4039 147Th StMidlothian, IL 60445

Property Details for 4039 147Th St

Year built

1988

Property size (Sq ft)

2,850 SF

Property type

Mixed-use properties

Description

This exceptional mixed-use property in Midlothian, IL, presents a compelling investment opportunity. The 2,850 square foot brick building, situated on a corner lot with 147 feet of frontage on busy 147th Street, is fully leased and boasts a spacious hair salon with two bathrooms and a rear apartment unit. Fifteen parking spaces are included, generating an additional $300 monthly income from the vacant lot. Recent updates exceeding $100,000 include a new tuck point and new water heaters. The property includes multiple PIN numbers (2810403004, 2810403005, 2810403006, 2810403007) and the legal address encompasses 4039-4041 & 4031-4037 W 147th Street. The adjacent vacant lot, ideal for development, offers significant potential for expansion, attracting national tenants such as Starbucks or Dunkin' Donuts. The possibility of adding a second apartment unit within the salon area further enhances income potential. The property is located within a Tax Increment Financing (TIF) district. The seller is open to selling the vacant land separately for $129,900 and the mixed-use building for $329,900, or the entire property for $459,900. This is a rare chance to acquire a strong income-producing asset with substantial upside.

Location Insight

City

Midlothian

County

Cook

State

Illinois

Latitude

41.6252

Longitude

-87.7195

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