12339 Harlem AvePalos Heights, IL 60463

Property Details for 12339 Harlem Ave

Year built

1950

Lot size

0.31 AC

Property type

Retail space

APN

24-30-300-007

APU

2430300007

Description

This exceptional investment opportunity presents a three-tenant retail storefront located at 12339 S Harlem Ave, Palos Heights, IL 60463, in the bustling Palos Heights Business District. The property boasts a total of 5,010 square feet, currently operating at 100% occupancy, generating a substantial net operating income (NOI) of $17,704. Each of the three units features its own separate heating and air conditioning systems, individually metered for efficient utility management. Convenient parking is available on both Harlem Avenue and 71st Court. The building underwent a significant upgrade in January 2021 with the installation of a new roof, backed by a 25-year warranty, ensuring long-term structural integrity. The property's financial performance is further supported by stable lease agreements

• CAP approach

  CAP return

  Valuation

  6%

  $6,320,928

  6.5%

  $5,834,702

  7%

  $5,417,938

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,391,718

  Geo Method

  $4,391,718

• Alternative Use

  Use

  Valuation

  Residential

  $4,921,790

  Hospitality

  $4,508,333

  Educational

  $3,750,880

  Medical

  $3,879,878

  Retail

  $5,834,702

Location Insight

City

Palos Heights

County

Cook

State

Illinois

Latitude

41.6668

Longitude

-87.796

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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