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    1455 103Rd St Chicago, IL 60643

    Sponsored
    For Sale
    $1,475,000

    Chicago Mixed-Use, Value-Add Opportunity

    Property size:
    10,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Exceptional mixed-use investment opportunity in Chicago's East Beverly neighborhood. This 10,000 square foot property, situated on a substantial 29,246 square foot lot, features a 12-unit building (six retail storefronts and six residential apartments) built in 1904. The property boasts 100% occupancy, generating a current NOI of $116,107 and a 7.87% cap rate. A pro-forma analysis projects a NOI of $141,547 and a 9.60% cap rate, reflecting significant upside potential through rent increases and value-add improvements. The property includes 13 parking spaces and a large rear area currently used as a tenant gathering space. Recent improvements include central HVAC upgrades (early 2000s) and roof resealing (within the last 5 years). The B1-3 zoning permits various expansion options, including additional units, storage, or covered parking, leveraging the substantial underutilized lot space. The asking price is $1,475,000 ($147.50/sq ft and $122,916.67 per unit). This property presents a compelling opportunity for investors seeking strong cash flow and significant value-add potential in a vibrant Chicago neighborhood. The APN is 25-17-101-007-0000: 25-17-101-006-0000:25-17-101-025-0000:25-17-101-014-0000.

    Property Features for 1455 103Rd St

    General Information

    Property type
    Individual retail properties
    Square Feet
    10,000 SF

    Building Details

    Year Built
    1904
    Units
    12

    HighLights

    • Exceptional mixed‑use investment opportunity in Chicago's East Beverly neighborhood. 10,000 SF building on a 29,246 SF lot, featuring six retail units and six apartments. Currently 100% occupied.
    • 7.87% cap rate with a projected 9.60% cap rate after value‑add improvements. NOI of $116,107, projected to increase to $141,547.
    • Below‑market rents offer significant upside potential through rent increases and property improvements.
    • 13 parking spaces and a large rear area suitable for repurposing as additional parking or storage.
    • Large lot (nearly half an acre) allows for expansion opportunities, including additional units or parking, subject to B1‑3 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Headquarters Barber Shop Barber Shop A Wink in Ameerah Salon Hair Salon

    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
    -87.659206872546
    Latitude
    41.706725997984

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    FAQs

    What type of property is this?
    Individual retail property - Chicago Mixed-Use, Value-Add Opportunity
    Where is this individual retail property located?
    The property is located at 1455 103Rd St Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,475,000.
    What are key features of this property?
    This property features: Exceptional mixed-use investment opportunity in Chicago's East Beverly neighborhood. 10,000 SF building on a 29,246 SF lot, featuring six retail units and six apartments. Currently 100% occupied.; 7.87% cap rate with a projected 9.60% cap rate after value-add improvements. NOI of $116,107, projected to increase to $141,547.; Below-market rents offer significant upside potential through rent increases and property improvements.
    Request Owner's contact information
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    Chicago, IL 60643
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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
    1455 103Rd St Chicago, IL 60643
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