$657,500
$699,000
5.9%For more information regarding the value of a property, please contact us for a free consultation.
7,671 SqFt
SOLD DATE : 12/10/2018
Key Details
Sold Price $657,500
Property Type Commercial
Sub Type Retail/Stores
Listing Status Sold
Purchase Type For Sale
Square Footage 7,671 sqft
Price per Sqft $85
MLS Listing ID 09994717
Sold Date 12/10/18
Year Built 2006
Annual Tax Amount $24,540
Tax Year 2017
Lot Dimensions 109 X 125
Property Sub-Type Retail/Stores
Property Description
Newer 7,671 sf retail center on a 13,750 sf site. This is a value-add opportunity with 46% of the center currently vacant. 65th & Western is a signaled corner, and the property is across the street from a McDonald's restaurant. This is a densely populated area with great visibility and heavy traffic at this location. There are a variety of businesses along Western Ave which include: auto dealerships, retail, mixed use and service type businesses. Major retailers the area include Dollar General, Auto Zone, Advance Auto Parts , McDonald's, Wendy's, and Dunkin Donuts. Existing Tenants include: Acceptance Insurance (1,200 sf) and Western Meat & Groceries (2,868 sf). The larger vacant space of 3,590 is built out as a professional office with 3 bathrooms, break room 3 private offices and a lobby that can accommodate 10-12 cubicle spaces. Potential NOI for this property will approach $80,000 with new tenants. Current asking price for the vacant space is $12/SF NNN.
Location
State IL
County Cook
Area Chi - Chicago Lawn
Zoning COMMR
Interior
Cooling Central Air
Flooring Carpet, Concrete, Tile
Fireplace N
Exterior
Utilities Available Electric to Site, Gas to Site
Roof Type Membrane
Building
Level or Stories 1
Structure Type Brick
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