Listing provided courtesy of R4 Commercial Real Estate SolutionsMREDas Distributed by MLSGrid- MLS# 12680755
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Request Info5500 W Lake StreetChicago, IL 60644
Commercial · 1 Bed$1,650,000
Active
5500 W Lake Street Overview
- Time on Site:
- 13 days
- Visits:
- 0
11 unit building which offers comfortable living on the West Side-less than half a mile from Oak Park. This unique and rare investment opportunity features 11 spacious, cozy units, each thoughtfully designed with one separate bedroom, a large living room suitable for a living/dining room combination, one bathroom, a kitchen, hall closet, and a private furnace room. New flooring and freshly painted with newer appliances throughout the building. Some units have new furnaces. This property offers far more than expected, including excellent access to public transportation with the Green Line train and bus just steps away. Tenants will also enjoy proximity to Levin Park, convenient street parking, and five exterior parking spaces-providing added convenience and the potential for additional income. The property also includes an area ideal for coin-operated laundry and individual storage units. This can also be an additional residential unit. Property is presently empty and being sold As-Is. Units are all ready to rent.
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5500 W Lake Street Facts & Features
- Type Commercial
Details
General
Income/Expenses
- Other Expense: 0
- Electric Expense: 910
- Fuel Expense: 922
- Gross Income: 132000
- Gross Scheduled Income: 132000
- Insurance Expense: 3000
- Maintenance Expense: 1000
- Net Operating Income: 108000
- Operating Expense: 5000
- Trash Expense: 1200
- Water Sewer Expense: 1000
Building Information
- Year Built: 1964
Business Information
- Current Use: Multi-Family
Location/Region
- County Or Parish: Cook
- MLS Area Major: CHI - Austin
Rent/Lease Information
- Tenant Pays: Electricity, Heat
Tax Information
- Tax Annual Amount: $14,551.00
- Tax Year: 2023
General Information
- Parcel Number: 16091210340000
- Possible Use: Multi-Family
- Property Type: Commercial Sale
- Zoning: MULTI
Interior
General Information
- Cooling: Window Unit(s)
- Electric: Circuit Breakers, Fuses
- Foundation Details: Concrete Perimeter
- Stories: 3
Exterior
Lot Information
- Additional Parcels: No
- Lot Size Dimensions: 50X130
Building Exterior/Construction
- Construction Materials: Brick
General Information
- Number Of Units Total: 11
Unit Information
Unit 1 Details
- Unit Type: Unit 1
- Beds Total: 1
- Baths Total: 1
- Units Total: 11
Unit 2 Details
- Unit Type: Unit 2
- Beds Total: 0
- Units Total: 0
Unit 3 Details
- Unit Type: Unit 3
- Beds Total: 0
- Units Total: 0
Unit 4 Details
- Unit Type: Unit 4
- Beds Total: 0
- Units Total: 0
Unit 5 Details
- Unit Type: Unit 5
- Beds Total: 0
- Units Total: 0
Unit 6 Details
- Unit Type: Unit 6
- Beds Total: 0
- Units Total: 0
Unit 7 Details
- Unit Type: Unit 7
- Beds Total: 0
- Units Total: 0
5500 W Lake Street Neighborhood
Community
60644 (Chicago) Demographics
36
Median Age
13,070
Population Density (per sq. mile)
19%
College Educated
$28,033
Estimated Median Income
5,202
Estimated Total Home Owners
12,107
Estimated Total Renters
30% / 70%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Schools
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.5500 W Lake Street Monthly Cost
5500 W Lake Street Market Data
Based on the last 30 days in this zip code
$312,454
Average List Price
$167
Average Price per Square Foot
10
Properties Sold
73
Average Days on Market
33
Properties for Sale
5500 W Lake Street History
| Date | Value | Agent |
|---|---|---|
| 6/23/2026Source: MRED | Active |
|
| 6/17/2026Source: MRED | June 17, 2026 |
|
| 10/27/2022Source: MRED | Closed |
|
| 8/29/2022Source: MRED | Contingent |
|
| 8/19/2022Source: MRED | Active |
|
| 8/14/2022Source: MRED | August 14, 2022 |