$ 525,000
414 E 71st ST Chicago, IL 60619
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$ 525,000
Est. payment | /mo
4,800 SqFt
$ 525,000
Est. payment | /mo
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
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Mikus Kins • Be Realty, LLC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "