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    2824 W Cermak Rd Chicago, IL 60623

    For Sale
    $699,000

    Commercial Sale - Chicago, IL

    Days on Market:
    151
    Last Refresh:
    Dec 12 at 9:06 pm

    Property Features for 2824 W Cermak Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MULTI
    APN
    16243150290000

    Building Details

    Year built
    1891
    Number of units
    6
    Architectural style
    Other

    Compass Real Estate

    Listing agent Nigel Gillett (312) 733-7201 License #475146413

    Listing date Jul 15, 2025

    MLS# 12398220 Listing URL

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    West Pilsen Multifamily Investment Opportunity

    This well-maintained 6-unit residential property is located in the West Pilsen/Little Village neighborhood. The property is situated one block from the CTA Pink Line and steps from the Cermak/California bus stop, providing access to public transportation. The building features three secure off-street parking spaces at the rear. Its central location offers proximity to shopping, dining, and major commuter routes. The property has solid financials, tenant retention, and potential for increased revenue, presenting a multifamily asset in Chicago. The intended use of the property is residential income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Prince Grocery Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6965105
    Latitude
    41.8521625

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained 6-unit building near public transit with upside potential.
    Where is this apartment building located?
    The property is located at 2824 W Cermak Rd Chicago, IL.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: - Prime location in vibrant West Pilsen/Little Village neighborhood.; - Excellent public transportation access with CTA Pink Line and Cermak/California bus.; - Three secure off-street parking spaces.
    (312) 733-7201
    Request Owner's contact information
    2824 W Cermak Rd Chicago, IL 60623
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    Chicago, IL 60623
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2824 W Cermak Rd Chicago, IL 60623
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