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    624 W Roosevelt Rd Chicago, IL 60605

    For Sale
    $3,830,000

    Two properties with retail and office space in downtown Chicago.

    Property size:
    10,632 SF
    Lot size:
    0.13 Acres

    Property Features for 624 W Roosevelt Rd

    General Information

    Size
    10,632 SF
    Lot size
    0.13 Acres

    Source: Bradford Allen - Corporate Agent Craig Nadborne

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

    Overview

    Renovated Mixed-Use Building For Sale

    The offering includes two properties: 622 W Roosevelt, featuring 10,632 square feet with 52.75% occupancy, and 632 W. Roosevelt, offering 6,600 square feet with 100% occupancy. The building at 622 W Roosevelt, built in 1904 and situated on 0.13 acres, has undergone a complete renovation, including a new elevator, upgraded HVAC systems, widened stairwells, high ceilings, new in-suite bathrooms, a new elevator lobby, and new interior and exterior doors. The first and lower floors are leased to a national dispensary. The property at 632 W. Roosevelt, built in 1964 and situated on 0.19 acres, is fully leased to a national non-profit. Windows were replaced in 2022. Both properties feature on-site parking behind the building and are located in the DS-3 Downtown Service District enterprise zone, with no transfer tax upon sale. The location is ideal for retail or service-oriented businesses seeking a vibrant urban environment, situated 100 feet from the Dan Ryan Expressway (I-90/94), with 70 feet of frontage on Roosevelt Road and 94 feet on Des Plaines Street. Roosevelt Road sees over 32,000 vehicles per day.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    AIBI Production Center Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6431895
    Latitude
    41.8675304

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    FAQs

    What type of property is this?
    Office building - Two properties with retail and office space in downtown Chicago.
    Where is this office building located?
    The property is located at 624 W Roosevelt Rd Chicago, IL.
    What is the asking price?
    The asking price for this property is $3,830,000.
    What are key features of this property?
    This property features: - High-traffic location on Roosevelt Road with excellent visibility near the Dan Ryan Expressway.; - Significant recent renovations including a new elevator and upgraded HVAC.; - Stable income from existing tenants, with high occupancy rates.
    (773) 454-0159
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    624 W Roosevelt Rd Chicago, IL 60605
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    Chicago, IL 60605
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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
    624 W Roosevelt Rd Chicago, IL 60605
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