3571-3573 W Armitage Ave
Chicago, IL 60647-3608
3571-73 W Armitage Ave
Chicago, IL 60647-3608
  • Asking Price: $1,150,000
  • Status: Available

11,250 SF land site located on Armitage Avenue in Chicago’s Logan Square neighborhood. ±5,420 SF two-story mixed-use building with plentiful parking generating significant net operating income (NOI). Commercial laundromat tenant is on a triple net lease through 8/31/28. Logan Square Laundry is responsible for 100% of all real estate taxes, parking lot maintenance, insurance, and utilities (gas and water). Logan Square Laundry recently invested over $300,000 in new laundry equipment and infrastructure and exercised an early lease extension option. Two (2) large second floor apartments, each with 2 bedrooms and 1 bathroom. Opportunity to add value by rehabbing apartments and increasing rents. Attractive covered land play in desirable urban in-fill location in the path of development. Sizable land parcel on Armitage Avenue offers future development upside. Down the street from iconic Logan Square hot spots such as Giant, Parsons Chicken & Fish, Best Intentions, and Bugalow by Middle Brow. Broker-owned property.