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    10534 Michigan Ave Chicago, IL 60628

    Sponsored
    For Sale
    $1,116,000

    Established Auto Repair Shop, High Traffic Area

    Property size:
    15,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional opportunity presents a well-established auto repair shop in Chicago, IL, boasting a 49-year history of success. The 15,000 square foot building sits on a 41,714 square foot lot and includes three overhead doors, a paint booth, and ample parking for 50 vehicles. Some essential equipment is included in the sale, ensuring a smooth transition for the new owner. The property's prime location in Cook County, at 10534 S Michigan Ave, zip code 60628, ensures access to a diverse clientele and benefits from decades of established customer loyalty. The asking price is $1,116,000, translating to $783.33 per square foot. This single-story building offers significant potential for continued growth and profitability. Financial details are available upon request. This is a turnkey operation ready for a new owner to continue its legacy of automotive expertise. The property is zoned for retail use and is a single building on a large lot. The business has a proven track record and is well-positioned for continued success.

    Property Features for 10534 Michigan Ave

    General Information

    Property type
    Automotive properties
    Square Feet
    15,000 SF

    Building Details

    Buildings
    1
    Stories
    1

    HighLights

    • Established auto repair shop in Chicago, IL with a 49‑year history.
    • 15,000 SF building on a 41,714 SF lot, including three overhead doors and a paint booth.
    • Ample parking for 50 vehicles and some equipment included.
    • Prime Cook County location at 10534 S Michigan Ave, Chicago, IL 60628.
    • Asking price: $1,116,000 ($783.33/SF).
    • Zoned for retail use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.621559278436
    Latitude
    41.701964529061

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    FAQs

    What type of property is this?
    Automotive property - Established Auto Repair Shop, High Traffic Area
    Where is this automotive property located?
    The property is located at 10534 Michigan Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,116,000.
    What are key features of this property?
    This property features: Established auto repair shop in Chicago, IL with a 49-year history.; 15,000 SF building on a 41,714 SF lot, including three overhead doors and a paint booth.; Ample parking for 50 vehicles and some equipment included.
    Request Owner's contact information
    10534 Michigan Ave Chicago, IL 60628
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    Chicago, IL 60628
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    10534 Michigan Ave Chicago, IL 60628
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