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    2863 Cermak Rd Chicago, IL 60623

    Sponsored
    For Sale
    $485,000

    Chicago Retail Property, High ROI Potential

    Property size:
    4,074 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Chicago investment opportunity presents a prime retail space at 2863 W Cermak Road, located in the vibrant Little Village neighborhood (zip code 60623). The property boasts a total of 4,074 square feet, encompassing a retail storefront and additional land totaling 2,976 square feet. Currently, the retail space is leased to a reliable tenant under a contract extending until December 2025, providing a consistent income stream for the investor. The property was previously enhanced by two residential units, each featuring two bedrooms and one bathroom. These units are currently occupied by the sellers and will be vacant upon closing. The asking price for this property is $485,000. The property is being sold "as is." This presents a unique chance to acquire a well-situated retail property with a secure lease and the potential for future development or redevelopment in a thriving Chicago community. The property's location offers excellent visibility and accessibility, making it an attractive proposition for both current and future tenants. This is a strong investment opportunity with significant upside potential.

    Property Features for 2863 Cermak Rd

    General Information

    Property type
    Land
    Square Feet
    4,074 SF

    HighLights

    • Prime retail space totaling 4,074 square feet at 2863 W Cermak Road, Little Village, Chicago (60623).
    • Currently leased to a reliable tenant until December 2025, providing stable income.
    • Includes 2,976 square feet of additional land.
    • Asking price: $485,000.
    • Sold "as is," with two vacant 2‑bedroom/1‑bathroom residential units available upon closing.
    Property Profile Location Intelligence

    Current Use by Public Records

    Panaderia Mana Bakery Piña Bakery Bakery

    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
    -87.6979018
    Latitude
    41.8516494

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    FAQs

    What type of property is this?
    Land - Chicago Retail Property, High ROI Potential
    Where is this land located?
    The property is located at 2863 Cermak Rd Chicago, IL.
    What is the asking price?
    The asking price for this property is $485,000.
    What are key features of this property?
    This property features: Prime retail space totaling 4,074 square feet at 2863 W Cermak Road, Little Village, Chicago (60623).; Currently leased to a reliable tenant until December 2025, providing stable income.; Includes 2,976 square feet of additional land.
    Request Owner's contact information
    2863 Cermak Rd Chicago, IL 60623
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    Chicago, IL 60623
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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
    2863 Cermak Rd Chicago, IL 60623
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