4414 W 59th St., Chicago, IL 60629

Attention Investors! Recently signed 5-YEAR lease with a new commercial beauty shop tenant that includes a 3-yr renewal option! May 2017 move-in. Rent increases of 3.5-3.9% per year. New rent is $900/month, or 18% higher than prior tenant. New flooring is being installed as well as other tenant improvements to be made before tenant move-in. Additional rental income of $795/month from 2 bedroom apartment in back half of building and laundry income as well. Conveniently located just 2 blocks from Midway Airport and the Orange Line train station. 11 foot ceilings in beauty shop with large windows that let in tons of natural light. Tenants pay own gas and electric. 2 car garage. Low real estate taxes. Apartment updated with newer kitchen, bathroom, & flooring and shows like a model. Nearly identical comparable property right next door sold for $210k, or $35k more last year. You'll be hard pressed to find a higher cap. then the 9.3% offered with this property or lower expenses.