22-Unit Mixed-Use | 12.26% Cap Rate | Commercial Upside & Potential City Grants

The Proano Commercial Group is pleased to exclusively present this 22-unit mixed-use investment opportunity located along the Chicago Avenue commercial corridor in Chicago's established Austin neighborhood. Comprising approximately 21,080 square feet of reported rentable area, the property offers a diversified mix of residential apartments and street-level commercial storefronts, providing investors with existing rental income and significant value-add potential. The property features 14 residential apartments, consisting of seven (7) one-bedroom units, four (4) two-bedroom units, and three (3) studios. One- and two-bedroom apartments account for approximately 79% of the residential inventory. Additionally, the property includes eight (8) street-level commercial units configured as seven (7) rentable storefronts, with two units combined into one larger commercial space. Currently, five (5) storefronts are occupied and two (2) are vacant, providing established commercial rental income with additional leasing opportunities. The residential scheduled rental income, combined with existing commercial rents, totals approximately $279,300 annually, with additional income potential from the two vacant commercial spaces. At full occupancy, the property's projected gross rental income is approximately $349,200annually($29,100 monthly), offering investors an opportunity to increase income through commercial lease-up and continued property stabilization. A notable investment advantage is the property's reported location within the Austin Commercial Tax Increment Financing (TIF) District, offering potential access to City of Chicago economic development incentives. Programs identified by the City's Department of Planning and Development include the Neighborhood Opportunity Fund (NOF), providing grants of up to $250,000, and the Small Business Improvement Fund (SBIF), offering grants of up to $150,000 for qualifying projects. Additional opportunities may be available through other community development initiatives, subject to eligibility, funding availability, and approval. Situated along Chicago Avenue, the property benefits from an established commercial corridor with convenient access to Central Avenue, Cicero Avenue, and Austin Boulevard. With existing cash flow, diversified income streams, commercial lease-up opportunities, and potential municipal incentives, this offering presents an opportunity for investors seeking to acquire and stabilize a mixed-use asset on Chicago's West Side.