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8714 S Commercial Ave Chicago, IL 60617

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For Sale
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Mixed-use property with retail and residential units, value-add opportunity.

Lot size:
3,500.00 Acres

Property Features for 8714 S Commercial Ave

General Information

Standard status
Active
Lot size
3,500.00 Acres

Building Details

Year built
1899

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Listing Contact
Tony Hardy
Tony Hardy
Source: Crexi

Listing Agency: KW Commercial Chicago - Lincoln Park Listing Agent: Tony Hardy

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

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Overview

Mixed-Use Property with Income Potential

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.
Location Intelligence

Current Use by Public Records

Storefront properties

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

Location Insight

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  • Local Demand
City
Chicago
County
Cook
State
Illinois
Longitude
-87.5518274
Latitude
41.7368704

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 Ave Chicago, IL.
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.
More about this property
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