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Listing provided courtesy of Fulton Grace RealtyMREDas Distributed by MLSGrid- MLS# 12687697MLS Provider

1256 S Independence BoulevardChicago, IL 60623

Commercial · 9 Beds
$2,249,000 New

1256 S Independence Boulevard Overview

Time on Site:
5 days
Visits:
0

Rehabbed, Fully Rented, and Completely Turnkey with Property Manager on the premises. No Seller Financing. All tenants are current and listed at a 9.2 CAP. This is a fantastic opportunity to acquire a rehabbed building located on Independence Boulevard right in the up-and-coming neighborhood of North Lawndale. This 18-unit building offers a great unit mix of 2,3 and 4-bedroom units. The building has 12 units of 2BR/1BA, 3 units of 3BR/1BA and 3 units of 4BR/1BA. The basement has a coin laundry room with 3 washers and 3 dryers. Security cameras have been installed around the building. Each unit has its own gas meter, water heater, and electric meter. The current monthly rent roll is $24,678. Sold AS-IS.

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1256 S Independence Boulevard Facts & Features

  • Type Commercial

Details

General

Income/Expenses

  • Other Expense: 600
  • Electric Expense: 3600
  • Fuel Expense: 1920
  • Gross Income: 296136
  • Insurance Expense: 2759
  • Maintenance Expense: 18000
  • Net Operating Income: 214765
  • Operating Expense: 81371
  • Trash Expense: 5486
  • Water Sewer Expense: 12000

Building Information

  • Year Built: 1909

Location/Region

  • County Or Parish: Cook
  • MLS Area Major: CHI - North Lawndale

Rent/Lease Information

  • Tenant Pays: Air Conditioning, Electricity, Heat

Tax Information

  • Tax Annual Amount: $17,301.00
  • Tax Year: 2025

General Information

  • Parcel Number: 16231030330000
  • Property Type: Commercial Sale

Interior

General Information

  • Stories: 3

Exterior

Lot Information

  • Additional Parcels: No
  • Lot Size Dimensions: 56X158

General Information

  • Number Of Units Total: 18

Unit Information

Unit 1 Details

  • Unit Type: Unit 1
  • Beds Total: 2
  • Baths Total: 1
  • Units Total: 12

Unit 2 Details

  • Unit Type: Unit 2
  • Beds Total: 3
  • Baths Total: 1
  • Units Total: 3

Unit 3 Details

  • Unit Type: Unit 3
  • Beds Total: 4
  • Baths Total: 1
  • Units Total: 3

Unit 4 Details

  • Unit Type: Unit 4
  • Beds Total: 0
  • Units Total: 0

Unit 5 Details

  • Unit Type: Unit 5
  • Beds Total: 0
  • Units Total: 0

Unit 6 Details

  • Unit Type: Unit 6
  • Beds Total: 0
  • Units Total: 0

Unit 7 Details

  • Unit Type: Unit 7
  • Beds Total: 0
  • Units Total: 0

1256 S Independence Boulevard Neighborhood

Community

60623 (Chicago) Demographics

33
Median Age
14,242
Population Density (per sq. mile)
17%
College Educated
$34,714
Estimated Median Income
9,269
Estimated Total Home Owners
16,477
Estimated Total Renters
36% / 64%
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.

1256 S Independence Boulevard Monthly Cost

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Eric Nowik
* 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.

1256 S Independence Boulevard Market Data

Based on the last 30 days in this zip code

$338,047
Average List Price
$199
Average Price per Square Foot
6
Properties Sold
76
Average Days on Market
25
Properties for Sale
Calculations provided by Reliance Network

1256 S Independence Boulevard History

Date Event Value Agent
6/25/2026Source: MRED Added to Database
June 25, 2026
1/5/2023Source: MRED Status Change
Contingent
11/5/2022Source: MRED Status Change
Active
10/31/2022Source: MRED Added to Database
October 31, 2022