222 61St St Chicago, IL 60637
- Day care centers
- 0.28 lot acres
Current Use by Public Records
- Day care centers
Property Details for 222 61St St
- Year built
- 1925
- Lot size
- 0.28 lot acres
- Property type
- Day care centers
- Property subtype
- Retail properties
Description
This three-story, 8,600-square-foot daycare center in Chicago, IL, presents a compelling value-add investment opportunity. Located at 222 E 61st St, this property boasts a 9.14% cap rate and a strong NOI of $73,118. The building, constructed in 1925 and renovated in 2023, sits on a 0.28-acre lot with eight parking spaces. Currently operating at 100% occupancy with a single tenant under a three-year lease (commencing March 2023) at $10,000 per month, this property offers immediate income generation. The B3-2 zoning allows for diverse uses. Its strategic location near the Green Line and Dan Ryan Expressway, coupled with proximity to the future Obama Presidential Library, promises significant long-term appreciation. Seller financing is available with a 30% down payment, a 7.00% interest rate, a 360-month amortization, a two-year interest-only period, and a five-year balloon payment. The property is meticulously maintained and situated in a revitalizing neighborhood. This is a rare chance to acquire a stable, income-producing asset with substantial growth potential. The property is sold as-is.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6194
- Latitude
- 41.7841
