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    5705 N Elston Ave Chicago, IL 60646

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    For Sale
    $1,200,000

    14,705 SF redevelopment site on busy corner.

    Property size:
    14,705 SF
    Lot size:
    0.32 Acres

    Property Features for 5705 N Elston Ave

    General Information

    Size
    14,705 SF
    Lot size
    0.32 Acres

    Source: Millennium Properties Real Estate Agent Daniel J. Hyman

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

    Overview

    Redevelopment Site on Elston Avenue

    This 14,705 square foot redevelopment site is located at the busy corner of Central and Elston Avenues. Currently, the property is used as a muffler and auto-repair shop, with outdoor storage and retail space. It is leased for $4,592 per month on a month-to-month basis. The site features 150 feet of frontage on both Elston and Central Avenues. With a B3-1 zoning, the property offers the potential to develop a mixed-use building with retail and apartments, or a multi-tenant commercial building. The location in Jefferson Park benefits from a traffic count of 21,288 vehicles daily. This property presents an opportunity for investors or developers.
    Location Intelligence

    Current Use by Public Records

    Velasquez & Sons Mufflers ... Muffler Shop

    Suggested Use

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

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

    Similar Places Nearby

    Little Al's Motorcycle Repair, Firestone Complete Auto Care, C & A Auto Body, Subaru mechanic, Bridgestone

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7685711
    Latitude
    41.9854335

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    FAQs

    What type of property is this?
    Auto shop - 14,705 SF redevelopment site on busy corner.
    Where is this auto shop located?
    The property is located at 5705 N Elston 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: - 14,705 sf redevelopment site on a busy corner; - 150’ of frontage on both Elston and Central Avenues; - Potential to develop mixed-use (retail/apartments) or multi-tenant commercial building
    (312) 338-3000
    Request Owner's contact information
    5705 N Elston Ave Chicago, IL 60646
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    Chicago, IL 60646
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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
    5705 N Elston Ave Chicago, IL 60646
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