$4,000,000 SALE
Multi-Family
14,232 SF
3500 S. Halsted St
Chicago, IL 60609 Historic 12 Unit Multi Family/Retail Property I Chicago, IL



Paul Proano Properties & Coldwell Banker Commercial have been exclusively chosen to market the Bridgeport Restaurant Building which is a historic well-known restaurant in the heart of downtown Bridgeport. Located southwest of downtown Chicago, the Bridgeport Restaurant Mix Use Building is located at a major intersection of S. Halsted Street and 35th Street that sees 23,500 vehicles per day, close to Chicago White Sox Stadium, East of Illinois Institute of Technology (IIT) and just south of the University of Illinois at Chicago East Campus. The mix used building is comprised of twelve Units (12) total which include eight (8) residential apartment units and four (4) commercial retail units. The commercial spaces comprise of two (2) restaurant tenants, one (1) attorney office and one (1) retail clothing store and the property offers storage basement space for each retail tenant. The property has undergone major capital improvements in the past 10 years. Some of the major exterior improvements include newer windows installed 2020, newer roof installed 2017, new store front 2020, exterior brick work completed in 2020. The interior improvements include a remodeled common area hallway on the Halsted St. apartment entry, five (5) remodeled units with stainless steel appliances and in unit washer/dryer and hardwood floors. Both Restaurant Businesses also for sale in addition to building: La Mexicana Taqueria Restaurant for sale. This family owned & operated restaurant business has been operating for over 32 years and counting. Located near a prime corner retail corridor with 23,500 Vehicles per day on the city street of Halsted St and 35th st. The location is also located in a dense area with over 58,913 residents within a 2 miles radius that guarantees a need more dine in or take out food. Being a Mexican Restaurant the menu offers the best Mexican style restaurant in Bridgeport in Chicago, along with delicious Popular Items, Breakfast items, Breakfast Burritos, Appetizers, Soups, Sopes, House Specialties, Enchiladas and Quesadillas, Tacos, Burritos, Tostadas, Tortas, Burritos Suizos, Combination, Seafood, Side Orders, Desserts, Beverages and Milk Shakes. La Mexicana Restaurant is a full service restaurant with dine in, take out, delivery and a licensed liquor serving bar. Historic Bridgeport restaurant in Chicago, IL which is a full service dine in, take out and delivery restaurant. This well established family style restaurant has been in business for over 63 years and counting. Located in a prime corner retail corridor with 23,500 Vehicles per day on the city street of Halsted St and 35th st. The location is also located in a densely populated area with over 58,913 residents within a 2 miles radius that guarantees foot traffic and a solid clientele base. Being a Breakfast and Lunch business establishment, Bridgeport Restaurant offers a wide range of breakfast/lunch type menu items which include: Breakfast Croissants, Breakfast Wraps, French Toast, Breakfast Sandwiches, Eggcelent Omelettes, Steak and Eggs, Country Fresh Eggs, Breakfast Specials, Skillets, Pancakes, Waffles, Crepes, Vegetarian Breakfast, Light and Healthy Breakfast, Biscuits and Gravy, Breakfast Melt Sandwiches, Panini Breakfast Sandwiches, Eggs Benedict, Breakfast Combos, Breakfast Side Orders, Soup, Salads and Cold Plates, Favorite Entrees, Steaks and Chops, Seafood, Tour to Italy, Tasty Sandwiches, Chicago’s Best, 3 Stories, Hot Sandwiches, Marvelous Melts, Burgers, Double Deckers, Lunch Panini Sandwiches, Bridgeport Specialities, Side Orders, Kids’ Menu, Lunch Special, Milk Shakes and Desserts.


Property Type Multi-Family
Property Use Owner Occupied
Year Built 1988
Renovated Year 2021
Level Number 3
Average Floor Size 3,392
Lot Dimensions 200X150
Available Floors 3
Sub-Lease 12
Zoning B3-3
Tax Year 2020
Cap Rate Percentage 6.5
Average Daily Rate 100
Listing ID X6L9EE
MLS ID 11329191
Style Multi-Family (5-20 Units)
Building Size 14,232 SF
Lot Size 7800 AC
Taxes $36,069
Area Description

Area Description: The Bridgeport Restaurant Building is located approximately four miles southwest of Chicago's "Loop" or Central Business District. Bridgeport is bordered by the South Branch of the Chicago River on the north, Normal Avenue on the east, Pershing Road on the south, and Bubbly Creek on the west. Neighboring communities are Pilsen across the river to the north, McKinley Park to the west, Canaryville to the south, and Armour Square to the east. Bridgeport has been the home of several Chicago mayors, & today ranks as one of the city's most diverse neighborhoods. Due to its position on the canal, Bridgeport became a major industrial center in Chicago at the beginning of the 20th Century. Bridgeport is an established neighborhood containing a mix of commercial, industrial, and residential uses. Commercial/retail activity within Bridgeport is generally situated along the primary roadways that intersect/border the neighborhood including Archer Avenue, Halsted Street, Pershing Road, Racine Avenue, 31st Street, 35th Street, etc. All are moderate to heavily trafficked roadways providing relatively intense exposure to commercial/retail developments. Existing commercial uses are typically situated in free-standing buildings, community/neighborhood shopping centers, or in ground floor units within mixed-use developments. Bridgeport is home to many staple restaurants, specialty shops, food stores, convenience stores, automotive servicing establishments, & etc. It is also home to Guaranteed rate stadium, which houses the Chicago White Sox professional baseball team. Transportation amenities within Bridgeport include the Stevenson Expressway (I-55), which predominantly extends in a northeast/southwest direction through the northwestern section of the neighborhood. The preceding roadway provides access to the extensive network of expressways and tollways that traverse Northeastern Illinois. In addition, many primary roadways including Archer Avenue, Halsted Street, Pershing Road, Racine Avenue, 31st Street, 35th Street, etc. intersect/border the neighborhood and provide access to the entire Chicago Metropolitan Area. Air transportation services are provided by O'Hare International Airport (20 miles to the northwest) and Midway Airport (six miles to the southwest). In terms of public transportation, the CTA’s Orange Line has a stop along Archer Avenue at Halsted Street. Bus service is available along the neighborhood’s primary roadways.

Region: North Ameria-USA

Region: Bridgeport

Region: 10 North America

Region: IIllinois

Region: Central

Region: Chicago

Property Features
Full Bath: 1
Flooring: Ceramic, Wall to Wall Carpet, Tile, Hardwood
Cooling: Central A/C - Gas, Central A/C
Sewer: City
Heating Type: Multi-Zone Heat
Water: City Water
Exterior: Sprinkler System
Exterior Description: Brick, Vinyl Siding
Age: Over 50 Years Old
Lot Size: Under 1/2 Acre
Area Description: Metropolitan
Financials
Down Payment: $625,000
Gross Income: $346,800
Expenses: $82,074
Loan Payment: $3,375,000
Fully Leased Income: $346,800
Cash Flow: $540,790
Additional Media

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