1525 Homer StChicago, IL 60642

Property Details for 1525 Homer St

Year built

1907

Lot size

0.25 AC

Property size (Sq ft)

52,400 SF

Property type

Office buildings

APN

14-32-119-012

APU

1432119012

Description

This exceptional 25,000-square-foot office building, located at 1525 W Homer St in Chicago's desirable Lincoln Park/Bucktown neighborhood, presents a compelling value-add investment opportunity. The four-story, Class B building, constructed in 1900 and renovated in 2014, boasts a flexible floor plan ideal for creative or traditional office uses. Currently 77% occupied, the property offers affordable rents and significant upside potential. With a typical floor size of 5,564 square feet, it's well-suited for leasing to a variety of tenants. The property sits on a 10,890-square-foot lot and includes 11 adjacent parking spaces, supplemented by ample street parking. Its prime location offers unparalleled accessibility, within two blocks of I-90, the Clybourn Metra Station, and The 606 Trail, ensuring convenient commutes for employees via car, public transportation, or bike. The building's proximity to the Lincoln Yards Development further enhances its long-term value. This is a rare chance to own real estate in a thriving area, with the potential for both rental income and owner-occupancy. The permitted zoning is PMD2. This property is an ideal investment for those seeking a stable, cash-flowing asset with significant growth potential in a highly sought-after Chicago location.

• CAP approach

  CAP return

  Valuation

  6%

  $16,839,866

  6.5%

  $15,544,492

  7%

  $14,434,171

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,825,100

  Geo Method

  $6,825,100

• Alternative Use

  Use

  Valuation

  Residential

  $19,275,170

  Hospitality

  $17,655,952

  Educational

  $14,689,545

  Medical

  $15,194,741

  Retail

  $22,850,404

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9174

Longitude

-87.6662

CBSA code

16980

CBSA name

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

Property Tax & Assessments

FAQs

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