2622 Cicero AveChicago, IL 60639

Property Details for 2622 Cicero Ave

Year built

1978

Lot size

0.07 AC

Property size (Sq ft)

600 SF

Property type

Retail properties

Property subtype

Retail space

APN

13-28-415-027

APU

1328415027

Description

This exceptional commercial property presents a rare opportunity to acquire a well-established used car dealership on North Cicero Avenue in Chicago. Boasting a 90-year legacy at this location, the property benefits from a high-traffic corner lot with a stoplight and bus stop, ensuring excellent visibility and accessibility. The 6,250 square foot lot includes a 1,100 square foot, well-maintained office building and a 350 square foot garage. Convenient access is provided by two street access aprons from Drummond Avenue, plus six additional parking spaces accessible from the alley, totaling 30 parking spaces. The property is zoned for used car sales under a grandfather clause, ensuring this permitted use continues for the next owner. The single-tenant building is classified as Class B and was constructed in 2002. It features electric power but no elevators. This prime location is surrounded by numerous established businesses, including Starbucks, McDonald's, Walgreens, Dunkin', KFC, Subway, and Dollar Tree, creating a high-traffic area ideal for a thriving car dealership. The property is available for lease at $4250 per month or for purchase at $625,000. This is a unique opportunity to acquire a turn-key operation with a proven track record in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $265,497

  6.5%

  $245,074

  7%

  $227,568

• Comparable approach

  Method

  Valuation

  Relative Method

  $196,938

  Geo Method

  $196,938

• Alternative Use

  Use

  Valuation

  Residential

  $206,729

  Hospitality

  $189,363

  Educational

  $157,547

  Medical

  $162,966

  Retail

  $245,074

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9286

Longitude

-87.7469

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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