide range of tenants, contributing to consistent occupancy and upward-trending rents. This mixed-use property offers investors: (1) Multiple income streams, (2) Stable rental demand, (3) Attractive rental comps, and (4) Long-term appreciation potential. Whether you're looking to expand your portfolio, establish a business, or own a piece of a truly connected community, this property presents a compelling opportunity in one of Chicago's most dynamic neighborhoods. Contact us today to schedule your private tour and explore this rare chance to own a legacy asset in ever-growing Irving Park.

Listing Courtesy of MRED as distributed by MLS Grid of Corcoran Urban Real Estate



Based on information submitted to the MLS GRID as of 2025-07-03 11:10 AM UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Last checked: 2025-07-03 11:10 AM UTC
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