Price Reduction
Address
1401 E 87th Street, Chicago, IL
Price
$ 399,000
Property Attributes
- MLS#11820183
- TypeCommercial
- CountyCOOK
- CityChicago
- AreaCHI - Calumet Heights
- Zip60619
- Style
- Year Built1958
- Taxes$ 7573
- Price$ 399,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage6826
- Lot Size0.094697 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description
Well maintained 10,375 sf mixed-use building having 6,058 sf of building area is situated along the busy 87th Street business corridor. The building has ground floor office space, consisting of two occupied medical offices and one 800 SF space, freshly painted and ready to rent or house your business. The second floor has two apartments (a 1-bed, 1-bath and a 3-bed, 2-bath). The offices are interconnected and could all be occupied by a single tenant or could remain leased to two or more tenants. The property includes 14 on-site parking spaces. All tenants are long term. Easy access to the Dan Ryan Expressway, CTA Red Line, CTA bus #87 and Metra. Neighboring businesses include McDonald's, O'Reilly Auto Parts, a Clarks gas station, and several offices, retail and commercial services. Strip mall located a few blocks east houses both national and regional tenants, including Athletico, T-Mobile, Wing Stop, H and R Block and Pete's Produce grocery store. Solid building, below market rents, great location with steady traffic flow of 13,500 vehicles per day....makes for a great investment opportunity.
| Price History | |
|---|---|
| 6/29/2023 | Listed $460,000 |
| 10/9/2023 | 11% - $410,000 |
| 6/1/2024 | 3% - $399,000 |
General Features
| Cooling | Central Air,Window Unit(s) |
|---|---|
| Possession | Closing |
| Year Built | 1958 |
| Electric | Circuit Breakers,Service - 101 to 200 Amps |
| Tenant Pays | Electricity |
| Stories | 2 |
| Property SubType | Mixed Use |
| Tax Year | 2021 |
| Gross Income | 6500 |
| County | Cook |
| Net Operating Income | 44636 |
| Operating Expense | 33364 |
| Insurance Expense | 5755 |
| Property Type | Commercial Sale |
| Status | Active |
| Directions | 87th Street to S. Dorchester. Building is on the southeast corner. |
| City | Chicago |
| NumberOfUnitsTotal | 5 |
| MLS Area | CHI - Calumet Heights |
| Lot Size Square Feet | 4125 |
| Street Name | 87th |
| Tax Annual Amount | 7573 |
| Electric Expense | 2006 |
| Additional Parcels Y/N | No |
| Days on Market | 345 |
| Standard Status | Active |
| Property Type | Mixed Use |
Interior Features
| Street Suffix | Street |
|---|
Exterior Features
| Building Area Total | 6826 |
|---|---|
| Lot Dimensions | 4125 |
| Exterior | Brick |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 60619
Price
Taxes
Visits
Year Built
Walkscore
Midwest Real Estate Data (MRED) All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than NextHome Select Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2024 All rights reserved.Based on information submitted to the MLS GRID as of June 17, 2024 5:42 PM UTC All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice.
Data is updated as of June 17, 2024 5:42 PM UTC
