Mixed-Use Property with Income
8714 S COMMERCIAL Avenue, Chicago, IL 60617
COMMERCIAL - Chicago, IL
Property size:
1,100 SFLot size:
0.08 AcresPrice / SF:
$454/SF- Added:
- Mar 10, 2026
- Days on Market:
- 68
- Last Refresh:
- May 16 at 12:06 am
Property Features for 8714 S COMMERCIAL Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- 26062020210000
- Size
- 1,100 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 7664
Building Details
- Year built
- 1899
- Floors in Building
- 3
- Number of units
- 6
- Building materials
- Brick, Stone
- Roof type
- Tar/Gravel, Rubber
Listing agent Anthony Hardy License #475139834 (312) 216-2422
Listing office Keller Williams ONEChicago 2211 N Elston Ave STE 400, Chicago, IL (312) 216-2422
Listing date Mar 10, 2026
MLS# 12587967
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Immediate income potential from leasing two move‑in‑ready apartments and the retail storefront.
- Value‑add opportunity with a clear path to stabilization through phased unit completion.
- Defined and finite renovation scope with manageable completion costs for remaining units.
- Mixed‑income profile (residential and retail) diversifies cash flow upon stabilization.
- Potential to capture a significant spread between the as‑is price and stabilized value.
- Move‑in ready 1,100 SF retail storefront.
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 from neighborhood retail and workforce housing. 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 90% rehabilitated needing paint and kitchen appliances (estimated $8,000 to complete), and two 3BR/1BA units requiring drywall, kitchen cabinetry, and appliances (estimated $35,000 per unit to complete). The retail storefront is move-in ready, allowing for immediate marketing and lease-up. The recommended approach is to lease the two ready residential units and the retail storefront promptly to establish operating momentum and reduce risk. This income stream can support the completion of the nearly finished 2BR unit while planning the remaining 3BR unit finishes. This phased approach allows for asset stabilization without requiring full upfront capital deployment. The property is suited for investors seeking near-term income, controlled renovation exposure through phased deployment, and value appreciation through execution and management. The property is located on a lot of 0.0803 acres.
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.; Value‑add opportunity with a clear path to stabilization through phased unit completion.; Defined and finite renovation scope with manageable completion costs for remaining units.
