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    7525-7527 Wolcott Ave Chicago, IL 60626

    Sponsored
    For Sale
    $1,499,000

    Established Car Wash, Huge Potential

    Property size:
    15,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 15,000 sq ft. car wash facility, located at 7525-7527 N Wolcott Avenue in Chicago's Rogers Park neighborhood, is offered for sale at $1,499,000. Situated on a 16,000 sq ft. lot, this property boasts a 2,500 sq ft. mezzanine level perfect for storage and office space. Currently operating as a repair and body shop for over a decade, this versatile property holds two city business licenses for mechanical and body shop services. The extensive equipment includes seven lifts, an in-ground dynamometer, a paint booth, an oil waste tank, and exhaust fans compliant with all codes. The building features five ceiling-mounted heating units and a recently updated roof (L-shaped section in 2017, smaller section in 2022). Its prime location offers easy access to Evanston, Lake Shore Drive, and Sheridan Beach. The property's zoning allows for diverse redevelopment opportunities, including conversion to a gym, warehouse, distribution center, storage facility, or condominium development. Annual real estate taxes for 2023 were $27,500. This is a rare opportunity to acquire a well-established business with significant upside potential in a desirable location. The business operates Monday through Friday.

    Property Features for 7525-7527 Wolcott Ave

    General Information

    Property type
    Automotive properties
    Square Feet
    15,000 SF

    HighLights

    • $1,499,000 asking price for this special purpose property.
    • 15,000 square foot building on a 16,000 square foot lot in Chicago, IL.
    • Currently operating as a repair/body shop, includes all equipment (7 lifts, paint booth, dynamometer, etc.).
    • Features a 2,500 square foot mezzanine for storage and office space.
    • Excellent redevelopment potential: gym, warehouse, condos, or other uses.
    • Located in Rogers Park, near Evanston, Lake Shore Drive, and Sheridan Beach.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -87.6771755
    Latitude
    42.0185631

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    FAQs

    What type of property is this?
    Automotive property - Established Car Wash, Huge Potential
    Where is this automotive property located?
    The property is located at 7525-7527 Wolcott Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,499,000.
    What are key features of this property?
    This property features: $1,499,000 asking price for this special purpose property.; 15,000 square foot building on a 16,000 square foot lot in Chicago, IL.; Currently operating as a repair/body shop, includes all equipment (7 lifts, paint booth, dynamometer, etc.).
    Request Owner's contact information
    7525-7527 Wolcott Ave Chicago, IL 60626
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    Chicago, IL 60626
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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

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    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
    7525-7527 Wolcott Ave Chicago, IL 60626
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