9034 Commercial AveChicago, IL 60617

Property Details for 9034 Commercial Ave

Year built

1898

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.08 AC

Property size (Sq ft)

5,401 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

26-06-223-025

APU

2606223025

Description

This well-maintained, three-story mixed-use building in Chicago's vibrant 60617 zip code presents a compelling investment opportunity. The property boasts a total of 5,401 square feet, including 4,500 square feet of net rentable space, currently housing seven units: a large storefront and six apartments. The storefront recently underwent a complete remodel, featuring a new bathroom and furnace. All six apartments are currently occupied with month-to-month leases, ensuring a steady income stream. The building's strong financial performance is reflected in its impressive Net Operating Income (NOI) of $43,261, and 100% occupancy. Built in 1898, this Class A property sits on a 0.08-acre lot and is zoned B 1-2. Its prime location offers convenient access to public transportation and numerous local businesses, making it an attractive option for both residents and businesses. The property's strong cash flow and potential for future appreciation make it an ideal addition to any investment portfolio. The Cook County Assessor's Parcel Number (APN) is 26-06-223-025. This is an owner-user investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $2,152,302

  6.5%

  $1,986,740

  7%

  $1,844,830

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,090,394

  Geo Method

  $1,090,394

• Alternative Use

  Use

  Valuation

  Residential

  $1,986,740

  Hospitality

  $1,819,844

  Educational

  $1,514,088

  Medical

  $1,566,160

  Retail

  $2,355,249

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.7309

Longitude

-87.5517

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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