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    8235 South Shore Dr Chicago, IL 60617

    View on Map
    Sponsored
    For Sale
    $1,000,000

    COMMERCIAL - Chicago, IL

    Lot size:
    0.79 Acres
    Days on Market:
    7
    Last Refresh:
    Mar 18 at 4:06 am

    Property Features for 8235 South Shore Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MULTI
    APN
    21312330260000
    Lot size
    0.79 Acres

    Utilities

    Cooling system
    Zoned

    Building Details

    Floors in Building
    3
    Number of units
    5

    We can help!

    Listing Contact
    Brittany Ramsey

    Keller Williams Chicago ONEChicago (312) 216-2422

    Listing agent Brittany Ramsey (313) 303-2483

    Listing date Mar 12, 2026

    MLS# 12481511

    Copyright © 2026 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.

    Learn more

    Overview

    South Shore Development Portfolio Opportunity

    This institutional portfolio, formerly the St. Michael Catholic School Campus, presents a strategic investment opportunity in Chicago's South Shore. The portfolio comprises six distinct properties on separate PINs, offering a mixed-use investment platform within the area's emerging tech corridor. Key components include a multi-story primary academic facility with classroom infrastructure, a historic church with architectural distinction, a multi-story convent building with residential conversion potential, a single-story educational annex with flexible programming space, an income-generating 2-unit residential property with a retail storefront, and a single-family residence suitable for immediate occupancy or rental income. The RS-3 zoning allows for residential, community, civic, and commercial uses, providing development flexibility. Institutional-grade construction standards are evident throughout, including commercial kitchen facilities, multi-stall restrooms, basement prep areas, and a recreational hall designed for high-capacity utilization. The location is near Lake Michigan with established neighborhood infrastructure. The portfolio is situated minutes from a major data center development, positioning it at the epicenter of South Shore's technological transformation. The existing rental income from the 2-unit property provides immediate cash flow during development phases. The 0.7909-acre site also offers additional parking development opportunities via adjacent S. South Shore Drive properties. Potential development scenarios include multi-unit residential conversion, mixed-use commercial spaces, and adaptive reuse opportunities for creative offices, co-working spaces, event venues, or specialized commercial applications.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.5474856
    Latitude
    41.7454798

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    FAQs

    What type of property is this?
    Mixed-use property - Rare mixed-use portfolio near emerging tech corridor in South Shore.
    Where is this mixed-use property located?
    The property is located at 8235 South Shore Dr Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: - Strategic Location: Positioned in South Shore's emerging tech corridor, minutes from major data center development.; - Zoning Flexibility: RS-3 zoning allows for diverse development scenarios including residential, community, civic, and commercial uses.; - Existing income-generating 2-unit residential with retail storefront provides immediate cash flow.
    (313) 303-2483
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    8235 South Shore Dr Chicago, IL 60617
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    Chicago, IL 60617
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    8235 South Shore Dr Chicago, IL 60617
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    We can help!
    Listing Contact
    Brittany Ramsey
    Real Estate License ID: 475173381
    (313) 303-2483 (312) 216-2422
    Learn more
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