8506 Catalpa Ave Chicago, IL 60656
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 8506 Catalpa Ave
- Year built
- 1967
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a five-unit multifamily building ideally situated in Chicago, Illinois, at 8506 W Catalpa Avenue. The property boasts a prime location offering convenient access to I-90, downtown Chicago, and O'Hare International Airport, ensuring ease of access for both residents and potential tenants. The building comprises three two-bedroom units and two one-bedroom units, all currently occupied, with some long-term tenants in place, providing immediate and consistent rental income. On-site parking is available, including both rear parking and a convenient side drive, a significant advantage in this urban setting. While some recent updates have been completed, further improvements could enhance the property's value and rental potential. The property's proximity to shopping centers, public transportation, and numerous office buildings creates a highly desirable location for tenants, simplifying the leasing process and maximizing occupancy rates. This presents a compelling investment opportunity for those seeking a stable, cash-flowing asset in a thriving Chicago neighborhood. The property is offered at $729,900. The lot size is 0 acres. The building is classified as General Commercial.
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
- -87.8394
- Latitude
- 41.9795
