10534 Michigan AveChicago, IL 60628

  • Commercial real estate
  • 0.17 AC
For Sale
$1,116,000 View listing

Property Details for 10534 Michigan Ave

Year built
1980
Lot size
0.17 AC
Property type
Commercial real estate
APN
25-15-119-051
APU
2515119051

Description

This exceptional opportunity presents a well-established auto repair shop in Chicago, IL, boasting a 49-year history of success. The 15,000 square foot building sits on a 41,714 square foot lot and includes three overhead doors, a paint booth, and ample parking for 50 vehicles. Some essential equipment is included in the sale, ensuring a smooth transition for the new owner. The property's prime location in Cook County, at 10534 S Michigan Ave, zip code 60628, ensures access to a diverse clientele and benefits from decades of established customer loyalty. The asking price is $1,116,000, translating to $783.33 per square foot. This single-story building offers significant potential for continued growth and profitability. Financial details are available upon request. This is a turnkey operation ready for a new owner to continue its legacy of automotive expertise. The property is zoned for retail use and is a single building on a large lot. The business has a proven track record and is well-positioned for continued success.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $2,652,911
    Hospitality
    $2,430,052
    Educational
    $2,021,775
    Medical
    $2,091,307
    Retail
    $3,144,983

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.7023
Longitude
-87.6212
CBSA code
16980
CBSA name
CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$3,499
$16,227
$736
$16,963
-
$64,908
$2,944
$67,852

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