7432 Grand AveChicago, IL 60707

Property Details for 7432 Grand Ave

Year built

1949

Lot size

0.07 AC

Property type

Retail space

APN

12-25-418-039

APU

1225418039

Description

This 3,595 square foot office building, located at 7432 W Grand Ave in Elmwood Park, IL, is available for $399,000. The property sits on a 6,250 square foot lot and boasts a highly visible location directly across from the Elmwood Park Train Station on Grand Avenue. Built in 1949, the building features two large open rooms, one with a recently updated kitchen, and several enclosed offices. There are also two bathrooms and a substantial storage/utility room. The property includes two rear access doors and a large rear parking lot. The building is currently vacant and available for occupancy on July 17, 2024. Zoned B-2, this versatile property offers significant potential for various uses, including continued use as an office space or redevelopment for multi-family housing. The property is being sold "as is." The asking price equates to $110.99 per square foot. This is an owner/user investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $1,043,650

  6.5%

  $963,373

  7%

  $894,560

• Comparable approach

  Method

  Valuation

  Relative Method

  $406,380

  Geo Method

  $406,380

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,890,230

  Mixed-Use / Specialty

  $955,268

  Hospitality / Lodging

  $694,769

  Office

  $944,729

  Institutional / Educational

  $991,425

  Residential Income

  $1,159,970

  Multifamily

  $1,417,090

  Automotive / Energy

  $849,793

  Parking / Income-Based Land

  $297,867

  Restaurant / Food Service

  $486,875

  Healthcare / Senior Housing

  $984,399

Location Insight

City

Elmwood Park

County

Cook

State

Illinois

Latitude

41.9253

Longitude

-87.8128

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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