1007 31St StLa Grange Park, IL 60526

Property Details for 1007 31St St

Year built

1952

Lot size

0.29 AC

Property type

Office properties

APN

15-28-429-032-1001

APU

15284290321001

Description

This exceptional 1,169 square foot commercial condo unit, located at 1007 E. 31st Street in the vibrant Village of LaGrange Park, presents a fantastic opportunity for owner-occupancy or investment. Boasting a prime corner location with excellent 31st Street retail exposure, this single-tenant space features numerous recent upgrades, including a brand-new roof, representing over $26,000 in owner investment. The unit itself is a well-designed space, offering three individual office suites, a reception area, a conference room, and a full bathroom. The 10-foot ceilings provide a spacious feel. The building is a masonry construction, a four-unit commercial condominium complex with twelve unassigned asphalt parking spaces, including handicapped-accessible spots, plus additional off-street parking. A highly desirable location, this property benefits from a strong association, with monthly fees of $180 covering scavenger service, water, common area maintenance, cable, and parking lot maintenance. The property enjoys a strategic position near key community anchors such as the LaGrange YMCA, LaGrange Park Ace Hardware, and the LaGrange Park Fire Department, ensuring high visibility and foot traffic. This is a turnkey opportunity in a thriving community. The property is available for both sale and lease.

• CAP approach

  CAP return

  Valuation

  6%

  $3,762,706

  6.5%

  $3,473,268

  7%

  $3,225,177

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,628,125

  Geo Method

  $1,628,125

• Alternative Use

  Use

  Valuation

  Residential

  $4,306,852

  Hospitality

  $3,945,053

  Educational

  $3,282,238

  Medical

  $3,395,119

  Retail

  $5,105,704

Location Insight

City

La Grange Park

County

Cook

State

Illinois

Latitude

41.8348

Longitude

-87.8636

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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