9920 Walden PkwyChicago, IL 60643

Property Details for 9920 Walden Pkwy

Year built

1933

Lot size

0.15 AC

Property size (Sq ft)

4,000 SF

Property type

Auto shops

APN

25-07-402-016

APU

2507402016

Description

This exceptional 4,000-square-foot storefront, located at 9920 S Walden Pkwy in Chicago's Beverly neighborhood (zip code 60643), presents a unique investment opportunity. Built in 1933, this Class B property boasts a captivating design featuring a clear-span floor, stunning bow truss beams supporting an 18-foot ceiling, exposed brick walls, and two large industrial skylights. Four garage doors, one of which provides pass-through access, offer versatile options for customization. The property includes 26 deeded parking spaces across three PINs, a significant advantage in this location. Currently configured as a retail space, the property's adaptable layout is ideal for various uses, including office space, event venues, fitness centers, or art galleries. The property sits on an 8,000-square-foot lot and is zoned B 1-3. With a strong NOI of $90,000 and a compelling 12.88% cap rate, this owner-user investment offers significant potential. The asking price is $699,000 ($174.75 per square foot). The property is currently occupied, with the occupancy date set for February 28, 2024. Its prime location in Beverly, steps from the 99th Street business district and Metra train, provides easy access to downtown Chicago (approximately a 25-minute commute). This remarkable property offers a blend of historical charm and modern adaptability, making it an attractive investment in a thriving community. The concrete floor is ready for finishing with stain and hard poly. Air rights of 4,000 square feet are also included.

• CAP approach

  CAP return

  Valuation

  6%

  $1,889,664

  6.5%

  $1,744,306

  7%

  $1,619,712

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,312,920

  Geo Method

  $1,312,920

• Alternative Use

  Use

  Valuation

  Residential

  $1,471,387

  Hospitality

  $1,347,783

  Educational

  $1,121,339

  Medical

  $1,159,904

  Retail

  $1,744,306

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.7132

Longitude

-87.668

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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