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    1942 Elmwood Ave Berwyn, IL 60402

    Sponsored
    For Sale
    $689,000

    Prime Berwyn location, updated 5-unit building.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    339
    This exceptional 5-unit brick building, located at 1942 Elmwood Avenue in Berwyn, Illinois, presents a lucrative investment opportunity. Situated on a 0.08-acre lot, this property boasts a recent array of significant improvements, ensuring both immediate and long-term value. A brand-new roof, complete with a warranty, and newly installed parapet walls provide lasting protection. The property also benefits from a recently replaced sewer line and water service, eliminating potential future expenses. A new hot water tank and expansion tank further enhance efficiency and reliability. Several units feature newer appliances, adding to the overall appeal for tenants. The building retains its original woodwork and trim, adding to its character and charm. The basement offers added functionality with a dedicated bathroom and office space, providing extra versatility. A convenient laundry room and coin-operated laundry facilities cater to tenant needs. This well-maintained property is ready for immediate occupancy and promises strong rental income. The combination of recent upgrades, desirable location, and attractive features makes this a truly exceptional investment opportunity in the sought-after Berwyn market. Don't miss this chance to acquire a high-quality, income-generating property. The asking price is $689,000.

    Property Features for 1942 Elmwood Ave

    General Information

    Property type
    Other commercial real estate
    Lot Size
    3,485 SF

    Building Details

    Year Built
    1924
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Berwyn
    County
    Cook
    State
    Illinois
    Longitude
    -87.78521
    Latitude
    41.85264

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Berwyn location, updated 5-unit building.
    Where is this commercial real estate located?
    The property is located at 1942 Elmwood Ave Berwyn, IL.
    What is the asking price?
    The asking price for this property is $689,000.
    (708) 450-0110
    Request Owner's contact information
    1942 Elmwood Ave Berwyn, IL 60402
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    Berwyn, IL 60402
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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
    1942 Elmwood Ave Berwyn, IL 60402
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