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    9200 Commercial Ave Chicago, IL 60617

    Sponsored
    For Sale
    $2,000,000

    48,000 SF Storefront, Value-Add Opportunity

    Property size:
    48,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional value-add opportunity presents a 48,000 square foot storefront retail building located at 9200 S. Commercial Avenue in Chicago, Illinois, zip code 60617. The property, situated in the heart of a vibrant South Chicago neighborhood, enjoys a prime location just four blocks from Lake Michigan and offers convenient access to Chicago's downtown via public transportation. The building features seven retail units currently at 75% occupancy, including a dentist's office and a daycare center, providing a stable stream of existing rental income. Long-term tenants contribute to the property's consistent cash flow. The upper four floors of the mixed-use building present a significant value-add opportunity for renovation and lease-up, allowing for the creation of additional income streams by achieving market rents. This property has been under the same ownership for two decades, offering a unique chance to acquire a well-established asset with substantial upside potential. The asking price for this strategically located retail investment is $2,000,000. This corner location at 9200 S. Commercial Avenue provides excellent visibility and accessibility. The property's strong existing tenant base, combined with the potential for significant improvements to the upper floors, makes this an attractive investment for those seeking a high-return opportunity in a rapidly developing area of Chicago.

    Property Features for 9200 Commercial Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    48,000 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Acceptance Insurance Auto Insurance Agency Premium Health Medical Clinic US Bank Mortgage Mortgage Broker US Bank ATM Atm U.S. Bank-Mortgage Loan ... Mortgage Lender

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.551676
    Latitude
    41.728083

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    FAQs

    What type of property is this?
    Individual retail property - 48,000 SF Storefront, Value-Add Opportunity
    Where is this individual retail property located?
    The property is located at 9200 Commercial Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $2,000,000.
    Request Owner's contact information
    9200 Commercial Ave Chicago, IL 60617
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    Chicago, IL 60617
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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
    9200 Commercial Ave Chicago, IL 60617
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