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1059 W Wrightwood Avenue, Chicago, IL 60614
Mixed use building situated on a corner/oversized lot in Lincoln Park, measuring 30x125 and zoned RT-4. The property comprises three units: two apartments and one commercial tenant, with no vacancy in over 30 years. The commercial lease (Tapster), operates under a modified lease, with the tenant responsible for real estate tax and insurance costs proportional for increases over the 2018 base year rates. Additionally, the commercial tenant is accountable for all mechanicals in their space and snow removal for the building. Apartment 2F, a 3-bed 2-bath duplex with a true primary suite, is leased until April 2025 for 2700/month. Apartment 2R, a condo-quality 2-bed 2-bath duplex with a rain shower and fireplace, is rented for 2700/month until September 1, 2025. Both units offer considerable potential for increased rental income. The property enjoys proximity to Jonquil Park and DePaul University. Tapster, the commercial tenant, pays 5,402 per month plus any water bill costs exceeding 200 (billed every 2 months), with the lease expiring in June 2027 and an option to renew for an additional 5 years thereafter. The lease renews annually every July with a 2.5 increase per annum. Tapster also contributes additional rent proportional to insurance and tax increases as stated above. The property's expenses include 2022 taxes amounting to 21,597, insurance costs of 11,412 (potentially lower if shopped), and an annual water expense of 1200. The property currently operates with a Tavern license. The license is permanently affixed to the property, meaning the current tenant will need to either transfer it to a new tenant (subject to landlord approval) or to the building owner upon vacancy. Tenants cover all heat and gas expenses, while Tapster manages snow removal and landscaping. The furnaces in both units are new, with the 2R unit's furnace being just 2 months old and the 2F unit's furnace being 2 years old. Additionally, all three AC condensers are from 2017 or newer. With recent developments such as Avli Taverna and Love Street joining the block, and Lincoln Commons nearby, the location is hard to beat.
Overview for 1059 W Wrightwood Avenue
HOA Fees-
Taxes$21,597
Sq. Footage-
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Property StatusActive
Property TypeMixed Use
MLS #12211324
List DateNov 18, 2024
Days on Market138
Interior Features for 1059 W Wrightwood Avenue
Bathroom Information
- # of Baths: 0
Fireplace
- Number: 1
Heating and Cooling
- 0
- Air Conditioning: Central Air
School information for 1059 W Wrightwood Avenue
- Elementary School-
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HOA & Taxes for 1059 W Wrightwood Avenue
- HOA Fee-
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- Tax$21597
- Tax Year2022
- Exemptions-
- Special Service Area-
Payment Calculator for 1059 W Wrightwood Avenue
Exterior, Parking & Pets for 1059 W Wrightwood Avenue
- Lot Size30X125
- Built before 1978Yes
- Age127
- PoolNo Private
Similar Listings for 1059 W Wrightwood Avenue
Neighborhood for 1059 W Wrightwood Avenue
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Lincoln Park
Lincoln Park is multi-faceted north side neighborhood. If you have an appreciation for green space, Lincoln Park not only has the sprawling park of its namesake, but plenty of others: check out Oz Park for statues of Wizard of Oz characters, the Alfred Caldwell Lily Pool for serene relaxation, or the dog park at Wriggly Field for wholesome fun. Looking to shop 'til you drop? Lincoln Park has plenty of spots to find the newest fashion styles and home decor. The neighborhood plays host to plenty of boutiques and locally-owned shops such as the carefully curated music selections at Dave's Records, affordable yet fashionable styles at Alice & Wonder on Webster Avenue and fabulous custom bags at Laudi Vidni. Or if you want to minimize walking, you'll find dozens of stores in the recently opened New City complex. Weekends in Lincoln Park are everything you could want - brunch spots galore, afternoons at Lincoln Park Zoo and live shows from every genre at Lincoln Hall. Treat your sweet tooth at Many B's or Molly's Cupcakes or dine at any of the dozens of restaurants throughout the neighborhood. Our favorites include Summer House Santa Monica, unique tastes at Del Seoul, Mediterranean cuisine at Galit, or upscale dining at the picturesque North Pond. There is quite the selection of real estate in Lincoln Park. Endless apartment buildings, many of which were built in the 1930's and 40's, house classic Chicago apartments, some of which are rehabbed. Lincoln Park also includes DePaul University, where students flock to larger apartments, rare for the city, but not for the neighborhood. You'll spot single family homes, some of which have a modern feel. Keep an eye out for the occasional sprawling mansion, too!
Schools near 1059 W Wrightwood Avenue
| School Information | Type | Grades | Rating |
|---|---|---|---|
Agassiz Elementary School  0.4 ml | Public | PK-8 |   5 |
Mayer Elementary School 0.4 ml | Public | PK-8 | 9 |
Alcott Elementary School 0.5 ml | Public | KG-8 | 9 |
Lincoln Elementary School 0.7 ml | Public | KG-8 | 10 |
Prescott Elementary School 0.7 ml | Public | PK-8 | 9 |
Facts for 1059 W Wrightwood Avenue
312-751-0300
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Midwest Real Estate Data LLC. Real estate listings held by brokerage firms other than Fulton Grace Realty are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.