6105 Archer RdSummit, IL 60501

Property Details for 6105 Archer Rd

Year built

1936

Construction

FRAME

Lot size

0.06 AC

Property size (Sq ft)

2,411 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

18-13-306-003

APU

1813306003

Description

This exceptional mixed-use property at 6105 S Archer Road, Summit, IL presents a unique investment opportunity. The main building encompasses approximately 2,411 square feet and is currently configured as a fully operational bar and entertainment venue. All existing bar fixtures and equipment are included in the sale, providing a seamless transition for the new owner. This turnkey operation boasts 10 televisions, ample seating (tables, chairs, and bar stools), and is ready for immediate operation. The property's prime location near major expressways, shopping centers, and restaurants ensures high visibility and convenient access for patrons. Adding to the property's appeal is a 2-bedroom apartment located at the rear of the building, offering convenient living quarters for the owner or potential rental income. This combined commercial and residential space presents a rare opportunity to own and operate a thriving business while enjoying the convenience of on-site living. The property is offered at $294,000 and represents a compelling investment in a high-demand area. Serious inquiries are encouraged to schedule a viewing and explore this exciting prospect. The absence of a land acreage listing suggests the property is situated on a relatively small lot. This turnkey operation is ready for a new owner to step in and continue its success.

• CAP approach

  CAP return

  Valuation

  6%

  $924,640

  6.5%

  $853,514

  7%

  $792,548

• Comparable approach

  Method

  Valuation

  Relative Method

  $486,751

  Geo Method

  $486,751

• Alternative Use

  Use

  Valuation

  Residential

  $853,514

  Hospitality

  $781,814

  Educational

  $650,460

  Medical

  $672,830

  Retail

  $1,011,827

Location Insight

City

Summit

County

Cook

State

Illinois

Latitude

41.7804

Longitude

-87.8125

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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