8714 S Commercial Ave Chicago, IL 60617

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.