6955 111Th StWorth, IL 60482

Property Details for 6955 111Th St

Year built

1967

Property size (Sq ft)

17,059 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional estate sale presents a unique opportunity to acquire a seven-unit, 17,059-square-foot retail property located at 6955-6969 W. 111th Street in Worth, Illinois. The property, built in 1967, boasts 100% occupancy as of June 7, 2024, with long-term tenants on modified-term leases. Currently operating at below-market rates, this presents a significant value-add opportunity for investors. The asking price is $1,660,000, reflecting a 6.11% cap rate based on a net operating income (NOI) of $101,371. The property features 40 parking spaces and sits on a 30,544-square-foot lot, zoned B1. Its prime location on the southeast corner of 111th Street and Worth Avenue, one block from the Metra station, ensures high visibility and traffic. The surrounding area includes numerous established retailers, further enhancing its appeal. This single-story building is part of a three-property portfolio available for sale individually or as a package. The property's assessed value supports the asking price. This is a distressed sale, offering a compelling investment opportunity for those seeking a value-add project with strong potential for increased returns. The property's address is 6955 W 111th St, Worth, IL 60482, with APN numbers 24-19-105-002-0000, 24-19-105-026-0000, 24-19-105-027-0000, and 24-19-106-006-0000.

Location Insight

City

Worth

County

Cook

State

Illinois

Latitude

41.6901

Longitude

-87.793

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