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    28 112Th Pl Chicago, IL 60628

    Sponsored
    For Sale
    $865,000

    Prime Retail Space, High Traffic Area

    Property size:
    21,668 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a +/-21,668 square foot, one-story freestanding commercial building situated on a +/-43,237 square foot lot in Chicago, IL. The property, located at 28 E 112th Pl, features two units totaling approximately 21,668 to 24,468 square feet, with the west unit at roughly 9,386 square feet and the east unit at approximately 12,282 square feet. An additional 2,800 square foot freestanding building, currently leased month-to-month to the 9th Ward Aldermanic office, is also included. Built in 1955 and renovated in 2006, the property boasts a B3-2 zoning designation, allowing for diverse uses. The property includes 50 parking spaces within a gated lot. Currently at 11.5% occupancy, this owner/user investment opportunity is priced at $865,000, or $35.35 per square foot. The property's location offers easy access to Interstates 57 & 94, public transportation, and numerous urban amenities, educational institutions, and city attractions. The high daytime traffic and dense population in this area make it an attractive investment for office, retail, or medical uses. This is a gross lease property with no rent bumps and no tenant credit rating.

    Property Features for 28 112Th Pl

    General Information

    Property type
    Individual retail properties
    Square Feet
    21,668 SF
    Class
    C

    Building Details

    Year Built/Renovated
    1955/2006
    Buildings
    2
    Stories
    1
    Units
    2

    HighLights

    • ±21,668 SF freestanding building on a ±43,237 SF lot in Chicago, IL.
    • Additional 2,800 SF freestanding building included.
    • 50‑space gated parking lot.
    • B3‑2 zoning.
    • High daytime traffic area with easy access to I‑57 & I‑94.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hr DL Social Services Organization Chicago Mental Health ... Public Health Department TV Star Planet Consultant

    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
    -87.621904
    Latitude
    41.6901406

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    FAQs

    What type of property is this?
    Individual retail property - Prime Retail Space, High Traffic Area
    Where is this individual retail property located?
    The property is located at 28 112Th Pl Chicago, IL.
    What is the asking price?
    The asking price for this property is $865,000.
    What are key features of this property?
    This property features: ±21,668 SF freestanding building on a ±43,237 SF lot in Chicago, IL.; Additional 2,800 SF freestanding building included.; 50-space gated parking lot.
    Request Owner's contact information
    28 112Th Pl Chicago, IL 60628
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    Chicago, IL 60628
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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
    28 112Th Pl Chicago, IL 60628
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