1607 87Th StChicago, IL 60620

Property Details for 1607 87Th St

Year built

1991

Lot size

0.28 AC

Property size (Sq ft)

1,600 SF

Property type

Retail properties

Property subtype

Retail space

APN

25-06-206-048

APU

2506206048

Description

This exceptional 1,000-square-foot freestanding retail building presents a unique investment opportunity in the vibrant Auburn Gresham neighborhood of South Chicago. Situated on a 0.28-acre lot at the highly visible southwest corner of 87th and Ashland Avenue, this single-tenant property boasts a convenient drive-thru, ample parking (12 spaces), and eye-catching pylon signage potential. Built in 1991, the building is a single-story, Class C structure offering a "vanilla box" interior ready for immediate tenant build-out. The B3-2 zoning allows for a variety of retail uses. The property benefits from its location within a thriving commercial area, surrounded by established businesses including Oxford Insurance, H&R Block, Dunkin' Donuts, and Family Dollar, ensuring high foot traffic and visibility. This turnkey property is ideal for owner-occupants or investors seeking a strong return in a rapidly developing market. The property's modern architecture and attractive curb appeal further enhance its desirability. The ample parking ensures convenient access for customers and employees. Don't miss this chance to acquire a prime retail location in a high-traffic area.

• CAP approach

  CAP return

  Valuation

  6%

  $755,866

  6.5%

  $697,722

  7%

  $647,885

• Comparable approach

  Method

  Valuation

  Relative Method

  $525,168

  Geo Method

  $525,168

• Alternative Use

  Use

  Valuation

  Residential

  $588,555

  Hospitality

  $539,113

  Educational

  $448,536

  Medical

  $463,962

  Retail

  $697,722

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.7355

Longitude

-87.6634

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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