4520 63Rd StChicago, IL 60629

Property Details for 4520 63Rd St

Year built

1965

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.07 AC

Property size (Sq ft)

12,518 SF

Property type

Residential income properties

Property subtype

Residential income homes

APN

19-15-326-018

APU

1915326018

Description

This exceptional mixed-use property at 4520 W 63rd St, Chicago, IL 60629, presents a compelling investment opportunity. The property encompasses two buildings totaling 12,500 square feet on an 8,367 square foot lot, with a desirable B1-1 Commercial zoning designation. Built in 1965, the two-story structures currently feature a mix of retail and office space, along with residential units (not included in the commercial square footage). The main building (4520) includes retail and office space, while the adjacent buildings (4522-4524) house two 2-bedroom apartments and additional retail space. A separate garage/warehouse with second-level storage is also included. Currently, 7,650 square feet of space is vacant, offering significant potential for lease income. The property boasts 66.94 feet of frontage on West 63rd Street at the corner of Kolmar Avenue, providing excellent visibility. Six parking spaces are available on-site, supplemented by street parking on Kolmar Avenue. The location benefits from high traffic volume (22,741 vehicles per day), proximity to Midway Airport (1.8 miles), and a strong residential demographic within a one-mile radius (population 30,633, average household income $75,428). The area features numerous amenities, including parks, grocery stores, schools, and easy access to restaurants, shopping, and hotels in Cicero. This property is ideal for investors seeking a versatile mixed-use asset in a thriving Chicago neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $4,988,432

  6.5%

  $4,604,706

  7%

  $4,275,798

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,527,228

  Geo Method

  $2,527,228

• Alternative Use

  Use

  Valuation

  Residential

  $4,604,706

  Hospitality

  $4,217,886

  Educational

  $3,509,232

  Medical

  $3,629,919

  Retail

  $5,458,804

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.7788

Longitude

-87.7359

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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