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    6226 Addison St Chicago, IL 60634

    Sponsored
    For Sale
    $225,000

    Chicago Retail Space: $225,000

    Property size:
    3,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 3,000 square foot storefront located at 6226 W Addison St, Chicago, IL 60634, within Cook County. The property, built in 1950, sits on a 6,200 square foot lot and is zoned B3-1. Currently configured as three separate storefronts, this versatile space offers significant potential for a variety of retail uses. Priced at $225,000 ($75 per square foot), this property boasts excellent visibility and accessibility. The location benefits from high daily traffic counts (estimated 19,093 in 2023), and convenient off-alley parking is available. Sold by the Cook County Land Bank Authority, this property presents a unique chance to revitalize a prime retail space in Chicago's Dunning community. The property's size and configuration allow for diverse business models, making it an attractive investment for both established businesses and entrepreneurs seeking a high-traffic location. The B3-1 zoning provides flexibility for various retail uses, subject to applicable regulations. This is a rare opportunity to acquire a well-located, sizable storefront in a thriving Chicago neighborhood. The property's history and current condition should be independently verified.

    Property Features for 6226 Addison St

    General Information

    Property type
    Individual retail properties
    Square Feet
    3,000 SF

    Building Details

    Year Built
    1950

    HighLights

    • $225,000 asking price for a 3,000 square foot retail storefront.
    • Located at 6226 W Addison St, Chicago, IL 60634.
    • $75 per square foot.
    • Built in 1950, with B3‑1 zoning.
    • 6,200 square foot lot size.
    Property Profile Location Intelligence

    Current Use by Public Records

    Globe Financial Financial Institution Leka Custom T-Shirt Store

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office 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
    -87.7824001
    Latitude
    41.945845

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    FAQs

    What type of property is this?
    Individual retail property - Chicago Retail Space: $225,000
    Where is this individual retail property located?
    The property is located at 6226 Addison St Chicago, IL.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: $225,000 asking price for a 3,000 square foot retail storefront.; Located at 6226 W Addison St, Chicago, IL 60634.; $75 per square foot.
    Request Owner's contact information
    6226 Addison St Chicago, IL 60634
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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
    6226 Addison St Chicago, IL 60634
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