1747 87Th StChicago, IL 60617

Property Details for 1747 87Th St

Year built

1958

Lot size

0.07 AC

Property size (Sq ft)

2,900 SF

Property type

Retail space

APN

25-01-101-019

APU

2501101019

Description

This exceptional two-unit building, located in Chicago's vibrant Stony Island/Burnside TIF District, offers 3,000 square feet of adaptable space. Currently configured as a medical office, it's easily repurposed for retail, co-working, education, wellness, or other uses. Strategically positioned on a corner lot near Stoney Island Avenue, it boasts excellent visibility and accessibility. Each unit has a private entrance; Unit 1 (87th Street frontage) includes a reception area, open workspace, private offices, and a bathroom. Unit 2 features a drop-off area, waiting room, multiple rooms, a private office, kitchen, and two bathrooms. Ample parking is available. Built in 1958, this single-story, Class B building sits on a 9,075 sq ft lot, zoned B3-1. The asking price is $317,000. This presents a significant investment opportunity with considerable upside potential. The property's versatility and prime location make it an attractive option for a wide range of businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $1,370,007

  6.5%

  $1,264,622

  7%

  $1,174,292

• Comparable approach

  Method

  Valuation

  Relative Method

  $951,867

  Geo Method

  $951,867

• Alternative Use

  Use

  Valuation

  Residential

  $1,066,756

  Hospitality

  $977,142

  Educational

  $812,971

  Medical

  $840,930

  Retail

  $1,264,622

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.7367

Longitude

-87.5809

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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