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    3900 Western Ave Chicago, IL 60609

    For Sale
    Contact for pricing

    High-Traffic Retail Land, 4,000 SF

    Property size:
    4,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 0.99-acre retail land parcel in Chicago's vibrant McKinley Park neighborhood presents a unique investment opportunity. Located at the hard corner of Western Avenue and Pershing Road, the property boasts unparalleled visibility with exposure to 23,000 vehicles per day across 12 lanes of traffic. The 4,000 square foot building sits on a fenced lot, offering ample space for various uses. Its strategic location directly across from the expansive 69-acre McKinley Park, complete with recreational amenities like an ice-skating rink, ball fields, and a pool, ensures high foot traffic and community engagement. Further enhancing its accessibility, the site benefits from convenient public transportation, with bus stops directly in front and the Metra tracks overhead. The property's B3-1 zoning allows for a diverse range of retail, restaurant, medical, or service-oriented businesses. The surrounding area features strong demographics, with a population of 365,902 within a 3-mile radius and a Walk Score of 79, indicating high walkability. Proximity to established businesses like Ross Dress for Less and LA Fitness adds to its appeal. This prime location offers significant potential for growth and return on investment.

    Property Features for 3900 Western Ave

    General Information

    Property type
    Retail properties
    Square Feet
    4,000 SF
    Lot Size
    43,124 SF

    Building Details

    Units
    1

    HighLights

    • High‑traffic corner lot at Western Ave & Pershing Rd, Chicago, IL, with 23,000 VPD.
    • 0.99‑acre parcel with a 4,000 SF building and fenced parking.
    • Across from 69‑acre McKinley Park, offering high visibility and foot traffic.
    • Excellent public transit access via bus and Metra.
    • Strong demographics, with 365,902 residents within a 3‑mile radius and a Walk Score of 79.
    • B3‑1 zoning allows for retail, restaurant, medical, and service uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.685126
    Latitude
    41.8227735

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    FAQs

    What type of property is this?
    Retail property - High-Traffic Retail Land, 4,000 SF
    Where is this retail property located?
    The property is located at 3900 Western Ave Chicago, IL.
    What are key features of this property?
    This property features: High-traffic corner lot at Western Ave & Pershing Rd, Chicago, IL, with 23,000 VPD.; 0.99-acre parcel with a 4,000 SF building and fenced parking.; Across from 69-acre McKinley Park, offering high visibility and foot traffic.
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    3900 Western Ave Chicago, IL 60609
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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
    3900 Western Ave Chicago, IL 60609
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