3201 Union Ave Steger, IL 60475

This mixed-use property, located at 3201 Union Avenue in Steger, Illinois, presents a compelling value-add investment opportunity. The 10,950 square foot, two-story building sits on a 0.42-acre lot and features a blend of retail/office and residential space. The ground floor comprises two retail/office units with private entries, benefiting from high visibility and monumental signage on Union Avenue. Upstairs, two three-bedroom, two-bathroom apartments provide rental income. A recently remodeled lower level, boasting 9-foot ceilings, an open concept layout, kitchenette, and restrooms, offers additional potential for lease or owner-use. The property includes ample parking with approximately 36 spaces distributed across the front, side, and fenced rear areas. Built in 2018, the building is currently 67% occupied and is classified as Class C. The property is zoned B-1 and offers excellent access to major transportation arteries, including the Bishop Ford Freeway, I-94, I-80, and I-57. Its location in Steger, Cook County, places it approximately 35 miles south of Chicago and 5 miles from the Indiana border. The asking price is $650,000, translating to $59.36 per square foot. This represents a below-replacement-cost opportunity with significant potential for increased rental income and property value through lease-up of vacant spaces and further improvements. The property is a multi-tenant building with a modified lease type.