Corridor Motel with
7621 S Cottage Grove Avenue Chicago, IL 60619
7621 S Cottage Grove Avenue, Chicago, IL, 60619
$2,300,000
For Sale
$2,300,000
1974-built 34-room motel with a separate front restaurant building and main-level parking.
Property Size18,000 SF
Lot Size0.31 Acres
Price / SF$127.78
Days on Market187
Property Features for 7621 S Cottage Grove Avenue
General Information
- Standard status
- Active
- Size
- 18,000 SF
- Lot size
- 0.31 Acres
- Property subtype
- Business Opportunity
Listing agency
Century 21 Circle
(773) 465-4200
Listed by
Mark Ahmad · License #471007186
(773) 465-4200
Source
Birdrealtysells
Added: Jan 16 Updated: Jul 21 at 7:23PM Checked: Jul 22 at 6:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Circle
Investment Insights
Based on property information with market context.
This 3-story California-style exterior corridor motel was built in 1974 and contains 34 rooms. The property also includes a separate restaurant building positioned at the front of the site, with main-level parking serving the motel.
The asset is located in the well-established Chatham neighborhood on Chicago’s South Side. The property sits within the Greater Chatham Initiative and the 87th Street Corridor Improvement Zone, and it is described as being within walking distance to retail, services, and neighborhood amenities.
The listing notes strong traffic counts and proximity to major area destinations, including approximately 1 mile east of the Dan Ryan Expressway and about 3 miles from the Obama Presidential Library. The motel is identified as a non-franchise motel license.
The asset is located in the well-established Chatham neighborhood on Chicago’s South Side. The property sits within the Greater Chatham Initiative and the 87th Street Corridor Improvement Zone, and it is described as being within walking distance to retail, services, and neighborhood amenities.
The listing notes strong traffic counts and proximity to major area destinations, including approximately 1 mile east of the Dan Ryan Expressway and about 3 miles from the Obama Presidential Library. The motel is identified as a non-franchise motel license.
Key Highlights
- 1974‑built 3‑story California‑style motel with 34 rooms
- Separate restaurant building positioned at the front of the property
- Main‑level parking and 18,000 SF total building size on a 13,392 SF lot
Local Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $324.0k | $18.00 |
| − Vacancy | −$38.9k | −$2.16 |
| EGI | $285.1k | $15.84 |
| − OpEx | −$149.7k | −$8.32 |
| NOI | $135.4k | $7.52 |
18,000 SF · lease $18.00/SF/yr · vacancy 12.00% · expense 52.50%
Alternative Uses
Best Use
Specialty Retail
$4.79M
$4.19M – $5.58M
NOI $335,016 @ 7.0% cap · market cap 14.57%
Second Best
Hotel Hospitality
$1.93M
$1.69M – $2.26M
NOI $135,432 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$8.49M
$7.43M – $9.90M
NOI $594,086 @ 7.0% cap · market cap 25.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Empire Motel
Hotel & Motel
Barbara Ann's Motel
Hotel & Motel
Similar For Sale Nearby
Similar Off Market Nearby
- The Woodlawn — 1200 E 79th St, Chicago, IL 60619
- Empire Motel — 7621 S Cottage Grove Ave, Chicago, IL 60619
- Barbara Ann's Motel — 7621 S Cottage Grove Ave, Chicago, IL 60619
- East of the Ryan — 914 E 79th St, Chicago, IL 60619
- Mommie-o — 8222 s calumet ave, chicago, il 60619
FAQs
What type of property is this?
Motel - 1974-built 34-room motel with a separate front restaurant building and main-level parking.
Where is this motel located?
The property is located at 7621 S Cottage Grove Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 1974‑built 3‑story California‑style motel with 34 rooms; Separate restaurant building positioned at the front of the property; Main‑level parking and 18,000 SF total building size on a 13,392 SF lot
