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3571-3573 W. Armitage Avenue (the "Property") is a two-story, 5,240 SF mixed-use invest- ment opportunity located on 11,250 square feet of land on highly trafficked Armitage Avenue. The property features a 3,300 SF commercial space leased to Logan Square Laundry on a long-term triple net lease, as well as two (2) second floor apartments, each with two bedrooms and one bathroom. Logan Square Laundry has over 6.5 years of lease term remaining on its triple net lease and is responsible for paying 100% of the real estate taxes, insurance, parking lot mainte- nance and utilities (gas and water). In 2018, the tenant invested over $300,000 in new laun- dry equipment and infrastructure, demonstrating its commitment to this location. As part of this equipment investment upgrade, Logan Square Laundry exercised its first renewal option nearly two years before its required notice date. Prominently located on a busy commercial thoroughfare, the sizable 11,250 square foot land parcel provides ample parking for the laundromat while offering a new owner sig- nificant upside in the form of future development potential. With steady income and pro- tection against property tax increases, the property represents an attractive covered land play in the path of development in one of Chicago's most sought after neighborhoods.

Property Details of 3571 West Armitage Avenue

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Listed by Victor Wierzba of Chicagoland Brokers,Inc.

Based on information submitted to MRED  as of May 25, 2022 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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