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    18220 Harwood Ave Homewood, IL 60430

    For Sale
    $620,000

    10,800 SF Office & Apartment - Investment Opportunity

    Property size:
    10,800 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    316
    This exceptional 10,800-square-foot mixed-use building presents a compelling investment opportunity in the heart of vibrant Downtown Homewood, Illinois. The single-level property is currently occupied by multiple business tenants, generating consistent rental income, and includes a separate two-bedroom, one-bathroom residential apartment. This diverse tenant mix provides a stable and attractive return on investment. The building itself is exceptionally well-maintained and clean, reflecting pride of ownership. Its prime location offers unparalleled convenience, with immediate proximity to the Metra train station, providing easy access to Chicago and surrounding areas. Furthermore, the property enjoys a walkable location to a variety of amenities, including popular restaurants like Aurelio's Pizza and coffee shops such as Starbucks, along with all the other businesses and services Downtown Homewood offers. The strategic location also benefits from easy access to major highways, ensuring excellent connectivity for both tenants and owners. This property is ideal for owner-occupiers seeking a blend of income generation and personal workspace, or for investors looking for a strong, diversified income stream in a thriving downtown area. The building's current occupancy and desirable location make this a truly exceptional investment opportunity. The address is 18220 Harwood Avenue, Homewood, IL, and the asking price is $620,000.

    Property Features for 18220 Harwood Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    10,800 SF

    Building Details

    Year Built
    1975
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Christopher J. Seidel, ... Dentist Panio Law Offices Personal Injury Attorney The Spearman Firm, LLC Personal Injury Attorney South Suburban Housing ... Non-Profit Organization Midwestern CFC Charity

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Homewood
    County
    Cook
    State
    Illinois
    Longitude
    -87.66936
    Latitude
    41.55856

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    FAQs

    What type of property is this?
    Mixed-use property - 10,800 SF Office & Apartment - Investment Opportunity
    Where is this mixed-use property located?
    The property is located at 18220 Harwood Ave Homewood, IL.
    What is the asking price?
    The asking price for this property is $620,000.
    (708) 799-3600
    Request Owner's contact information
    18220 Harwood Ave Homewood, IL 60430
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    Homewood, IL 60430
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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
    18220 Harwood Ave Homewood, IL 60430
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