3662 147Th StMidlothian, IL 60445

Property Details for 3662 147Th St

Year built

1964

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.09 AC

Property size (Sq ft)

3,600 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

28-11-127-017

APU

2811127017

Description

This exceptional 3,600 square foot mixed-use brick building presents a lucrative investment opportunity in Midlothian, IL, located at 3662 W 147th Street. The property offers significant flexibility for owner-occupancy or purely rental income. The upper level boasts a spacious 1,800 square foot apartment, ideal for residential use. This deluxe apartment features an open floor plan, high-quality wood laminate flooring, three large bedrooms, a kitchen with an island, a modern bathroom, and washer/dryer hookups. The ground floor comprises a 1,800 square foot commercial storefront, complete with custom-built shelving and a dedicated office space. Eight tandem parking spaces are conveniently located on the property. The building is further enhanced by a state-of-the-art fire and police system, ensuring both safety and peace of mind. The property is priced at $289,000, and the seller is offering assistance with buyer closing costs. This presents a rare chance to acquire a versatile property with strong income potential in a desirable location. The property's layout allows for multiple income streams, whether through owner-occupancy and rental of the commercial space, or by renting both the apartment and storefront separately. Easy to show.

• CAP approach

  CAP return

  Valuation

  6%

  $1,434,602

  6.5%

  $1,324,248

  7%

  $1,229,659

• Comparable approach

  Method

  Valuation

  Relative Method

  $726,795

  Geo Method

  $726,795

• Alternative Use

  Use

  Valuation

  Residential

  $1,324,248

  Hospitality

  $1,213,004

  Educational

  $1,009,205

  Medical

  $1,043,914

  Retail

  $1,569,875

Location Insight

City

Midlothian

County

Cook

State

Illinois

Latitude

41.6259

Longitude

-87.7104

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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