8847 Ogden AveBrookfield, IL 60513

Property Details for 8847 Ogden Ave

Year built

1920

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.11 AC

Property size (Sq ft)

4,482 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

18-03-221-010

APU

1803221010

Description

This meticulously maintained 4,482 sq ft brick building in Brookfield, IL, sits on a prominent corner of historic Route 66. Built in 1920, it boasts a blend of commercial and residential space. The ground floor features a 1,250 sq ft hair salon, fully remodeled in 2015 with new flooring, lighting, HVAC, and electrical. Currently leased until April 2025, with the tenant expressing interest in renewal. The upper level includes a two-bedroom residential apartment occupied by the owner, featuring a living room, dining room, kitchen with oak cabinets and laminate countertops, a full bath, and laundry room. Additional living space above the salon includes a living room, kitchenette, and a 3/4 bath. A 630 sq ft unfinished space above the garage offers expansion potential, accessible via an enclosed rear porch. An attached heated six-car garage with 220 electrical service provides further income potential. Recent upgrades include new windows (two years ago), storefront window upgrades (2023), and tuckpointing (two years ago). A large, unfinished basement offers ample storage. This property presents a unique investment opportunity with stable rental income and significant expansion possibilities. The owner's retirement and out-of-state relocation create a compelling opportunity for a new owner.

• CAP approach

  CAP return

  Valuation

  6%

  $1,672,954

  6.5%

  $1,544,265

  7%

  $1,433,960

• Comparable approach

  Method

  Valuation

  Relative Method

  $904,860

  Geo Method

  $904,860

• Alternative Use

  Use

  Valuation

  Residential

  $1,544,265

  Hospitality

  $1,414,538

  Educational

  $1,176,879

  Medical

  $1,217,354

  Retail

  $1,830,701

Location Insight

City

Brookfield

County

Cook

State

Illinois

Latitude

41.8163

Longitude

-87.8429

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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