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$ 390,000
Est. payment /mo
Active Under Contract
1401 E 87th ST Chicago, IL 60619
6,826 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 6,826 sqft
Price per Sqft $57
MLS Listing ID 12553969
Year Built 1958
Annual Tax Amount $5,191
Tax Year 2024
Lot Dimensions 4125
Property Sub-Type Mixed Use
Property 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.
Location
State IL
County Cook
Area Chi - Calumet Heights
Interior
Cooling Central Air, Window Unit(s)
Fireplace N
Building
Dwelling Type Mixed Use
Structure Type Brick
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Listed by Pamela Tuggle of @properties Christie's International Real Estate