$ 3,500,000
18114 Martin AVE Homewood, IL 60430
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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$ 3,500,000
Est. payment /mo
Active Under Contract
18114 Martin AVE Homewood, IL 60430
28,275 SqFt
UPDATED:
08/17/2024 08:28 AM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 28,275 sqft
Price per Sqft $123
MLS Listing ID 12058359
Year Built 1982
Annual Tax Amount $89,727
Tax Year 2023
Lot Dimensions 150 X 200
Property Description
Opportunity is knocking. Original owners are parting with this fabulous brick, mixed-use building with 16 residential rentals (15 rented, 1 being readied) and 10 commercial rentals (10 rented). The property sits in the middle of Homewood's new Transit-Oriented Development Plan. Superb location with all conveniences right in the neighborhood: New Metra Station, restaurants, shopping, banking, post office, etc. A New Casino is being built in Homewood, Wind Creek Chicago Southland. The building has 25 gas and water meters with 26 electric meters. Each residential unit has separate furnaces and central a/c units. The commercial units have separate furnaces and central air units for each 1050 asq of office space. The building was built as condos with separate PINs (24) and none were ever sold. There is no separate pin for the parking lot. No HOA was ever established and no credit will be given. Selling all as one entity. Original owners have kept the rents very low for long-term tenants. If rents were at market value, gross rental income would be over $440k. Tenants pay all utilities: gas, electricity, and water. This includes the heat and air conditioning. The property has a private parking lot for 45+ cars with 2 being handicap spaces. Each floor has approximately 9,425 sq ft plus a full basement. The basement has a laundry room (2 washers, 3 dryers), half bath, storage for commercial and residential spaces, community room, several building storage rooms, and commercial space included with street level unit. See spec sheet and Homewood's TOD map under additional information. The property has multiple addresses ranging from 18106 - 18124. Do not disturb the tenants. Do not enter the commercial spaces.
Location
State IL
County Cook
Area Homewood
Zoning COMMR
Interior
Cooling Central Individual
Flooring Varies
Fireplace N
Exterior
Utilities Available Electric to Site, Gas to Site, Sanitary Sewer, Water-Municipal, Water to Site
Roof Type Reflective Coating
Building
Dwelling Type Mixed Use
Level or Stories 3
Structure Type Brick
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Judith Panozzo • Real People Realty
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