3344 Chicago RdSteger, IL 60475

Property Details for 3344 Chicago Rd

Year built

1918

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.18 AC

Property size (Sq ft)

4,645 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

32-32-429-026

APU

3232429026

Description

This exceptional mixed-use property, located at 3344 Chicago Road in Steger, Illinois, presents a compelling investment opportunity. The building boasts excellent visibility at a busy intersection on Chicago/Steger Road, ensuring high traffic exposure for retail tenants. The property comprises two ground-floor retail spaces, one measuring 1,800 square feet and the other 1,200 square feet. Above the retail units, the second floor features three residential apartments: two two-bedroom, one-bathroom units and one one-bedroom, one-bathroom unit. Currently, rental rates are below market value, offering a significant opportunity to increase the property's net operating income and improve the current 12% capitalization rate. This presents a unique chance to enhance profitability through strategic rent adjustments and potential property upgrades. The property is offered at $290,000. This is a rare chance to acquire a well-located mixed-use building with substantial upside potential in a growing market. Serious inquiries are encouraged. Further details are available upon request.

Location Insight

City

Steger

County

Cook

State

Illinois

Latitude

41.47

Longitude

-87.6363

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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