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    63 43Rd St Chicago, IL 60653

    Sponsored
    For Sale
    $995,000

    Prime Chicago location, high NOI, strong tenants.

    Property size:
    16,100 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property at 63 E 43rd St, Chicago, IL 60653, offers a compelling investment opportunity. The 16,100 square foot building, constructed in 1909 and extensively renovated between 2020 and 2022, boasts a diverse tenant mix across nine units. Anchored by Alice's Bar B Q and X-Wings, the property also includes a barber salon, beauty salon, sweet shop, and event space. A 1,200 square foot, two-bedroom apartment occupies the southeast corner. Recent capital improvements include a new furnace, central air conditioning, updated bathrooms, plumbing, electrical systems, and tuckpointing. The property features a 100% occupancy rate, generating a current NOI of $61,326 and a pro-forma NOI of $80,523, representing a 6.16% cap rate and a pro-forma cap rate of 8.09%, respectively. The asking price is $995,000, with a price per square foot of $61.80 and a price per unit of $110,555.56. Located in a high-traffic business corridor, two blocks from the CTA 43rd Street Green Line and near new residential developments and the Chicago Urban League headquarters, this B-class, net-lease property presents significant upside potential. The property is zoned B3-3 and sits on a 16,100 square foot lot. Leases are currently for one year, with rent bumps planned to bring them to market rate. The net rentable square footage is 4,660 square feet. The building is two stories and consists of one building. All tenants are credit-rated.

    Property Features for 63 43Rd St

    General Information

    Property type
    Individual retail properties
    Square Feet
    16,100 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1909/2020
    Buildings
    1
    Stories
    2
    Units
    9

    HighLights

    • Nine storefront spaces and one 2‑bedroom apartment in a high‑traffic commercial building.
    • Anchored by Alice's Bar B Q and X‑Wings, with additional tenants including a barber shop, beauty salon, sweet shop, and event space.
    • 1200 sq ft, 2‑bedroom apartment.
    • 2022 capital improvements include a new furnace, central air, bathrooms, plumbing, electrical, and tuckpointing.
    • Located two blocks from the CTA 43rd St. Green Line and new residential development, and two blocks from the Chicago Urban League headquarters.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    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
    -87.623577521971
    Latitude
    41.816509905614

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    FAQs

    What type of property is this?
    Individual retail property - Prime Chicago location, high NOI, strong tenants.
    Where is this individual retail property located?
    The property is located at 63 43Rd St Chicago, IL.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: Nine storefront spaces and one 2-bedroom apartment in a high-traffic commercial building.; Anchored by Alice's Bar B Q and X-Wings, with additional tenants including a barber shop, beauty salon, sweet shop, and event space.; 1200 sq ft, 2-bedroom apartment.
    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
    63 43Rd St Chicago, IL 60653
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