7406 Addison StChicago, IL 60634

Property Details for 7406 Addison St

Year built

1928

Lot size

0.07 AC

Property size (Sq ft)

1,600 SF

Property type

Retail space

APN

12-24-228-029

APU

1224228029

Description

This exceptional Chicago commercial property, located at 7406 W Addison Street in Cook County, Illinois, presents a unique investment opportunity. Priced at $165,000, this retail property boasts a total lot size of 3,125 square feet, including a 1,600 square foot brick building. The property's prime location on busy Addison Street, near the intersection of Harlem Avenue and Irving Park Road, offers excellent visibility and accessibility. The building currently houses a long-term tenant operating a cafe/restaurant, providing immediate income potential or the option for a new business venture. The tenant is open to renewing their lease or vacating, offering flexibility to the new owner. A key feature is a beautiful fenced-in back terrace, adding to the property's appeal and potential uses. Street parking is available. This is an ideal opportunity for an investor seeking a strong return or an entrepreneur looking to establish a thriving business in a high-traffic area. The seller is highly motivated, making this an attractive proposition for a quick and advantageous purchase. The property's zip code is 60634.

• CAP approach

  CAP return

  Valuation

  6%

  $707,991

  6.5%

  $653,530

  7%

  $606,849

• Comparable approach

  Method

  Valuation

  Relative Method

  $525,168

  Geo Method

  $525,168

• Alternative Use

  Use

  Valuation

  Residential

  $551,277

  Hospitality

  $504,967

  Educational

  $420,126

  Medical

  $434,575

  Retail

  $653,530

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9454

Longitude

-87.8122

CBSA code

16980

CBSA name

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

Property Tax & Assessments

FAQs

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