Mixed-Use Property with Income
8714 S COMMERCIAL Avenue, Chicago, IL 60617
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Mixed-use property with retail and residential units, value-add opportunity.
Type:Mixed Use
Property size:
1,100 SFPrice / SF:
$454/SF- Added:
- Mar 9, 2026
- Days on Market:
- 69
- Last Refresh:
- Mar 19 at 10:38 pm
Property Features for 8714 S COMMERCIAL Avenue
General Information
- Standard status
- Active
- Size
- 1,100 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1899
Listing agent Tony Hardy License #IL 475.139834
Listing office KW Commercial Chicago - Lincoln Park (312) 863-8990
Listing date Mar 9, 2026
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial Chicago - Lincoln Park
HighLights
- Immediate income potential from leasing two move‑in‑ready apartments and the retail storefront.
- Clear path to stabilization through defined and finite renovation scope.
- Value‑add opportunity to increase property value by completing renovations on remaining units.
- Mixed‑use property with both residential and retail components for diversified income streams.
- Phased renovation approach allows for controlled capital deployment and measurable milestones.
- One 2BR/1BA unit is nearly finished, requiring minimal investment for completion (approximately $8,000).
Overview
Located in Chicago's 60617 trade area, this mixed-use property at 8714 S. Commercial Ave presents a value-add opportunity with immediate income potential. The property features a 1,100 SF street-level retail storefront and five residential apartments, offering a balanced income profile. The investment strategy involves generating immediate revenue by leasing the move-in-ready units and storefront, followed by completing the remaining residential renovations to unlock full stabilized value. The residential component includes two move-in-ready 2BR/1BA units, one 2BR/1BA unit that is approximately 90% rehabilitated, and two 3BR/1BA units requiring completion. The near-finished 2BR/1BA unit requires paint and kitchen appliances, with an estimated $8,000 to complete. The two 3BR/1BA units require drywall, kitchen cabinetry, and appliances, with estimated completion costs of approximately $35,000 per unit. The retail storefront is move-in ready. The recommended strategy involves leasing the two ready residential units and the retail storefront to create immediate operating momentum. This income stream can support the completion of the nearly finished 2BR unit while planning the remaining 3BR unit finishes. This phased approach enables a buyer to stabilize the asset without requiring all capital to be deployed upfront prior to generating revenue. The property is suited for local and regional investors seeking to establish near-term income, control renovation exposure through phased deployment, and capture a meaningful spread between as-is basis and stabilized value.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Storefront properties
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.5518274
- Latitude
- 41.7368704
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with retail and residential units, value-add opportunity.
Where is this mixed-use property located?
The property is located at 8714 S COMMERCIAL Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Immediate income potential from leasing two move‑in‑ready apartments and the retail storefront.; Clear path to stabilization through defined and finite renovation scope.; Value‑add opportunity to increase property value by completing renovations on remaining units.
