-
WESTERN CHICAGO, IL 60645
- Commercial / Rent To Own
-
-
-
-
Register to view full property details including contact info, and pricing. View Details!
-
Register to view full property details including contact info, and pricing. View Details!
-
Register to view full property details including contact info, and pricing. View Details!
-
Register to view full property details including contact info, and pricing. View Details!
-
Register to view full property details including contact info, and pricing. View Details!
-
Register to view full property details including contact info, and pricing. View Details!
![](/guest/rimages/img-sample-map.png)
Property Details for WESTERN St, CHICAGO, IL 60645
Features
- Price/sqft : View Details
- Lot Size : View Details
- Total Units : View Details
- Stories : View Details
- Roof Type : View Details
- Heating : View Details
- Construction Type : View Details
Facts
- Year Built : View Details
- Property ID : View Details
- MLS Number : View Details
- Parcel Number : View Details
- Property Type : View Details
- County : View Details
- Legal Description : View Details
- Zoning : View Details
Sale Type
Rent-to-own homes can be purchased using a Lease Option. This means the buyer rents the home for a set period of time, sets aside a portion of monthly rent payments during this time, and then has an option to purchase the home later, using the accumulated savings toward the down payment. Rent-To-Own properties offer home ownership opportunities to those who have poor credit or can't afford the down payment. It gives buyers time to rebuild their credit and accumulate purchase credits while living in the house.
Description
Excited to offer the unique redevelopment opportunity located at 6943 N. Western Ave. in Chicago's vibrant West District neighborhood. This property spans 9,975 square feet and is zoned C1-2, providing various commercial development possibilities. Property Details: Location: 6943 N. Western Ave. is situated in a bustling commercial corridor, offering great visibility and accessibility. The surrounding neighborhood is a blend of residential and commercial spaces, ensuring a steady flow of potential clients and customers. Zoning: The C1-2 zoning allows for a diverse range of potential business uses, making the site versatile for various development visions. Land Area: The property has 9,975 square feet of prime land, offering ample space for creative redevelopment projects. Cell Tower Lease: Lease Terms: The cell tower lease, located on the southeast portion of the property, provides a reliable revenue stream. It began in January 1997 and was renewed in May 2015 for 28 years. As of June 2023, the lease has 20 years remaining, ensuring a stable and long-term source of income. Current Rent: The current annual rent is $39,675. According to the lease terms, the rent is upgraded every five years, with the next increase scheduled for June 2028. At that point, the rent will increase to $45,626 per year, providing a consistent and growing income for the new owner. Investment Opportunity: Land Purchase Price: The property is available for a competitive price of $900,000, offering significant potential for a high return on investment through strategic redevelopment. Cell Tower Lease Purchase Price: The cell tower lease can be acquired separately for an additional $900,000. This allows investors to secure an immediate revenue stream with predictable increases in the future. Overall, 6943 N. Western Ave. is a prime investment opportunity for savvy developers and investors. It offers versatility, a strategic location, and a consistent source of revenue through the existing cell tower lease.
Real Estate Professional In Your Area
Are you a Real Estate Agent?
Get Premium leads by becoming a RealtyStore.com preferred agent for listings in your area
Click here to view more details
Property Brokerage:
Keller Williams Chicago ONEChicago
2211 N Elston Ave STE 104
Chicago
IL
60614
Copyright © 2024 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
![](/guest/rimages/img-onboard.png)
All information provided is deemed reliable, but is not guaranteed and should be independently verified.