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    8409 Burley Ave Chicago, IL 60617

    For Sale
    $238,600

    Spacious 2-unit property, great location, renovation potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional mixed-use property in Chicago's vibrant 60617 zip code presents a compelling investment opportunity. Located at 8409 S Burley Ave, Cook County, Illinois, this two-unit building offers significant potential for both residential and commercial use. Priced at $238,600, the property features a full basement and a detached two-car garage, adding considerable value. The existing electrical system has been upgraded with two new 100 AMP electrical boxes, allowing for separate metering of residential and commercial power usage. This setup enables each unit to manage its own utilities, maximizing efficiency and potential rental income. The property is being sold AS-IS, providing flexibility for buyers to customize renovations to their vision. Cash offers must include proof of funds, while conventional financing requires pre-approval. This property's prime location near Metra, various shops, dining establishments, and even a beach, enhances its appeal and rental prospects. The combination of residential and commercial space allows for the unique possibility of operating a business from home, further increasing its investment allure. This is an ideal opportunity for investors seeking a property with high income potential and significant upside through strategic renovations.

    Property Features for 8409 Burley Ave

    General Information

    Property type
    Mixed-use properties

    HighLights

    • Mixed‑use property in Chicago, ideal for owner‑occupant businesses.
    • Live and work in the same location, eliminating commute time.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -87.5452718
    Latitude
    41.7425916

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    FAQs

    What type of property is this?
    Mixed-use property - Spacious 2-unit property, great location, renovation potential.
    Where is this mixed-use property located?
    The property is located at 8409 Burley Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $238,600.
    What are key features of this property?
    This property features: Mixed-use property in Chicago, ideal for owner-occupant businesses.; Live and work in the same location, eliminating commute time.;
    (708) 505-5111
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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
    8409 Burley Ave Chicago, IL 60617
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