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    7201 63 St Summit, IL 60501

    Sponsored
    For Sale
    $2,000,000

    High-traffic corner, 4 leased units, expansion potential.

    Property size:
    4,550 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional investment opportunity presents a 4,550 square foot retail strip center ideally situated on a hard corner at the intersection of 63rd Street and Harlem Avenue in Summit, Illinois. The property boasts four fully leased retail spaces with long-term leases in place, generating consistent rental income. The current tenants benefit from a large, highly visible corner sign, ensuring maximum exposure to the substantial vehicular traffic characteristic of this densely populated area. The strategic location offers convenient access from both Harlem Avenue and 63rd Street, placing the center in close proximity to SeatGeek Stadium and the numerous amenities of Harlem Avenue. A significant advantage of this property lies in the inclusion of twelve additional vacant lots, providing substantial potential for expansion. These lots offer flexibility for various development options, including increasing parking capacity, constructing additional retail or office space, or further expanding the existing retail center. Financial details and further information are available upon request. This property represents a rare chance to acquire a well-established, income-producing retail center with significant upside potential in a prime location.

    Property Features for 7201 63 St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    4,550 SF

    Building Details

    Year Built
    1970
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Summit
    County
    Cook
    State
    Illinois
    Longitude
    -87.80109
    Latitude
    41.77715

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    FAQs

    What type of property is this?
    Commercial real estate - High-traffic corner, 4 leased units, expansion potential.
    Where is this commercial real estate located?
    The property is located at 7201 63 St Summit, IL.
    What is the asking price?
    The asking price for this property is $2,000,000.
    (312) 506-0200
    Request Owner's contact information
    7201 63 St Summit, IL 60501
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    Summit, IL 60501
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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
    7201 63 St Summit, IL 60501
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