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3229 Commercial Ave South Chicago Heights, IL 60411

For Sale
$775,000

Commercial Sale - South Chicago Heights, IL

Days on Market:
35
Last Refresh:
Dec 14 at 3:06 pm

Property Features for 3229 Commercial Ave

General Information

Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Zoning
MULTI
APN
32322150190000

Building Details

Year built
1969
Number of units
7
Architectural style
Other

Honig Realty, Inc. (dba. Coldwell Banker Honig-Bell) (815) 553-2406 [email protected]

Listing agent Charles Kirkwood (815) 553-2406 License #475142955

Listing date Nov 10, 2025

MLS# 12513857 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

Fully Leased Investment Opportunity

This fully leased seven-unit building in South Chicago Heights, Illinois, presents an investment opportunity. The property operates above an 8 cap rate at the list price. All apartments feature a two-bedroom layout with a spacious family room. Basement amenities include coin-operated laundry and storage. Recent updates include new windows, appliances, exterior lighting, and an updated fire safety system. New 10-year smoke and CO detectors have been installed. One apartment has been updated with quartz countertops, new appliances, and bathroom fixtures and was immediately rented. The property has a low to no vacancy history. The location provides convenient access to restaurants, national retailers, and a Jewel grocery store, all within walking distance. On-site parking includes seven spaces, supplemented by unrestricted on-street parking. The property offers value-add potential through rent increases to market value. The building is suitable for residential income and multifamily use.
Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

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

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

Location Insight

  • Map
  • Local Demand
City
South Chicago Heights
County
Cook
State
Illinois
Longitude
-87.6360113
Latitude
41.4798177

FAQs

What type of property is this?
Apartment building - Seven-unit building with value-add potential in South Chicago Heights.
Where is this apartment building located?
The property is located at 3229 Commercial Ave South Chicago Heights, IL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: - Fully leased 7-unit building offering immediate income.; - Over 8% capitalization rate at the list price.; - Significant value-add potential through rent increases to market rates.
More about this property
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