Chicago, IL 60619,414 E 71st ST
Chicago, IL 60619,414 E 71st ST
Chicago, IL 60619,414 E 71st ST
Chicago, IL 60619,414 E 71st ST
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$ 525,000
Est. payment | /mo

4,800 SqFt


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$ 525,000
Est. payment | /mo
Save

4,800 SqFt

Key Details

Property Type Commercial

Sub Type Retail/Stores

Listing Status Active

Purchase Type For Sale

Square Footage 4,800 sqft

Price per Sqft $109

MLS Listing ID 12002638

Year Built 1915

Annual Tax Amount $13,032

Tax Year 2023

Lot Dimensions 148X40

Property Description

Incredible cash flowing strip center that is already producing a 12.5% Cap Rate. This is a prime three unit commercial corner property successfully run as a neighborhood street level retail center with longtime laundromat, nail salon and beauty supply tenants. Two tenants just executed three-year leases with 4% annual escalation while the third just signed a five-year lease with 3% annual escalations. Tenants pay for all utilities. This 100% occupied 4,800 SF freestanding three-unit building has 148 ft 71st Street frontage. Located in the Park Manor area of the Greater Grand Crossing community 9 miles south of the Loop. Easy access to the Eden's Expressway and The Skyway. Nearby intersection has 25,000+ VPD. Zoned B3-1 - Community Shopping District. Located in the 67th/Wentworth TIF District. The district is intended to foster new residential, commercial, and mixed-use development investment opportunities. Other grant options are possible, such as the Neighborhood Opportunity Fund and the R3 Grant.

Location

State IL

County Cook

Area Chi - Greater Grand Crossing

Zoning COMMR

Interior

Cooling Central Air

Fireplace N

Building

Dwelling Type Retail/Stores

Level or Stories 1

Midwest Real Estate Data (MRED) IDX
Listed by Mikus Kins • Be Realty, LLC

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Sarah Leonard

Broker | Owner

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414 E 71st ST