6828 171St StTinley Park, IL 60477

Property Details for 6828 171St St

Year built

1971

Lot size

0.37 AC

Property type

Retail properties

Property subtype

Retail space

APN

28-30-115-045

APU

2830115045

Description

This exceptional 2,300 square foot medical office building, constructed in 1975, is ideally situated in the heart of downtown Tinley Park, just west of bustling Oak Park Avenue. The property boasts a spacious layout featuring a large front office, multiple private offices, and two bathrooms. A newly remodeled lower level offers two additional office spaces, providing flexibility for a single tenant or the potential for division into two units. The building offers convenient access and ample parking with 30 spaces available for tenants and visitors. The property is located in Cook County and is zoned for medical or general office use. This single-tenant building presents a fantastic opportunity for a medical practice or other professional office seeking a well-established location with significant parking. The property is available for occupancy on November 1st, 2023. Its prime location and versatile space make it an attractive option for businesses seeking a prominent presence in Tinley Park's thriving commercial district. The building's existing infrastructure provides a solid foundation for immediate occupancy or potential future renovations.

• CAP approach

  CAP return

  Valuation

  6%

  $7,653,141

  6.5%

  $7,064,438

  7%

  $6,559,835

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,317,326

  Geo Method

  $5,317,326

• Alternative Use

  Use

  Valuation

  Residential

  $5,959,118

  Hospitality

  $5,458,520

  Educational

  $4,541,424

  Medical

  $4,697,611

  Retail

  $7,064,438

Location Insight

City

Tinley Park

County

Cook

State

Illinois

Latitude

41.5809

Longitude

-87.7856

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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