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    1012 S Western Ave Chicago, IL 60612

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    For Sale
    $1,200,000

    Mixed-use property with storefronts, residential units, and garages.

    Property Features for 1012 S Western Ave

    General Information

    Standard status
    Active

    Building Details

    Year built
    1881

    Source: ART OF REAL ESTATE LLC Agent MICHAEL RAMSTEDT

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    High-Exposure Mixed-Use Property For Sale

    This mixed-use property, available for sale for the first time in 47 years, features a double storefront, four residential units, and two oversized two-car garages with high ceilings. It is located at a high-exposure T-intersection in the UIC West Campus "Tri-Taylor" neighborhood, with Roosevelt Road to the south and I-290 to the north. The Illinois Medical District and Rush, UIC, Cook County, and West Side VA hospitals are within walking distance to the east. The storefronts and one of the residential units have been recently remodeled. The remaining three residential units are occupied by long-term tenants with below-market rents. The property includes a standing-height double basement suitable for storage or other uses. The gross income reflects assumed market rent for the storefronts, which are currently vacant for an owner/operator but can be rented out for a straight investor. The gross income of $8500/month is approximately $1500+ under market rent, and the building could potentially generate $10,000+/month in rents. The property is in a rapidly developing neighborhood with new construction.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    BoeufHaus Steak House

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Nail Salon Dental Office Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6873361
    Latitude
    41.8998385

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with storefronts, residential units, and garages.
    Where is this mixed-use property located?
    The property is located at 1012 S Western Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: - High-exposure double storefront with 4 residential units and two 2-car garages in the rapidly developing Tri-Taylor neighborhood near UIC West Campus.; - Potential for high rental income: Currently generating $8,500/month, with potential to exceed $10,000/month at market rents.; - Prime location: Walking distance to the Illinois Medical District and major hospitals, with easy access to Roosevelt Rd and I-290.
    (312) 952-2894
    Request Owner's contact information
    1012 S Western Ave Chicago, IL 60612
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    Chicago, IL 60612
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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
    1012 S Western Ave Chicago, IL 60612
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