18114 Martin AveHomewood, IL 60430

Property Details for 18114 Martin Ave

Year built

1980

Lot size

0.69 AC

Property type

Office properties

APN

29-31-313-031-1001

APU

29313130311001

Description

This exceptional investment opportunity presents a 28,275 square foot mixed-use brick building in Homewood, IL, ideally situated within the city's Transit-Oriented Development Plan. The property boasts 16 residential units (15 currently rented, 1 preparing for occupancy) and 10 commercial units (all currently rented). Each residential unit features a separate furnace and central air conditioning system. Similarly, each of the 10 commercial units (approximately 1050 sq ft each) has its own furnace and central air conditioning. The building comprises three floors, each approximately 9,425 square feet, plus a full basement. Basement amenities include a laundry room (two washers, three dryers), a half-bath, ample storage for both residential and commercial tenants, a community room, and additional building storage. The property includes a private parking lot accommodating 45+ vehicles, including two handicap-accessible spaces. The building was originally constructed as condominiums with 24 separate PINs, but is being sold as a single entity

• CAP approach

  CAP return

  Valuation

  6%

  $9,641,145

  6.5%

  $8,899,518

  7%

  $8,263,838

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,907,500

  Geo Method

  $3,907,500

• Alternative Use

  Use

  Valuation

  Residential

  $11,035,403

  Hospitality

  $10,108,370

  Educational

  $8,410,045

  Medical

  $8,699,279

  Retail

  $13,082,292

Location Insight

City

Homewood

County

Cook

State

Illinois

Latitude

41.5606

Longitude

-87.6674

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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