1131 175Th StHomewood, IL 60430

Property Details for 1131 175Th St

Year built

1985

Lot size

1.38 AC

Property type

Retail space

APN

29-32-200-029

APU

2932200029

Description

This exceptional 18,200 square foot multi-tenant building in Homewood, IL, presents a lucrative investment opportunity. Located at 1131 175th Street, the property boasts eight separate office spaces, three of which feature convenient overhead drive-in doors ideal for contractors, distributors, or businesses requiring rear access. Currently, two units are available for lease, with rates starting at $17.50 per square foot annually, depending on the space. The building is zoned M-1 (manufacturing), allowing for a wide range of uses including office space, contractor shops, distribution centers, and more. Interested parties should contact the Village of Homewood for a complete list of permitted uses. A significant advantage is the presence of a long-term lease with a cannabis dispensary, providing stable income. The property also benefits from a newly installed TPO rolled roof (August 2023), ensuring long-term structural integrity. Its prime location, just blocks from the soon-to-open Homewood Casino, promises increased foot traffic and visibility, enhancing its investment potential. The asking price for the entire building is $675,000, offering a compelling return on investment in a thriving market. This is a rare opportunity to acquire a versatile and well-maintained commercial property in a rapidly developing area.

• CAP approach

  CAP return

  Valuation

  6%

  $28,398,350

  6.5%

  $26,213,860

  7%

  $24,341,442

• Comparable approach

  Method

  Valuation

  Relative Method

  $19,730,890

  Geo Method

  $19,730,890

• Alternative Use

  Use

  Valuation

  Residential

  $22,112,372

  Hospitality

  $20,254,814

  Educational

  $16,851,768

  Medical

  $17,431,326

  Retail

  $26,213,860

Location Insight

City

Homewood

County

Cook

State

Illinois

Latitude

41.5713

Longitude

-87.6446

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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