10140 Roberts RdPalos Hills, IL 60465

Property Details for 10140 Roberts Rd

Year built

1977

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.51 AC

Property size (Sq ft)

7,753 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

23-11-408-010

APU

2311408010

Description

This 2,000-7,800 square foot freestanding building, located at 10140 S Roberts Rd in Palos Hills, IL 60465, presents a unique investment opportunity. Recently renovated in 2023, the property boasts a ready-to-go banquet hall with seating for up to 260 people, plus an additional front bar area suitable for restaurant or bar use. The 0.5-acre lot is situated in a thriving commercial district, surrounded by national retailers such as Jewel-Osco, Burger King, Planet Fitness, and Dunkin' Donuts. The property's high visibility and convenient location near Moraine Valley Community College, Stagg High School, Koraes Elementary School, and Palos Hospital ensure a strong customer base. The building is zoned C1 and features a modified lease type. Currently vacant, this property offers significant potential for a variety of uses. The asking price is $1,095,000, and the seller is offering a closing cost credit to the buyer. This is a turnkey operation in a densely populated area with excellent access and visibility.

• CAP approach

  CAP return

  Valuation

  6%

  $3,089,576

  6.5%

  $2,851,916

  7%

  $2,648,208

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,565,234

  Geo Method

  $1,565,234

• Alternative Use

  Use

  Valuation

  Residential

  $2,851,916

  Hospitality

  $2,612,340

  Educational

  $2,173,436

  Medical

  $2,248,184

  Retail

  $3,380,900

Location Insight

City

Palos Hills

County

Cook

State

Illinois

Latitude

41.7063

Longitude

-87.8178

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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