Listing provided courtesy of @properties Christie's International Real EstateMREDas Distributed by MLSGrid- MLS# 12420638MLS Provider

3251 W 111TH StreetChicago, IL 60655

Commercial
$325,000 Active

3251 W 111TH Street Overview

Time on Site:
341 days
Visits:
9

Incredible Investment Opportunity in Prime Mount Greenwood! Here's your chance to own a well-maintained mixed-use two-flat in one of the most desirable high-traffic corridors on 111th Street in Mount Greenwood. This property offers excellent visibility, stable income, and significant upside potential. The building includes a 400 sq ft commercial space in the front and a spacious 3-bedroom, 1-bath residential unit in the rear-plus a full unfinished attic that offers future expansion potential. There's also a 2-car garage in the rear. The property has been well cared for, and both units are currently occupied with long-time, month-to-month tenants. Rents have not been raised in many years, offering immediate value-add opportunity by adjusting to market rate. The adjacent vacant 25 x 125 lot is also available for just $100,000 additional. Use it for expanded parking, outdoor space, or future development-the possibilities are endless. Both parcels have separate PINs and can be sold together. Whether you're looking to increase cash flow, expand your portfolio, or secure a prime piece of real estate in a sought-after business district, this is a must-see opportunity.

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3251 W 111TH Street Facts & Features

  • Type Commercial

Details

General

Income/Expenses

  • Other Expense: 0
  • Electric Expense: 0
  • Existing Lease Type: Gross
  • Fuel Expense: 0
  • Gross Income: 1975
  • Gross Scheduled Income: 23700
  • Insurance Expense: 0
  • Net Operating Income: 21030
  • Operating Expense: 0
  • Trash Expense: 0
  • Water Sewer Expense: 0

Building Information

  • Year Built: 1919

Location/Region

  • County Or Parish: Cook
  • MLS Area Major: CHI - Mount Greenwood
  • Township: Lake

Rent/Lease Information

  • Tenant Pays: Electricity, Heat

Tax Information

  • Tax Annual Amount: $3,206.00
  • Tax Year: 2023

General Information

  • Parcel Number: 24232060040000
  • Possible Use: Commercial,Condominium,Multi-Family,Retail
  • Property Sub Type: Mixed Use
  • Property Type: Commercial Sale
  • Zoning: COMMR

Interior

General Information

  • Cooling: Wall Sleeve
  • Electric: Other
  • Foundation Details: Brick/Mortar, Concrete Perimeter
  • Stories: 2

Exterior

Lot Information

  • Additional Parcels: Yes
  • Frontage Type: City Street
  • Lot Size Dimensions: 50 X 125
  • Lot Size Square Feet: 6313

Building Exterior/Construction

  • Construction Materials: Wood, Frame

General Information

  • Number Of Units Total: 2

3251 W 111TH Street Neighborhood

Community

60655 (Chicago) Demographics

40
Median Age
6,305
Population Density (per sq. mile)
53%
College Educated
$99,264
Estimated Median Income
8,754
Estimated Total Home Owners
1,632
Estimated Total Renters
84% / 16%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

3251 W 111TH Street Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

3251 W 111TH Street Market Data

Based on the last 30 days in this zip code

$401,498
Average List Price
$243
Average Price per Square Foot
20
Properties Sold
38
Average Days on Market
58
Properties for Sale
Calculations provided by Reliance Network

3251 W 111TH Street History

Date Event Value Agent
7/31/2025Source: MRED Added to Database
July 23, 2025
7/31/2025Source: MRED Status Change
Active