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    700 47Th St Chicago, IL 60653

    Sponsored
    For Sale
    $650,000

    Thriving Chicago retail strip, 100% occupied.

    Property size:
    3,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 3,600 square foot retail strip center, built in 2004, is ideally situated on a high-traffic stretch of 47th Street in Chicago's vibrant Bronzeville neighborhood. Currently 100% occupied with a mix of established tenants including a hair salon, taqueria, and hair care business, this property offers a strong, stable income stream. The center boasts ample parking, a prominent street presence, and convenient access to public transportation. Located within a bustling commercial district, the property benefits from high daily traffic counts of 11,240 vehicles, and proximity to national retailers like McDonald's, Dollar Tree, and Family Dollar. The single-story building sits on an 11,979 square foot lot, zoned B1-1, and features a desirable storefront configuration perfect for a variety of retail uses. The asking price is $650,000, representing a price per square foot of $180.56, and a land value of $54 per square foot. 2023 property taxes totaled $29,724.74. This presents a compelling opportunity for both investors seeking a stable return and owner-users looking for a prime location in a rapidly growing area.

    Property Features for 700 47Th St

    General Information

    Property type
    Individual retail properties
    Square Feet
    3,600 SF

    Building Details

    Year Built
    2004
    Stories
    1

    HighLights

    • 3,600 SF retail storefront.
    • Fully leased with long‑term tenants.
    • Ample parking available.
    • Excellent 47th Street location with high traffic (11,240 VPD).
    • Strong tenant mix including McDonald's, Dollar Tree, and Family Dollar.
    • Ideal investment or owner‑user opportunity.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Healthy Hair Boutique Hair Salon Prettyhairboss studios Hair Salon Oddity Clothing Store Taqueria Varitas Mexican Restaurant J.London Beauty & Body Skin Care Clinic

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store 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
    -87.6086963
    Latitude
    41.8098202

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    FAQs

    What type of property is this?
    Individual retail property - Thriving Chicago retail strip, 100% occupied.
    Where is this individual retail property located?
    The property is located at 700 47Th St Chicago, IL.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: 3,600 SF retail storefront.; Fully leased with long-term tenants.; Ample parking available.
    Request Owner's contact information
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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
    700 47Th St Chicago, IL 60653
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