37-Room Exterior-Corridor
For Sale
$2,399,000
9112 S Cottage Grove Ave, Chicago, IL 60619
Two-story hospitality property with main-level parking and B3-2 Commercial zoning.
Property Size11,848 SF
Lot Size0.41 Acres
Price / SF$202.48
Days on Market72
Property Features for 9112 S Cottage Grove Ave
General Information
Standard status
Active
Size
11,848 SF
Lot size
0.41 Acres
Property subtype
Business Opportunity
Zoning
B3-2
Additional Details
Highway Access
Yes
Building Details
Year Built
1971
Stories
2
Listing Agency:
Century 21 Circle
Listed By:
Mark Ahmad · License #471007186
(773) 983-1553
Source:
Saladinosells
Added: Aug 4
Changed: Oct 3
Last Checked: Oct 5 at 8:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Circle
Investment Insights
Based on property information with market context.
This two-story motel contains 37 rooms arranged along exterior corridors, with standard guest amenities and parking at the main level. The property was built in 1971 and includes approximately 18,000 square feet of land. Conflicting building-size figures are omitted.
The property is located at 9112 S Cottage Grove Ave in Chicago’s Greater Grand Crossing community, near the Cottage Grove commercial corridor. The Dan Ryan Expressway is approximately 1 mile away, while nearby transportation includes the Metra Electric Line’s 91st St. station and CTA bus routes.
B3-2 Commercial zoning supports a range of stated retail, warehouse, mixed-use, and residential-above-retail applications, providing flexibility for continued hospitality use or a different commercial configuration.
The property is located at 9112 S Cottage Grove Ave in Chicago’s Greater Grand Crossing community, near the Cottage Grove commercial corridor. The Dan Ryan Expressway is approximately 1 mile away, while nearby transportation includes the Metra Electric Line’s 91st St. station and CTA bus routes.
B3-2 Commercial zoning supports a range of stated retail, warehouse, mixed-use, and residential-above-retail applications, providing flexibility for continued hospitality use or a different commercial configuration.
Key Highlights
- 37‑room motel with exterior‑corridor access
- Two‑story property built in 1971
- Approximately 18,000 square feet of land
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,144
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,782,880
$1.8M
Cap Rate 7%
$1,273,486
$1.3M
Cap Rate 9%
$990,489
$990.5K
Market Conditions
NOI Build-Up for 11,848 SF
Gross rent
$213.3K $18.00/SF
− Vacancy
−$25.6K −$2.16/SF
EGI
$187.7K $15.84/SF
− OpEx
−$98.5K −$8.32/SF
NOI
$89.1K $7.52/SF
Area
Chicago, IL
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,782,880
Cap Rate 7%
$1,273,486
Cap Rate 9%
$990,489
Alternative Uses
Best Use
Hotel Hospitality
$1.27M
$1.11M – $1.49M
NOI $89,144 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.59M
$4.89M – $6.52M
NOI $391,041 @ 7.0% cap · market cap 16.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60619, IL
63,303
Population
33,547
Households
1.9
Avg Household Size
43
Median Age
27%
College-Educated
90%
High-School Grad
6.1 sq mi
ZIP Area
10,378
Density / Sq Mi
$43,403
Median Household Income
$35,672
Median Earnings
$1,054
Median Rent
$213,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Motel - Two-story hospitality property with main-level parking and B3-2 Commercial zoning.
Where is this motel located?
The property is located at 9112 S Cottage Grove Ave Chicago, IL.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: 37‑room motel with exterior‑corridor access; Two‑story property built in 1971; Approximately 18,000 square feet of land
