1656 Willow RdNorthfield, IL 60093

Property Details for 1656 Willow Rd

Year built

1938

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.06 AC

Property size (Sq ft)

4,500 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

05-19-303-007

APU

519303007

Description

This exceptional mixed-use property at 1654-1656 Willow Road in Northfield, Illinois, presents a compelling investment opportunity. The 3,525 square foot building boasts a vacant street-level retail space/office, ideal for owner-occupancy or lease. Upstairs, a two-bedroom, one-bathroom apartment provides additional income potential. The property includes a 50x100 foot parking lot offering 75 feet of frontage on Willow Road, ensuring excellent visibility and accessibility. Its prime location is within a block of an interstate, providing easy access to O'Hare Airport, downtown Chicago, and major roadways. The Village Center zoning allows for diverse uses. This is a remarkable opportunity for both owner-users and developers. Two adjacent buildings are also available for purchase, expanding the potential land area to 12,500 square feet with 125 feet of frontage. The asking price is $895,000, translating to $253.90 per square foot. A drive-thru option is already in place. Further details on zoning regulations can be found at the provided link: [https://northfield.municipalcodeonline.com/book?type=ordinances#name=APPENDIX_B_SUBDIVISIONS](https://northfield.municipalcodeonline.com/book?type=ordinances#name=APPENDIX_B_SUBDIVISIONS). The property's zip code is 60093, located in Cook County.

• CAP approach

  CAP return

  Valuation

  6%

  $1,679,672

  6.5%

  $1,550,467

  7%

  $1,439,719

• Comparable approach

  Method

  Valuation

  Relative Method

  $908,494

  Geo Method

  $908,494

• Alternative Use

  Use

  Valuation

  Residential

  $1,550,467

  Hospitality

  $1,420,219

  Educational

  $1,181,606

  Medical

  $1,222,243

  Retail

  $1,838,053

Location Insight

City

Northfield

County

Cook

State

Illinois

Latitude

42.1011

Longitude

-87.7658

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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