502 95Th St Chicago, IL 60628
- Office Properties & Spaces
- 6,750 SF
Current Use by Public Records
- Be Whole Christian Center / Association Or Organization
Property Details for 502 95Th St
- Year built
- 1935
- Property size
- 6,750 SF
- Property type
- Office Properties & Spaces
Description
This stabilized investment property, located at 502 W 95th St, Chicago, IL 60628, presents a compelling opportunity. The 6,750 square foot building, constructed in 1935 and extensively renovated in 2020, currently operates as a church but is easily adaptable to its original use as office space. The property features 1,620 square feet of net rentable space and sits on a 6,750 square foot lot, providing ample parking. The building boasts a strong pro-forma cap rate of 8.16% and a net operating income (NOI) of $20,412, translating to a price per square foot of $37.04. The land value alone is $18 per square foot. The property is zoned C1 and includes an adjacent lot, enhancing its value and potential. This single-story building offers a high-yield investment opportunity for an owner-operator or passive investor seeking a well-maintained property in a desirable location with significant upside potential. The property's history as both a church and office space provides flexibility for a variety of uses. Its location on a busy stretch of 95th Street ensures high visibility and accessibility. This is a turnkey investment ready for immediate income generation.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6362
- Latitude
- 41.7217
