Under contract
Contingent
18114 Martin Avenue
Homewood IL, 60430
$3,500,000
$123.78 per sqft
Under contract
Contingent
28,275 sqft
Other
Built in 1982
Courtesy of Real People Realty
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.
12058359
MLSⓇ ID
May 16, 2024
Listed
December 17, 2024
Updated
Map
18114 Martin Avenue
Homewood IL, 60430
Interior Features
Total Stories
3
Floor Description
Varies
Fireplace
No
Cooling
Yes
Cooling Description
Central Individual
Heating
No
Exterior/Building Features
Lot Size
0.69 Acres
Roof
Reflective Coating
Other Property Details
Area Name
Homewood
Taxes
$89,727
Tax Frequency
Annually
Days on Market
216
Garage
No
View
No
County
Cook
Municipality
Thornton
Pool
No
Zoning
COMMR
Listing History
Date | Event | Price |
---|---|---|
7/22/2024 | Under contract | — |
Courtesy of Real People Realty, Judith Panozzo,
Listing Contact: (708) 955-5615
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Data last updated 7:19 PM UTC, 12/17/2024