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$ 3,275,000
Est. payment | /mo
$ 3,275,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12623413
Year Built 1973
Annual Tax Amount $81,302
Tax Year 2024
Lot Dimensions 100X149
Property Sub-Type Mixed Use
Property Description
Portfolio investment comprised of 5 Super Host Airbnb units and 2 Commercial Condos. Perfect for long term investor or 1031 Exchange. Positioned at the intersection of the Gold Coast and Old Town - two of Chicago's most coveted submarkets, this offering at 163 Division Street represents a rare opportunity to acquire a scaled, mixed-use asset in the heart of these neighborhoods. The portfolio consists of five fully furnished residential condominium units and two street-level commercial spaces, collectively comprising significant ownership percentage of the condominium association-providing meaningful influence over governance and long-term asset strategy. With limited remaining development parcels in the immediate vicinity, the property offers both durable in-place income and compelling embedded land value. The commercial component, totaling approximately 1,560 square feet, is a busy Asian wok-dish sit-in and take out restaurant. The residential units-comprising a mix of one- and two-bedroom layouts-are currently operated as high-performing Super Host Airbnb short-term rentals (of month plus tenancy), benefiting from strong occupancy and premium nightly rates driven by the property's premiere location and turnkey positioning. This dual-income stream provides diversification across tenant profiles and revenue sources.
Location
State IL
County Cook
Area Chi - Near North Side
Interior
Cooling Wall Sleeve
Fireplace N
Building
Dwelling Type Mixed Use
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Listed by Yehuda Cohen of Baird & Warner
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