Listing provided courtesy of @properties Christie's International Real EstateMREDas Distributed by MLSGrid- MLS# 12420638
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Request Info3251 W 111TH StreetChicago, IL 60655
Commercial$325,000
Active
3251 W 111TH Street Overview
- Time on Site:
- 341 days
- Visits:
- 9
Incredible Investment Opportunity in Prime Mount Greenwood! Here's your chance to own a well-maintained mixed-use two-flat in one of the most desirable high-traffic corridors on 111th Street in Mount Greenwood. This property offers excellent visibility, stable income, and significant upside potential. The building includes a 400 sq ft commercial space in the front and a spacious 3-bedroom, 1-bath residential unit in the rear-plus a full unfinished attic that offers future expansion potential. There's also a 2-car garage in the rear. The property has been well cared for, and both units are currently occupied with long-time, month-to-month tenants. Rents have not been raised in many years, offering immediate value-add opportunity by adjusting to market rate. The adjacent vacant 25 x 125 lot is also available for just $100,000 additional. Use it for expanded parking, outdoor space, or future development-the possibilities are endless. Both parcels have separate PINs and can be sold together. Whether you're looking to increase cash flow, expand your portfolio, or secure a prime piece of real estate in a sought-after business district, this is a must-see opportunity.
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3251 W 111TH Street Facts & Features
- Type Commercial
Details
General
Income/Expenses
- Other Expense: 0
- Electric Expense: 0
- Existing Lease Type: Gross
- Fuel Expense: 0
- Gross Income: 1975
- Gross Scheduled Income: 23700
- Insurance Expense: 0
- Net Operating Income: 21030
- Operating Expense: 0
- Trash Expense: 0
- Water Sewer Expense: 0
Building Information
- Year Built: 1919
Location/Region
- County Or Parish: Cook
- MLS Area Major: CHI - Mount Greenwood
- Township: Lake
Rent/Lease Information
- Tenant Pays: Electricity, Heat
Tax Information
- Tax Annual Amount: $3,206.00
- Tax Year: 2023
General Information
- Parcel Number: 24232060040000
- Possible Use: Commercial,Condominium,Multi-Family,Retail
- Property Sub Type: Mixed Use
- Property Type: Commercial Sale
- Zoning: COMMR
Interior
General Information
- Cooling: Wall Sleeve
- Electric: Other
- Foundation Details: Brick/Mortar, Concrete Perimeter
- Stories: 2
Exterior
Lot Information
- Additional Parcels: Yes
- Frontage Type: City Street
- Lot Size Dimensions: 50 X 125
- Lot Size Square Feet: 6313
Building Exterior/Construction
- Construction Materials: Wood, Frame
General Information
- Number Of Units Total: 2
3251 W 111TH Street Neighborhood
Community
60655 (CHICAGO) Demographics
40
Median Age
6,305
Population Density (per sq. mile)
53%
College Educated
$99,264
Estimated Median Income
8,754
Estimated Total Home Owners
1,632
Estimated Total Renters
84% / 16%
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.3251 W 111TH Street Monthly Cost
3251 W 111TH Street Market Data
Based on the last 30 days in this zip code
$402,593
Average List Price
$237
Average Price per Square Foot
18
Properties Sold
39
Average Days on Market
58
Properties for Sale
3251 W 111TH Street History
| Date | Value | Agent |
|---|---|---|
| 7/31/2025Source: MRED | July 23, 2025 |
|
| 7/31/2025Source: MRED | Active |