3850 Wallace StChicago, IL 60609

Property Details for 3850 Wallace St

Year built

1927

Lot size

0.15 AC

Property size (Sq ft)

700 SF

Property type

Retail space

APN

17-33-324-039

APU

1733324039

Description

This exceptional 6,750-square-foot commercial property, located at 3850 S Wallace St in Chicago's Bridgeport/Canaryville neighborhood (zip code 60609, Cook County, Illinois), presents a unique investment opportunity. Currently vacant, the property offers significant flexibility for a variety of uses. Previously occupied as a restaurant, the building's existing structure could be easily adapted to suit a new tenant's needs. The property is zoned for commercial use and could also be re-purposed for residential development, subject to necessary approvals. The site boasts convenient street access from both Wallace and Pershing Streets, providing excellent visibility and accessibility for customers and employees. The substantial 6,750 square feet of vacant space allows for ample room for expansion or customization. This single-tenant property is ideal for businesses seeking a prominent location in a vibrant Chicago neighborhood. The long-term tenancy potential makes this a stable and attractive investment. This is a rare opportunity to acquire a sizable commercial property in a rapidly developing area of Chicago. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $330,691

  6.5%

  $305,253

  7%

  $283,450

• Comparable approach

  Method

  Valuation

  Relative Method

  $229,761

  Geo Method

  $229,761

• Alternative Use

  Use

  Valuation

  Residential

  $257,493

  Hospitality

  $235,862

  Educational

  $196,234

  Medical

  $202,983

  Retail

  $305,253

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8237

Longitude

-87.6413

CBSA code

16980

CBSA name

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

Property Tax & Assessments

FAQs

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