1401 E 87th Street
Chicago, IL 60619

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Description

Well-maintained 10,375 SF mixed-use investment property located along the high-traffic 87th Street commercial corridor. The building offers 6,058 SF of improved space, featuring ground-floor office suites and two residential units above. The first floor is comprised of two occupied medical offices plus an approximately 800 SF vacant suite, freshly painted and move-in ready-ideal for an owner-user or additional rental income. The office suites are interconnected and may be utilized by a single tenant or leased separately to multiple users. The second floor includes two residential apartments: one vacant 1-bed/1-bath unit and one 3-bed/2-bath unit, occupied by a long-term tenant. The property provides 14 on-site parking spaces, a significant asset for both commercial and residential users. Strategically located with easy access to the Dan Ryan Expressway, CTA Red Line, CTA Bus Route #87, and Metra. Surrounding area features strong national and regional tenancy, including McDonald's, O'Reilly Auto Parts, Clark's gas station, and a nearby strip center anchored by Athletico, T-Mobile, Wingstop, H&R Block, and Pete's Produce. With below-market rents, stable long-term tenancy, and approximately 13,500 vehicles per day along 87th Street, this solid mixed-use asset presents an excellent value-add investment opportunity in a proven commercial corridor.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60619
• Year Built: 1958
• Sq.Ft.: 6,826 sq ft
• Stories: 2
• Units: 5 units
• # Of Apts: 2
• # Of Offices: 3
• # Of Stores: 2
• Approximate Age: Older
• Building Area Total: 6826
• Built Before 1978 (Y/N): Yes
• Construction Materials: Brick
• Cooling: Central Air, Window Unit(s)
• Directions: 87th Street to S. Dorchester. Building is on the southeast corner.
• Electric: Circuit Breakers, Service - 101 to 200 Amps
• Electric Expense: 2006
• Electric Expense Source: Owner Projection
• Expense Year: 2022
• Fire Protection: Smoke or Fire Protectors, Carbon Monoxide Detector(s)
• Fuel Expense Source: Owner Projection
• Geographic Locale: East/West Corridor, Chicago South
• Gross Income: 6500
• Gross Rent Multiplier: 5.9
• Gross Scheduled Income: 78000
• Information: 24-Hr Notice Required
• Insurance Expense: 5755
• Insurance Expense Source: Owner Projection
• Lot Size Square Feet: 4125
• Main Type: Commercial Sale
• Operating Expense: 33364
• Other Expense: 18030
• Other Expense Source: Owner Projection
• Outdoor Parking: 13-18 Spaces
• Property Sub Type: Mixed Use
• Tax Annual Amount: 5191
• Tax Year: 2024
• Tenant Pays: Electricity
• Total Annual Expense Source: Owner Projection
• Total Monthly Income: 6500
• Township: Hyde Park
• Trash Expense Source: Owner Projection
• Water Expense Source: Owner Projection